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Oregon Revised Statutes Financial Institutions § 716.630

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

(1) The cost of the land and buildings to be used by an Oregon nonstock bank for the transaction of its business shall not exceed:

(a) 50 percent of the guaranty fund and undivided profits account of the Oregon nonstock bank; or

(b) 50 percent of the capital, as defined in ORS 708A.290, of the Oregon stock savings bank.

(2) The Director of the Department of Consumer and Business Services may approve an amount in excess of the limitation prescribed under subsection (1) of this section if the director finds that an excess amount is reasonably necessary for the operation of the business and does not adversely affect the public interest.

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Cite this article: FindLaw.com - Oregon Revised Statutes Financial Institutions § 716.630 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-53-financial-institutions/or-rev-st-sect-716-630/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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