Chapter 706 — Chapter 706

ORS 706.540 [Amended by 1969 c.94 §2; 1971 c.68 §2; 1973 c.797 §25; 1977 c.135 §9; 1983 c.296 §1a; 1985 c.762 §28a; 1985 c.786 §10; 1987 c.171 §4; 1987 c.373 §49; repealed by 1993 c.264 §5]

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ORS 706.544 Costs for special examination or other actions taken. A banking institution or a non-Oregon institution shall pay to the Director of the Department of Consumer and Business Services the actual costs of the Department of Consumer and Business Services, as determined by the director, for conducting any special examination or taking any action under ORS 706.600. [1973 c.797 §25a; 1977 c.135 §10; 1985 c.762 §30a; 1985 c.786 §11; 1997 c.631 §6]

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ORS 706.548 [1973 c.797 §26; repealed by 1985 c.762 §196 and 1985 c.786 §69]

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ORS 706.550 [Amended by 1963 c.580 §80; 1973 c.797 §27; repealed by 1985 c.762 §196 and 1985 c.786 §69]

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ORS 706.555 [1973 c.797 §28; 1985 c.796 §2; renumbered 706.795]

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ORS 706.560 Appraisal of securities and audit. (1) When a banking institution or a non-Oregon institution has been examined by an examiner and the examiner finds securities that are of doubtful value, the examiner shall report the same to the Director of the Department of Consumer and Business Services, who may, at the expense of the banking institution or non-Oregon institution, investigate and appraise the securities

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ORS 706.570 Requirement that banking institution keep books and accounts; civil penalty. (1) A banking institution that is engaged in the business of banking in this state shall keep books and accounts of the banking institution’s activities, in such a manner as to enable the Director of the Department of Consumer and Business Services to readily ascertain the true condition of the banking institution

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ORS 706.575 Certificate as evidence that document is filed with director. (1) A certificate attached to a copy of a document filed by the Director of the Department of Consumer and Business Services, bearing the director’s signature, which may be in facsimile, is conclusive evidence that the original document or a facsimile thereof is on file with the office

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ORS 706.578 Establishment of loan production office; notice; fee. (1) An insured institution or extranational institution shall file a notice with the Director of the Department of Consumer and Business Services and pay a nonrefundable fee of $100 within 30 days after establishing a loan production office in this state. The notice must include

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ORS 706.580 Illegal, unauthorized or unsafe practices; authority of director. (1) The Director of the Department of Consumer and Business Services may take an action described in subsection (2) of this section if a banking institution or non-Oregon institution

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ORS 706.590 [Repealed by 1973 c.797 §428]

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ORS 706.600 Authority to protect creditors and depositors of banking institution or non-Oregon institution. (1) The Director of the Department of Consumer and Business Services may take one or more of the actions described in this section to protect the interest of the creditors and depositors of a banking institution or non-Oregon institution if any of the following occurs

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ORS 706.610 Examiners required to report insolvency of Oregon operating institution. An examiner of the Department of Consumer and Business Services, having knowledge of the insolvency or unsafe condition of an Oregon operating institution shall report the fact in writing, over the examiner’s signature, to the Director of the Department of Consumer and Business Services. [Amended by 1973 c.797 §33; 1985 c.762 §32; 1997 c.631 §12]

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ORS 706.620 Records. The Director of the Department of Consumer and Business Services shall keep proper books showing the acts, matters and things by the director done under the provisions of the Bank Act. [Amended by 1973 c.797 §34]

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ORS 706.630 Regular reports of condition; additional reports as required by director. (1) The Director of the Department of Consumer and Business Services shall require each Oregon operating institution to submit a report of condition at the close of business on the same day on which the federal regulatory agencies require a report from national banks

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ORS 706.640 [Repealed by 1973 c.797 §428]

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ORS 706.650 Delay or failure to furnish reports of condition; penalty. If an Oregon operating institution delays or fails to furnish reports in the manner required under ORS 706.630, the Oregon operating institution is subject to a penalty of $250 a day for each day while in default. The Oregon operating institution shall pay the penalty after receiving notice or demand for the amount of the penalty from the Director of the Department of Consumer and Business Services. If the Oregon operating institution does not pay the penalty upon demand by the director, the director shall proceed to collect the penalty in the manner prescribed by ORS 706.570 (3). If the director determines that the default was unavoidable, the director may waive the penalty. [Amended by 1973 c.797 §36; 1997 c.631 §14; 2015 c.244 §11]

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ORS 706.655 Records of extensions of credit by banking institutions; rules. (1) Each banking institution shall submit to the Director of the Department of Consumer and Business Services each calendar quarter a copy of such records concerning extensions of credit by the banking institution to its executive officers, directors and principal shareholders, and the related interests of those persons, as are required by rule of the director

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ORS 706.660 [Amended by 1973 c.797 §37; 1979 c.88 §3; 1997 c.631 §15; repealed by 2015 c.244 §90]

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ORS 706.670 [Amended by 1973 c.797 §38; repealed by 1997 c.631 §567]

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ORS 706.680 [Amended by 1973 c.797 §39; 1979 c.88 §4; 1997 c.631 §16; repealed by 2015 c.244 §90]

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ORS 706.690 Transfer of stock or controlling interest; notice to and approval by director; applicability to financial holding companies and bank holding companies. (1) If the Director of the Department of Consumer and Business Services determines that the condition of an institution or Oregon stock savings bank is such that any transfer of the capital stock of the institution or Oregon stock savings bank would jeopardize the interest of its depositors, the director shall notify the institution or Oregon stock savings bank in writing that when any shares of the capital stock of the institution or Oregon stock savings bank are to be transferred on the books or records of the institution or Oregon stock savings bank, the officer proposing to make the transfer shall report in writing to the director the proposed transfer of stock. A transfer of stock shall not be made, after the date such a notice is issued, unless the transfer agent first obtains the written consent of the director. The director shall notify the institution or Oregon stock savings bank of the director’s decision within 30 days after receiving the report

