2007 ORS 711.405¹
When institution deemed insolvent
  • rules

An institution will be deemed insolvent when any of the following occurs:

(1) The fair market value of the assets of the institution is insufficient to pay its liabilities, other than liability on account of capital debentures. In determining the value of its assets, bonds held by the institution shall be valued in accordance with rules promulgated by the Director of the Department of Consumer and Business Services pursuant to ORS 183.310 (Definitions for chapter), 183.315 (Application of provisions of chapter to certain agencies), 183.330 (Description of organization), 183.335 (Notice) and 183.341 (Model rules of procedure) to 183.410 (Agency determination of applicability of rule or statute to petitioner).

(2) An Oregon stock bank fails to make good its reserve requirements under applicable law for a period of 30 days.

(3) The institution cannot meet its obligations or the demands upon it as they become due. [Amended by 1973 c.797 §251; 1975 c.544 §35; 1997 c.631 §242]

Chapter 711

Atty. Gen. Opinions

Applicability of licensing and registra­tion require­ments under Bank Act to loan solicita­tion office operating in Oregon, (1985) Vol. 44, p 378

1 Legislative Counsel Committee, CHAPTER 711—Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­711.­html (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 711, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­711ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
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.