Oregon Revised Statutes Financial Institutions § 706.500

(1) Each banking institution is subject to the inspection of the Director of the Department of Consumer and Business Services. The director shall conduct an examination of the condition and resources of each banking institution and determine whether the banking institution is complying with the laws of this state and such other matters as the director may prescribe. Except as provided in subsections (3) and (5) of this section, the director shall conduct examinations not more than 24 months apart.

(2) Subject to ORS 706.515, the director may at any time examine any branch of a non-Oregon institution located in this state, for the same purposes and to the same extent as provided in the case of banking institutions.

(3) The director may participate in any program that the Federal Deposit Insurance Corporation or the Federal Reserve Board provides for joint or alternate examinations of banking institutions and non-Oregon institutions.

(4) In addition to an examination under subsection (1), (2) or (3) of this section, the director may conduct an examination of a banking institution at any other time.

(5) Instead of conducting an examination of a banking institution or non-Oregon institution under subsection (1), (2) or (3) of this section, the director may accept an examination or report made under the Federal Reserve Act or under other statutes of the United States.