ORS 713.270
Maintaining out-of-state bank branch in this state
- requirements
- application
- fee
- denial of application
- enforcement
(1)
An out-of-state bank, including a savings bank organized under the laws of another state, may open, occupy or maintain a branch in this state that results from:(a)
Acquiring another bank or branch of another bank that is located in this state; or(b)
Merging with or converting from another bank or branch of another bank that is located in this state.(2)
An out-of-state bank may conduct banking business in this state under the provisions of subsection (1) of this section or by opening one or more de novo branches in this state if the laws of the jurisdiction in which the out-of-state bank’s principal office is located expressly permit an Oregon bank to open one or more de novo branches in the jurisdiction under conditions that are not more restrictive than the conditions this chapter imposes on an out-of-state bank.(3)
An out-of-state bank must submit an application for a certificate of authority to conduct banking business in this state to the Director of the Department of Consumer and Business Services at the time that the out-of-state bank files with the out-of-state bank’s home state or primary federal regulator for approval to open, occupy or maintain a branch in this state.(4)
At the time the out-of-state bank applies for a certificate of authority, the out-of-state bank must pay the application fee prescribed in ORS 713.150 (Submission of application).(5)
If the director authorizes an out-of-state bank to open, occupy or maintain a branch in this state, the out-of-state bank may exercise the powers and authorities that the laws of this state authorize for Oregon banks unless the laws of the out-of-state bank’s home state limit the powers and authorities.(6)
If the director determines that an out-of-state bank’s opening, occupying or maintaining of a branch in this state is not consistent with the laws of this state or that the branch would operate in an unsafe or unsound manner, the director shall notify the out-of-state bank that:(a)
The director has denied the out-of-state bank’s application for a certificate of authority to conduct banking business in this state; and(b)
The out-of-state bank may not conduct banking business at a branch located in this state.(7)
If the director determines that a branch that an out-of-state bank maintains in this state is being operated in violation of the laws of this state or that the branch is being operated in an unsafe or unsound manner, the director may take all enforcement actions the director could take with respect to an Oregon bank, except that the director shall notify the responsible bank supervisory agency of each enforcement action the director takes and, to the extent practicable, shall consult and cooperate with the responsible bank supervisory agency in pursuing and resolving the enforcement action. [1997 c.631 §284; 2011 c.263 §19]
Source:
Section 713.270 — Maintaining out-of-state bank branch in this state; requirements; application; fee; denial of application; enforcement, https://www.oregonlegislature.gov/bills_laws/ors/ors713.html.
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