ORS 708A.590
Charging off real estate assets

  • use of generally accepted accounting principles

(1)

An institution that owns or holds any real estate other than as permitted in the Bank Act shall immediately charge the book value of the real estate to profit and loss or otherwise remove the real estate from the institution’s books.

(2)

An institution shall at all times value and record on the institution’s books and records, in accordance with generally accepted accounting principles, real estate that the institution owns or holds in accordance with ORS 708A.175 (Right to purchase, hold and dispose of real and personal property) (3) or (4). [1997 c.631 §193; 2011 c.478 §1]

Source: Section 708A.590 — Charging off real estate assets; use of generally accepted accounting principles, https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html.

708A.005
Powers of institutions
708A.010
Investments and activities of Oregon commercial banks
708A.115
Investment in government obligations
708A.120
Investment in stock of other entity
708A.125
Stock in corporations acquired to strengthen capital or eliminate undesirable assets
708A.130
Definition for ORS 708A.135 to 708A.145
708A.135
Investment in bank service corporation
708A.140
Discrimination by bank service corporation prohibited against nonstockholding depository institution
708A.145
Authorized services of bank service corporations
708A.150
Community development corporations
708A.155
Investment in foreign banks
708A.160
Corporation or limited liability company created to establish ATMs
708A.165
Membership in Federal Reserve System
708A.170
Securities powers
708A.175
Right to purchase, hold and dispose of real and personal property
708A.180
Acquisition of personal property for leasing purposes
708A.185
Purchase of real estate contracts
708A.190
Acceptance of drafts and bills of exchange
708A.195
Disposition of real and personal property
708A.210
Challenge to validity of institution action
708A.250
Lending money
708A.255
Interest rates on loans or uses of money
708A.260
Accepting own stock as collateral
708A.265
Accepting stock of other institutions as collateral
708A.270
Real estate loans
708A.275
Establishment of loan production office
708A.290
“Capital” defined for ORS 708A.290 to 708A.375
708A.295
Limitations on amount of obligations to Oregon commercial bank
708A.300
Obligations secured by readily marketable collateral
708A.305
Obligations of other financial institutions
708A.310
Obligations of indorser of discounted commercial paper
708A.315
Noncommercial short-term notes
708A.320
Obligations secured by shipping documents
708A.325
Installment consumer paper
708A.330
Bankers’ acceptances of other financial institutions
708A.335
Obligations secured by documents covering readily marketable staples
708A.340
Obligations secured by documents covering livestock
708A.345
Obligations secured by government obligations or shares of mutual fund or unit trust
708A.350
Obligations secured by government bonds
708A.355
Insured and guaranteed obligations
708A.360
Obligations secured by deposits
708A.365
Obligations secured by life insurance policy values
708A.370
Obligations secured by first lien on real estate
708A.375
Obligations of guarantors
708A.400
Deposit accounts
708A.405
Deposits
708A.410
Savings accounts
708A.415
Securing deposits by surety bond, letter of credit or insurance
708A.420
Notice to depositor upon change in terms, charges, withdrawal conditions or decrease in interest rate
708A.425
Deposit made in name of minor
708A.430
Disposition of deposit on death of depositor
708A.435
Adverse claim to deposit
708A.440
Checks drawn by agents presumed to be in authorized manner
708A.445
Checks of intoxicated, drugged or financially exploited persons
708A.450
Certified checks
708A.455
Definitions for ORS 708A.455 to 708A.515
708A.460
Application of ORS 708A.465 to 708A.475
708A.465
Ownership of multiple-party accounts
708A.470
Multiple-party accounts
708A.475
Rights of survivorship based on form of account
708A.480
Transfer of moneys upon death of depositor or trustee is not testamentary disposition
708A.485
Payment of deposit in multiple-party account to one or more parties
708A.488
Withdrawal or payment conditioned on advance notice
708A.490
Joint account
708A.495
P.O.D. account
708A.500
Trust account
708A.505
Discharge of institution from liability for payments made
708A.510
Right of institution to setoff
708A.515
Designation of agent for account
708A.535
Granting security interests in institution assets
708A.555
Generally accepted accounting principles
708A.560
Real and personal property used in institution’s business
708A.565
Certain stock
708A.570
Community development corporations
708A.575
Market-making corporations
708A.580
Capital-strengthening corporations
708A.585
Claims and judgments as assets
708A.590
Charging off real estate assets
708A.595
Charging off personal property assets
708A.600
Charging off losses
708A.605
Separate accounts for foreign branches
708A.630
Negligent, excessive, dishonest or unlawful loans
708A.635
Written policies regarding reporting to and obtaining approval of board
708A.640
Receiving illegal compensation
708A.645
Illegal guaranty or indorsement
708A.650
Banking days
708A.655
Procedures for opening safe deposit box after death of person who was sole lessee or last surviving lessee of box
708A.660
Savings promotion raffles
708A.670
Definitions for ORS 708A.670 and 708A.675
708A.675
Authority of financial institutions in cases of suspected financial exploitation
708A.680
Contractual rights not restricted
708A.990
Civil penalties
708A.995
Criminal penalties
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