2011 ORS § 713.010¹
Application of Bank Act to out-of-state banks and extranational institutions
- • powers of out-of-state bank
(1) Every activity that an out-of-state bank or extranational institution engages in while conducting a banking business in this state is subject to the applicable provisions of the Bank Act.
(2) An out-of-state bank that opens, occupies or maintains a branch in this state pursuant to and in accordance with the requirements of ORS 713.270 (Maintaining out-of-state bank branch in this state) and that has a certificate of authority from the Director of the Department of Consumer and Business Services to conduct banking business in this state pursuant to ORS 713.020 (Certificate of authority to conduct banking business) and 713.140 (Contents of application for certificate of authority) to 713.160 (Conduct of banking business under certificate of authority) has the same powers to engage in an activity in this state that the out-of-state bank has under the laws of the out-of-state banks home state, except that an out-of-state bank may not transact trust business in this state unless the out-of-state bank complies with ORS chapter 709. If a conflict exists between the provisions of this chapter and the provisions of the laws of the home state of the out-of-state bank, the laws of the out-of-state banks home state control. [Amended by 1965 c.170 §2; 1967 c.333 §1; 1973 c.797 §307; 1975 c.725 §8; 1979 c.88 §13; 1997 c.631 §283; 2011 c.263 §2]