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2025 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 706 - Administration and Enforcement of Banking Laws Generally
Section 706.650 - Delay or failure to furnish reports of condition; penalty.
Universal Citation:
OR Rev Stat § 706.650 (2025)
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If an Oregon operating institution delays or fails to furnish reports in the manner required under ORS 706.630, the Oregon operating institution is subject to a penalty of $250 a day for each day while in default. The Oregon operating institution shall pay the penalty after receiving notice or demand for the amount of the penalty from the Director of the Department of Consumer and Business Services. If the Oregon operating institution does not pay the penalty upon demand by the director, the director shall proceed to collect the penalty in the manner prescribed by ORS 706.570 (3). If the director determines that the default was unavoidable, the director may waive the penalty. [Amended by 1973 c.797 §36; 1997 c.631 §14; 2015 c.244 §11]
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