ORS 708A.410¹
Savings accounts
  • conditions for withdrawal
  • interest rate

(1) Within the limits established under applicable federal statutes and regulations, an Oregon commercial bank receiving savings accounts shall prescribe by its bylaws or by contract with its depositors, the time and conditions on which repayment is to be made to depositors or to their order.

(2) A bank may require 30 days’ notice to withdraw any sum up to $5,000, 90 days’ notice to withdraw any sum over $5,000 and not over $50,000, and 180 days’ notice to withdraw any sum over $50,000. Withdrawals during a specified time period may be limited in the aggregate to the amount designated for that time period.

(3) Except for negotiable orders of withdrawal and similar deposit accounts, withdrawal from which is made subject to check, an Oregon commercial bank shall not knowingly permit a depositor to overdraw the depositor’s savings account. [1997 c.631 §163]

1 Legislative Counsel Committee, CHAPTER 708A—Regulation of Institutions Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors708A.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
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