Savings Banks

ORS 716.626
Certificates indicating contribution to guaranty or expense funds


(1)

An Oregon nonstock bank may issue transferable certificates showing the amounts contributed by any incorporator or director to the guaranty or expense funds of the Oregon nonstock bank.

(2)

The certificate shall show that it does not constitute a liability of the Oregon nonstock bank, except as provided in ORS 716.800 (Repayment of contributions made to expense fund and guaranty fund).

(3)

A certificate shall not be transferred by an incorporator or director without the prior written consent of the Director of the Department of Consumer and Business Services. [1973 c.797 §381; 1997 c.631 §351]
Chapter 716

Atty. Gen. Opinions

Applicability of licensing and registration requirements under Bank Act to loan solicitation office operating in Oregon, (1985) Vol. 44, p 378


Source

Last accessed
Jun. 26, 2021