ORS 705.640
Enforcement authority regarding conduct of banking business

  • court order
  • cease and desist order
  • civil penalty

(1)

Whenever the Director of the Department of Consumer and Business Services has reason to believe that a person is violating a provision of ORS 705.638 (“Company” defined), 707.005 (Organization required to engage in banking or trust business) or 707.010 (Certificate required to transact banking business), the director:

(a)

Shall have access to the premises where the person is suspected of transacting banking business in violation of ORS 705.638 (“Company” defined), 707.005 (Organization required to engage in banking or trust business) or 707.010 (Certificate required to transact banking business) or where the person may have books, accounts and records; and

(b)

Shall have the power to examine, copy or take possession of the books, accounts and records of the person in order to ascertain whether or not the person has violated or is violating any provision of ORS 705.638 (“Company” defined), 707.005 (Organization required to engage in banking or trust business) or 707.010 (Certificate required to transact banking business).

(2)

If a person refuses to grant access to the premises or refuses to comply with the provisions of subsection (1) of this section, the director may apply for an order to require compliance with the provisions of subsection (1) of this section from a court that has jurisdiction over the matter.

(3)

When the director believes, from evidence satisfactory to the director, that a person is violating the provisions of ORS 705.638 (“Company” defined), 707.005 (Organization required to engage in banking or trust business) or 707.010 (Certificate required to transact banking business), the director may:

(a)

Issue an order finding the person in violation, directing the person to cease and desist from the violation and assessing a penalty equal to the costs of investigation plus $1,000, but not exceeding $5,000; and

(b)

Publish notice of an order issued by the director pursuant to paragraph (a) of this subsection.

(4)

An order under this section remains in effect until the director or a court withdraws the order. [2001 c.315 §46; 2009 c.541 §27]

Source: Section 705.640 — Enforcement authority regarding conduct of banking business; court order; cease and desist order; civil penalty, https://www.­oregonlegislature.­gov/bills_laws/ors/ors705.­html.

705.010
Definitions 705.105
Department of Consumer and Business Services 705.115
Department organization 705.117
Consumer Advocacy Section 705.125
Deputy director 705.135
Delegation 705.137
Information that is confidential or not subject to disclosure 705.138
Confidential and privileged documents 705.139
Agreements with other agencies regarding sharing and use of confidential information 705.141
Criminal records check 705.143
Combined license processing 705.145
Consumer and Business Services Fund 705.146
Prescription Drug Affordability Account 705.148
Transfers from Consumer and Business Services Fund to Workers’ Benefit Fund 705.155
Petty cash funds 705.165
Disposition of moneys accruing from department administration and enforcement of certain laws 705.175
Warrant for collection of debt owed Department of Consumer and Business Services 705.300
Records of actions of director regarding securities, commodity and franchise laws 705.310
Evidentiary effect of certain records regarding securities, commodities and franchises 705.320
Certified documents 705.330
Withdrawal of certain documents 705.340
Access to director’s and department records regarding securities, commodities and franchises 705.350
Fees for certain documents 705.610
Appointment of financial institution examiners 705.630
Charging for extra expenses 705.635
Certificate of approval of certain business registry names filed under ORS 56.023 705.638
“Company” defined 705.640
Enforcement authority regarding conduct of banking business 705.642
Injunction authority regarding conduct of banking business
Green check means up to date. Up to date

Current through early 2024

§ 705.640’s source at oregon​.gov