2011 ORS § 716.905¹
Notice of intention to close
- • disposition of unclaimed deposits
(1) Acting under ORS 716.900 (Voluntary dissolution of Oregon nonstock banks) the directors shall direct the mailing of a written notice of their intention to close the Oregon nonstock bank to the last-known address of all depositors and other creditors.
(2) All deposits and amounts reserved for creditors that remain unclaimed after six months from the date of the written notice required under subsection (1) of this section shall be reported and transferred by the directors to the Department of State Lands as unclaimed property under ORS 98.302 (Definitions for ORS 98.302 to 98.436) to 98.436 (Short title) and 98.992 (Penalty for failure to report, pay or deliver property under ORS 98.302 to 98.436).
(3) A copy of the report of unclaimed deposits and amounts reserved for creditors filed with the Department of State Lands shall be filed with the Director of the Department of Consumer and Business Services. [1973 c.797 §395; 1983 c.37 §31; 1993 c.694 §38; 1997 c.631 §361]