™Your Policy Risk Impact Agent
10 chapters · 500 sections in this title.
ORS 711.495 Action by director to collect balance due on stock or stock assessment
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If an institution becomes insolvent and is taken in charge by the Director of the Department of Consumer and Business Services for liquidation, the director may maintain an action against any stockholder, whose stock or assessment on the stock has not been fully paid, for the col…
ORS 711.500 Liability of transferor of stock made in contemplation of insolvency; proceedings to relieve stockholder of liability prohibited
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(1) Stockholders in an institution who have transferred their stock or registered the transfer of their stock within 60 days before the date of the closing of the institution or with the knowledge of the impending closing or failure, are liable, as if the transfer had not been ma…
ORS 711.505 Liability of fiduciary as stockholder; liability of estate and funds
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A person holding stock of an institution as a fiduciary, as collateral security or in pledge, is not personally subject to any liability as a stockholder. The person pledging the stock is liable as a stockholder. The estate and funds in the hands of the fiduciary are liable to th…
ORS 711.510 Deposit of money collected under ORS 711.495; security for deposit
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(1) The moneys collected by the Director of the Department of Consumer and Business Services under ORS 711.495 shall be, from time to time, deposited in one or more insured institutions, subject to the order of the director. (2) The director may require any bank in which the dire…