2011 ORS § 713.016¹
Requirements for conducting banking business
- • deposit insurance
(1) An out-of-state bank may not conduct banking business in this state unless the Federal Deposit Insurance Corporation insures the out-of-state banks insurable deposits and the out-of-state bank has received a certificate of authority to conduct banking business 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).
(2) An extranational institution may not conduct banking business in this state unless the extranational institution complies with the requirements of ORS 713.025 (Assets requirement for extranational institutions). This subsection and ORS 713.025 (Assets requirement for extranational institutions) do not apply to an extranational institution that has a branch office in this state and was lawfully conducting banking business on December 31, 1966. [1973 c.797 §309; 1975 c.725 §10; 1997 c.631 §286; 2011 c.263 §3]