ORS 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 (Maintaining out-of-state bank branch in this state) 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 (Certificate of authority to conduct banking business) and 713.140 (Contents of application for certificate of authority) to 713.160 (Conduct of banking business under certificate of authority) 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]

Source: Section 713.010 — Application of Bank Act to out-of-state banks and extranational institutions; powers of out-of-state bank, https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html.

Attorney General Opinions

Applicability to issuance of letters of credit, (1972) Vol 36, p 125; coverage of loan solicitations in Oregon by out-of-state lenders under the Bank Act, and other regulatory provisions, (1973) Vol 36, p 425; status of religious nonprofit organizations serving as trustees of gifts and donations, (1973) Vol 36, p 604

Green check means up to date. Up to date

Current through early 2024

§ 713.010’s source at oregon​.gov