OAR 441-505-4010
Exemption for Banking Institutions

(1)

An exemption is created under ORS 709.030 (Approval to transact trust business)(4) from the trust company certificate of authority and deposit requirements for:

(a)

A non-Oregon institution or extranational institution when the entities are involved in any activity described in section (2) of this rule; and

(b)

A non-Oregon institution or extranational institution that indirectly engages in any activity covered in section (2) of this rule because of its beneficial interest in a pool of notes secured by real estate mortgages or trust deeds.

(2)

The exemption applies to:

(a)

The taking, acquiring, holding and enforcement of notes secured by real estate mortgages or trust deeds or making commitments to purchase such notes;

(b)

The foreclosing of mortgages and trust deeds in the courts of this state, acquiring the mortgaged property, holding and operating the property for a period not exceeding five years or disposal of the property.

Source: Rule 441-505-4010 — Exemption for Banking Institutions, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-505-4010.

Last Updated

Jun. 8, 2021

Rule 441-505-4010’s source at or​.us