Title 53, Financial Institutions

(1) An out-of-state bank may not conduct banking business in this state unless the Federal Deposit Insurance Corporation insures the out-of-state bank’s insurable deposits and the out-of-state bank has received a certificate of authority to conduct banking business pursuant to OR…

The Director of the Department of Consumer and Business Services shall issue a certificate of authority to conduct banking business in this state to an out-of-state bank or extranational institution that applies for the certificate under ORS 713.140 and that otherwise complies wi…

(1) Except as provided in subsection (4) of this section and ORS 713.300, every extranational institution with one or more offices in this state shall deposit with the Director of the Department of Consumer and Business Services in an office located in this state of another bank …

If at the close of any banking day an extranational institution does not have on deposit the assets required to be maintained under ORS 713.025, the managing officer in charge of the office of the extranational institution shall immediately notify the Director of the Department o…

(1) If an extranational institution becomes insolvent or goes into voluntary or involuntary liquidation or cannot otherwise pay its deposit or other liabilities, the Director of the Department of Consumer and Business Services may take possession of the assets required to be depo…

(1) An out-of-state bank or extranational institution that conducts banking business in this state shall file reports under oath with the Director of the Department of Consumer and Business Services in the form and giving the information the director requires. (2) An out-of-state…

(1) Except as provided in subsection (2) of this section, the Director of the Department of Consumer and Business Services may not issue a certificate of authority to an out-of-state bank or extranational institution if the name of the out-of-state bank or extranational instituti…

(1) To procure a certificate of authority to conduct banking business in this state, an out-of-state bank or extranational institution shall apply to the Director of the Department of Consumer and Business Services. The application must state: (a) The name, in accordance with the…

(1) An out-of-state bank or extranational institution shall submit an application for a certificate of authority, together with an application fee of $2,500, to the Director of the Department of Consumer and Business Services for filing. The out-of-state bank or extranational ins…

After the Director of the Department of Consumer and Business Services issues a certificate of authority, the out-of-state bank or extranational institution is authorized to conduct banking business in this state, subject, however, to the right of this state to suspend or revoke …

An out-of-state state bank or extranational institution authorized to conduct banking business in this state shall have and continuously maintain in this state: (1) A registered office that may be, but need not be, the same as the out-of-state state bank’s or extranational instit…

(1) A registered agent appointed by an out-of-state bank or extranational institution authorized to transact business in this state must be an agent of the out-of-state bank or extranational institution upon which may be served process, notice or demand required or permitted by l…

(1) An out-of-state bank or extranational institution that has a certificate of authority to conduct banking business in this state shall deliver copies of documents that the out-of-state bank or extranational institution filed with the Secretary of State pursuant to ORS chapters…

(1) An out-of-state bank or extranational institution that has a certificate of authority to conduct banking business in this state may withdraw from this state by applying to the Director of the Department of Consumer and Business Services to withdraw. An application to withdraw…

(1) An out-of-state bank or extranational institution that applies to withdraw from this state under ORS 713.210 must deliver the application to the Director of the Department of Consumer and Business Services. If the director finds that the application conforms to the provisions…

A certificate of authority for an out-of-state bank or extranational institution to conduct banking business in this state may be revoked if the out-of-state bank or extranational institution: (1) Failed to file a report or pay a fee required under the Bank Act; (2) Failed to app…

(1) If an out-of-state bank or extranational institution has given cause for revocation of a certificate of authority as provided in ORS 713.230 and has failed to correct the neglect, omission, misrepresentation or delinquency, the Director of the Department of Consumer and Busin…

(1) An out-of-state bank or extranational institution that conducts banking business in this state without a certificate of authority may not maintain an action, suit or proceeding in a court of this state until the out-of-state bank or extranational institution obtains a certifi…

If an out-of-state bank or extranational institution that has a certificate of authority under ORS 713.020 ceases to exist because of a statutory merger or consolidation with any other out-of-state bank, an extranational institution or other entity, the resulting institution shal…

(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 converti…

The Director of the Department of Consumer and Business Services may not deny a certificate of authority to an out-of-state bank or extranational institution solely because the laws of the state or country under which the out-of-state bank or extranational institution is organize…

An extranational institution may not accept deposits at an office in this state in an amount less than $250,000, unless the Federal Deposit Insurance Corporation insures the insurable deposits of the office or the Federal Deposit Insurance Act and the regulations of the Federal D…

(1) For purposes of this section, “foreign association” means a corporation organized to transact savings and loan business under federal law or under the laws of another state or territory of the United States, the home state or territory of which is a state or territory other t…

The Director of the Department of Consumer and Business Services may impose on any person that violates any provision of this chapter a civil penalty of up to $1,000 for each day during which the offense continues. The penalty shall be assessed and collected in the manner prescri…

Banking institutions shall not establish or maintain branches except as expressly authorized in ORS 714.025 to 714.079 and 714.995. [1997 c.631 §312]

