Definitions for Bank Act
As used in the Bank Act, unless the context requires otherwise:
(1) "Access area" means any paved walkway or sidewalk within 50 feet of an automated teller machine or night deposit facility. "Access area" does not include publicly maintained sidewalks or roads.
(2) "Access device" means:
(a) An "access device" as defined in Federal Reserve Board Regulation E (12 C.F.R. Part 205) adopted under the Electronic Fund Transfer Act (15 U.S.C. 1601, et seq.); or
(b) A key or other mechanism issued by a financial institution to a customer to give the customer access to the institution’s or bank’s night deposit facility.
(3) "Acquisition transaction" means:
(a) The sale and purchase of all or substantially all of the assets of a bank that is not in the ordinary course of business of such bank; or
(b) The transfer and assumption of all or substantially all of the liabilities of a bank.
(4) "Automated teller machine" or "ATM" means any electronic information processing device located in this state that:
(a) Accepts or dispenses cash in connection with a credit, deposit or convenience account, provides information and initiates transactions in accordance with the request or instruction of a customer or the customer’s agent; and
(b) Is unstaffed except for persons installing the device, providing security or providing periodic servicing, maintenance or repair. The term does not include devices used solely to facilitate check guarantees or check authorizations, or used in connection with the acceptance or dispensing of cash on a person to person basis, such as by a store cashier.
(5) "Bank Act" means ORS chapters 706 to 716.
(6) "Banking business" or "business of banking" means the business of receiving or accepting money or its equivalent on deposit as a regular business whether the deposit is made subject to check or is evidenced by a certificate of deposit, a pass book or other writing or evidence, but does not include:
(a) Depositing money or its equivalent in escrow or with an agent, pending investments in real estate or securities for or on account of a principal;
(b) The business of a savings and loan association or a credit union;
(c) Deposits accepted in connection with the purchase or lease of property or services; or
(d) Accepting deposits through an ATM or night deposit facility.
(7) "Banking day" has the meaning given that term in ORS 708A.650 (Banking days).
(8) "Branch" means an office or other place, except a principal place of business or an ATM, at which:
(a) A bank engages in banking business; or
(b) A trust company transacts trust business.
(9) "Candlefoot power" means a light intensity of candles on a horizontal plane at 36 inches above ground level and 5 feet in front of the area to be measured.
(10) "Capital debentures" means capital notes, capital debentures and any other form of unsecured obligations issued by an institution or stock savings bank to evidence borrowings where the rights of the lender are subordinate to the rights of the depositors.
(11)(a) "Defined parking area" means that portion of any parking area opened for customer parking that is:
(A) Contiguous to the access area of an ATM or night deposit facility;
(B) Regularly, principally and lawfully used for parking by users of the ATM or night deposit facility while the users conduct transactions during hours of darkness; and
(C) Owned or leased by the operator of the ATM or night deposit facility or owned or controlled by the party leasing the ATM or night deposit facility site to the operator.
(b) "Defined parking area" does not include any parking area that is not open or regularly used for parking by users of the ATM or night deposit facility who are conducting transactions during the hours of darkness. A parking area is not open if it is physically closed to access or if conspicuous signs indicate that it is closed. If a multiple level parking area satisfies the conditions of paragraph (a) of this subsection and would therefore otherwise be a defined parking area, only the single parking level designated by the operator of the ATM and night deposit facility to be the most directly accessible to the users of the ATM and night deposit facility shall be a defined parking area.
(12) "Department" means the Department of Consumer and Business Services.
(13) "Director" means the Director of the Department of Consumer and Business Services.
(14) "Document of title" means document of title as defined in ORS 71.2010 (General definitions).
(15) "Federal Reserve Act" means the Act of Congress approved December 23, 1913 (38 Stat. 251), as amended.
(16) "Federal Reserve Bank" means the Federal Reserve Banks created and organized under the authority of the Federal Reserve Act.
(17) "Federal Reserve Board" means the Federal Reserve Board created and described in the Federal Reserve Act.
(18) "Home state" means:
(a) With respect to a state bank, the state under the laws of which the state bank is incorporated or otherwise organized;
(b) With respect to a federal bank, the state in which the main office of the federal bank is located;
(c) With respect to an extranational institution, the state determined to be the home state by election of the extranational institution, or in default of such election, by the Board of Governors of the Federal Reserve System; and
(d) With respect to a financial holding company or a bank holding company, the state in which the total deposits of all banking subsidiaries of such company are the largest on the date on which the company becomes a financial holding company or a bank holding company.
(19) "Hours of darkness" means the period that commences 30 minutes after sunset and ends 30 minutes before sunrise.
(20) "Loan production office" means a physical location in this state at which representatives of a financial institution hold themselves out to the public as providing loan origination services, leasing services or services of a similar nature, but at which representatives of the financial institution do not conduct banking business.
(21) "Merger" includes consolidation.
(22) "Night deposit facility" means a receptacle that is provided by a financial institution for the use of the institution’s customers in delivering cash, checks and other items to the financial institution.
(23) "Obligations" includes:
(a) The direct liability of the maker or acceptor of paper discounted with or sold to an institution;
(b) The liability of the drawer, indorser or assignor;
(c) If obligations of a copartnership or association, the obligations of the several members of the copartnership or association;
(d) If obligations of a corporation, the obligations of all subsidiaries of the corporation in which the corporation owns or controls 50 percent or more of the capital stock; and
(e) The liability of a lessee under a lease.
(24) "Officer" of a banking institution means a chief executive officer, president, any vice president, secretary, treasurer or cashier.
(25) "Operator" means any financial institution or other business entity, or any person who operates an ATM or night deposit facility.
(26) "Paid-in capital" means the aggregate amount received by an institution or stock savings bank from the issuance of its stock or transferred from retained earnings.
(27) "Person" means an individual, corporation, limited liability company, partnership, association, joint stock company, business trust or unincorporated organization.
(28) "Stockholders’ equity" means the aggregate of paid-in capital and retained earnings of an institution or Oregon stock savings bank.
(29) "Trust business" means:
(a) Acting as a trustee of a trust;
(b) Acting as a fiduciary, as defined in ORS 125.005 (Definitions);
(c) Acting as a personal representative, as defined in ORS 111.005 (Definitions for probate law);
(d) Acting as a receiver, trustee or assignee for the benefit of creditors; or
(e) Acting in a court-appointed position of trust or any other position of trust. [1973 c.797 §2; 1975 c.193 §1; 1975 c.725 §1; 1983 c.37 §1; 1985 c.12 §1; 1985 c.451 §1; 1985 c.627 §3; 1985 c.762 §16; 1987 c.373 §47; 1987 c.371 §1; 1987 c.445 §7; 1991 c.331 §109; 1993 c.229 §1; 1993 c.318 §6; 1993 c.744 §22; 1995 c.313 §1; 1997 c.631 §1; 1999 c.107 §1; 2001 c.377 §45; 2005 c.348 §123]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information