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ORS 706.700 Resignation or retirement of director, president or chief executive officer; notice to director. A director, president or chief executive officer of a banking institution who retires or resigns from the position of director, president or chief executive officer shall give 30 days prior written notice to the Director of the Department of Consumer and Business Services. [Amended by 1963 c.195 §1; 1973 c.797 §41; 1987 c.158 §150; 1995 c.316 §1]

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ORS 706.710 Waiver of retirement or resignation notices; modifying effective date. The Director of the Department of Consumer and Business Services may, by writing, waive the notices provided for in ORS 706.690 and 706.700, or shorten the period after the notice when the resignation or retirement becomes effective. [Amended by 1973 c.797 §42; 1975 c.544 §5; 1995 c.316 §2]

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ORS 706.720 Reports filed with director; public inspection of records; exemptions; confidentiality; forms. (1) The Director of the Department of Consumer and Business Services shall receive and file in the Department of Consumer and Business Services all reports required by the Bank Act

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ORS 706.723 Confidential documents; review by court. (1) Notwithstanding any other provision of law

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ORS 706.725 False statements, reports and book entries. An officer, director, stockholder or employee of any Oregon operating institution shall not

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ORS 706.730 Depositor and debtor information confidential; disclosure prohibited; exceptions. (1) The name of a person who is a depositor or debtor of a bank and the amount of the person’s deposit or debt are confidential as provided in ORS 705.137. The Director of the Department of Consumer and Business Services or any other person employed by the Department of Consumer and Business Services shall not knowingly disclose the name of a person who is a depositor or debtor of a bank, or the amount of the person’s deposit or debt, except that the director or the employee may disclose such information as may be required under ORS 706.720 (5) or as may be necessary in the performance of the director’s or employee’s official duty including any duty under ORS 295.018

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ORS 706.740 [Amended by 1963 c.195 §2; 1963 c.580 §81; 1973 c.797 §46; repealed by 1985 c.762 §196]

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ORS 706.775 Enforcement of Bank Act; production of witnesses and evidence; fees and mileage of witnesses. (1) For the purpose of an investigation or proceeding under the Bank Act, the Director of the Department of Consumer and Business Services may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of books, papers, correspondence, memoranda, agreements or other documents or records that the director considers relevant or material to the inquiry

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ORS 706.780 Notice to law enforcement officers of Bank Act violations; exception. If the Director of the Department of Consumer and Business Services has reason to believe that a person has violated any provision of the Bank Act for which criminal prosecution is provided, the director shall give the information relative to the violation to the appropriate federal, state or local law enforcement officer having jurisdiction of the violation. However, this section does not apply when a director or officer of an Oregon operating institution has reported the information to the appropriate law enforcement agency under ORS 707.735. [Formerly 706.430; 1997 c.631 §21]

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ORS 706.785 Attorney General to conduct actions; assistance of district attorneys. The Attorney General shall conduct all actions begun by the Director of the Department of Consumer and Business Services under authority of the Bank Act, and may require the assistance of the district attorney of the district in which the action is conducted. [Formerly 706.440]

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ORS 706.790 Rules. (1) In accordance with ORS chapter 183, the Director of the Department of Consumer and Business Services may adopt rules for the purpose of carrying out the Bank Act

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ORS 706.795 Rules authorizing banking institutions to exercise powers of certain financial institutions. Notwithstanding any other provision of law, the Director of the Department of Consumer and Business Services may, in accordance with ORS 183.310, 183.315, 183.330, 183.335 and 183.341 to 183.410, make rules that authorize banking institutions to exercise any of the powers conferred upon any financial institution that is conducting banking business or trust business in this state, if the director finds that the exercise of the power

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ORS 706.800 [1993 c.229 §21; repealed by 1997 c.631 §567]

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ORS 706.805 [1993 c.229 §5; repealed by 1997 c.631 §567]

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ORS 706.815 Single account for moneys relating to supervision of Oregon operating institutions. Notwithstanding ORS 705.145 (2), moneys received or expended by the Director of the Department of Consumer and Business Services under this chapter relating to the supervision of Oregon operating institutions may be deposited in or withdrawn from a single account. The director need not establish a separate account in the Consumer and Business Services Fund relating to the supervision of banks and a separate account relating to the supervision of trust companies. [1993 c.264 §2; 1997 c.631 §24]

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ORS 706.900 [Formerly 706.245; 1987 c.373 §51; repealed by 1993 c.318 §2]

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ORS 706.905 [Formerly 706.255; repealed by 1993 c.318 §2]

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ORS 706.910 [Formerly 706.265; repealed by 1993 c.318 §2]

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ORS 706.915 [1985 c.786 §16; repealed by 1993 c.318 §2]

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ORS 706.920 [1985 c.786 §17; repealed by 1993 c.318 §2]

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ORS 706.980 Civil penalties. (1) Any person who violates any provision of the Bank Act, or any lawful rule or final order of the Director of the Department of Consumer and Business Services for which a civil penalty is not expressly provided, shall forfeit a civil penalty in an amount determined by the director of not more than $2,000 for each offense, or $10,000 in the aggregate for all such offenses within any three-month period. In the case of individuals, the civil penalty shall be not more than $1,000 for each offense or $5,000 in the aggregate for all such offenses within any three-month period. Each violation is a separate offense

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ORS 706.990 Criminal penalties. Violation of ORS 706.725 is a Class C felony. [Amended by 1973 c.797 §48; 1975 c.544 §6]

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