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Oregon Revised Statutes Financial Institutions § 716.055

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

Before an Oregon nonstock bank may conduct its business, its incorporators shall create:

(1) A guaranty fund, as provided in ORS 716.060, for the protection of its depositors against loss on its investments, and

(2) An expense fund, as provided in ORS 716.070, to pay the expense of organizing the Oregon nonstock bank and the operating expenses.

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Cite this article: FindLaw.com - Oregon Revised Statutes Financial Institutions § 716.055 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-53-financial-institutions/or-rev-st-sect-716-055/

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