2017 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 713 - Out-of-State Banks and Extranational Institutions
Section 713.010 - Application of Bank Act to out-of-state banks and extranational institutions; powers of out-of-state bank.
(1) Every activity that an out-of-state bank or extranational institution engages in while conducting a banking business in this state is subject to the applicable provisions of the Bank Act.
(2) Unless the laws of the out-of-state bank’s home state limit the powers and authorities of the out-of-state bank, an out-of-state bank that opens, occupies or maintains a branch in this state pursuant to and in accordance with the requirements of ORS 713.270 and that has a certificate of authority from the Director of the Department of Consumer and Business Services to conduct banking business in this state under ORS 713.020 and 713.140 to 713.160 has the same powers and authorities to engage in an activity in this state that an Oregon bank has under the laws of this state, except that an out-of-state bank may not transact trust business in this state unless the out-of-state bank complies with ORS chapter 709. [Amended by 1965 c.170 §2; 1967 c.333 §1; 1973 c.797 §307; 1975 c.725 §8; 1979 c.88 §13; 1997 c.631 §283; 2011 c.263 §2; 2015 c.244 §85]
