ORS 714.025
Notice required to establish branches in Oregon or outside of Oregon

  • fee
  • rules

(1)

Intentionally left blank —Ed.

(a)

A banking institution may establish and operate one or more branches within or outside this state. Not later than 30 days before the board of directors of a banking institution establishes a branch, the banking institution shall file a notice with the Director of the Department of Consumer and Business Services that sets forth the name of the banking institution, the proposed location of the branch and the date on which the branch will begin operating. The director shall promptly advise the banking institution if the notice is incomplete or if the director requires additional information.

(b)

The director may limit or restrict a banking institution’s ability to establish an additional branch if the director determines that establishing an additional branch would adversely affect the banking institution’s safety and soundness. A banking institution may appeal the director’s decision in a contested case proceeding in accordance with ORS chapter 183.

(2)

Mobile banking facilities described in ORS 714.035 (Mobile banking facilities) and temporary branches are branches for purposes of this section. A temporary branch is a branch that operates for a period not to exceed 60 days, a period that may not be extended. The application fee for a temporary branch is $100. The director may establish rules regarding temporary branches.

(3)

Branches to be located in other countries or to be located in dependencies or insular possessions of the United States are subject to the requirements of this section and ORS 714.045 (Establishment of foreign branches). [1997 c.631 §313; 2015 c.244 §88a]

Source: Section 714.025 — Notice required to establish branches in Oregon or outside of Oregon; fee; rules, https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html.

Green check means up to date. Up to date

Current through early 2024

§ 714.025’s source at oregon​.gov