2011 ORS § 706.795¹
Rules authorizing banking institutions to exercise powers of certain financial institutions

Notwithstanding any other provision of law, the Director of the Department of Consumer and Business Services may, in accordance with ORS 183.310 (Definitions for chapter), 183.315 (Application of provisions of chapter to certain agencies), 183.330 (Description of organization), 183.335 (Notice) and 183.341 (Model rules of procedure) to 183.410 (Agency determination of applicability of rule or statute to petitioner), make rules authorizing banking institutions to exercise any of the powers conferred upon any financial institution that is accepting deposits or transacting trust business in this state, if the director finds that the exercise of the power:

(1) Serves the public convenience and advantage; and

(2) Equalizes and maintains the quality of competition between banking institutions and other financial institutions. [Formerly 706.555; 1997 c.631 §23]