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Oregon Revised Statutes Financial Institutions § 706.630

Current as of January 01, 2023 | Updated by Findlaw Staff

(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.

(2)(a) In the report of condition required under subsection (1) of this section, an Oregon operating institution shall:

(A) Show the Oregon operating institution's assets and liabilities combined for all departments at the close of business on the day specified.

(B) Include a sworn statement as to the accuracy and truth of the report from an officer of the Oregon operating institution that makes the report and an attestation from not less than two directors of the Oregon operating institution.

(b) The Oregon operating institution shall transmit the report to the director within the time allowed by federal regulations for submitting reports of national bank associations to the federal regulatory agencies.

(3) The director may require additional reports of condition at any time. The additional reports must meet the requirements of subsection (2) of this section.

(4) Trust companies that do not conduct banking business need not submit the reports required in subsection (1) of this section, but shall submit reports that the director requires.

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Cite this article: FindLaw.com - Oregon Revised Statutes Financial Institutions § 706.630 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-53-financial-institutions/or-rev-st-sect-706-630/

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