(1)(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 Depar…

A banking institution may, in accordance with ORS 714.025, establish one or more mobile facilities to engage in the banking business or to transact trust business. Mobile banking facilities may operate within this state and in other states. [1997 c.631 §314; 2015 c.244 §88b]

(1) A banking institution may establish branches in foreign countries or dependencies or insular possessions of the United States in accordance with ORS 714.025 if it possesses stockholder’s equity of at least $1 million. (2) A banking institution operating such branches shall fu…

The Director of the Department of Consumer and Business Services shall investigate each notice that a banking institution files under ORS 714.025. With respect to notices for branches that the banking institution will locate outside this state, the director shall promptly provide…

With respect to notices to establish branches in this state or another state, the Director of the Department of Consumer and Business Services may limit or restrict a banking institution’s ability to establish a branch, except that the director’s failure to limit or restrict the …

At a banking institution’s request, the Director of the Department of Consumer and Business Services shall issue and deliver a certificate to authorize each branch for which the banking institution has given notice under ORS 714.025 to conduct business. [1997 c.631 §318; 2015 c.2…

A branch shall commence business within one year after the banking institution files notice with the Director of the Department of Consumer and Business Services under ORS 714.025. The director may extend for one additional year the period within which the banking institution may…

(1) A banking institution may exercise the same powers and engage in the same activities at a branch or branches located in states outside this state as are permitted the banking institution within this state. (2) A banking institution may exercise the same powers and engage in t…

Upon the call for a report of condition by the Director of the Department of Consumer and Business Services: (1) Each Oregon commercial bank and Oregon savings bank shall report to the director the total deposits held at each of its branches; and (2) Each non-Oregon institution a…

A banking institution may close and relocate branches provided the banking institution provides the Director of the Department of Consumer and Business Services with a copy of any notice required under 12 U.S.C. 1831r-1(a), or comparable federal law, at the time and in the form r…

(1) An out-of-state bank may occupy and maintain the out-of-state bank’s initial branches in this state if and only if the out-of-state bank acquires the branches in accordance with ORS chapters 711 and 713. (2) An out-of-state bank that is properly occupying and maintaining one …

(1) An extranational banking institution may occupy and maintain branches in this state as permitted by ORS chapter 713 and applicable federal law. (2) An extranational banking institution may exercise powers and engage in activities at branches located in this state as permitted…

(1) If the operator of an ATM charges a fee to any person to use the ATM, the operator shall disclose to persons using the ATM that a fee will be imposed for the ATM transaction. (2) Subject to subsection (3) of this section, the disclosure required under subsection (1) of this s…

(1) A banking institution, through its own facilities or those of an entity described in ORS 708A.160, may make available for use by its customers and others one or more ATMs. Every transaction initiated through an ATM shall be subject to verification by the banking institution e…

No person shall use or attempt to use an ATM facility for the purpose of obtaining any information concerning an account or line of credit other than the person’s own account or line of credit without the prior approval of an authorized signer on the account or line of credit. No…

(1) It is the intent of the Legislative Assembly in enacting ORS 714.280 to 714.315 to enhance the safety of consumers using ATMs and night deposit facilities in Oregon without discouraging the siting of ATMs and night deposit facilities in locations convenient to consumers’ home…

Before installing any ATM or night deposit facility, the operator shall adopt procedures for evaluating the safety of the ATM or night deposit facility. For ATMs and night deposit facilities installed on or before July 1, 1994, operators shall adopt procedures not later than July…

(1) Each operator of an ATM or night deposit facility installed after July 1, 1994, shall comply with ORS 714.295. Compliance with ORS 714.295 by operators of ATMs and night deposit facilities existing on or before July 1, 1994, shall be optional until July 1, 1996, and mandatory…

The operator, owner or other person responsible for the ATM or night deposit facility shall provide lighting during hours of darkness for an open and operating ATM or night deposit facility and any defined parking area, access area and the exterior of an enclosed ATM or night dep…

The issuers of access devices shall furnish customers receiving the devices with notices of basic safety precautions which customers should employ while using an ATM or night deposit facility. This information shall be furnished by personally delivering or by mailing the informat…

The requirements of ORS 714.280 (2) and 714.285 to 714.295 shall not apply to any ATM or night deposit facility that is: (1) Located inside of a building, unless it is a freestanding installation that exists for the sole purpose of providing an enclosure for the ATM or night depo…

ORS 714.210 to 714.315 supersede and preempts all rules, regulations, codes, statutes or ordinances of all cities, counties, municipalities and local agencies regarding customer safety at ATMs or night deposit facilities located in Oregon. [1993 c.381 §16]

Compliance with ORS 714.280 to 714.300 shall create a rebuttable presumption that the operator of the ATM or night deposit facility in question has provided adequate measures for the safety of users of the ATM or night deposit facility. [1993 c.381 §17]

Violation knowingly of ORS 714.270 is a Class C felony. [1975 c.193 §10]

Each day a banking institution operates a branch with respect to which the banking institution has not filed notice with the Director of the Department of Consumer and Business Services under ORS 714.025, the banking institution is subject to a penalty of up to $1,000. The penalt…