ORS 722.024¹
Investigation of application
  • notice of application filing
  • hearing
  • authority to require additional information
  • fingerprinting

(1) Upon receipt of an application and the documents described by ORS 722.022 (Application for incorporation), the Director of the Department of Consumer and Business Services shall promptly examine and investigate whether the formation of the association should be allowed and the application granted.

(2) Not less than 20 days prior to taking action on an application for a certificate of incorporation, the director shall give notice of the filing of the application as provided by subsection (3) of this section. The notice shall state:

(a) That the application has been filed and name the community where the principal office is to be located; and

(b) That either a hearing will be held on the application at a time, date and place given in the notice, or that a hearing will be held if any person objects on relevant grounds to the granting of the application and files a request for a hearing with the director prior to a date given in the notice.

(3) Notice shall be given:

(a) By publishing the notice one time in a newspaper, designated by the director, of general circulation in the community in which the principal office of the proposed association is to be located;

(b) By mailing copies to all domestic, foreign and federal associations transacting business in this state; and

(c) By mailing copies of the notice to persons who have requested notice pursuant to ORS 183.335 (Notice) (8).

(4) If a hearing is held because of a request, notice of the hearing shall be given as provided by subsection (3) of this section and shall name the time, date and place of the hearing. At any hearing any person may appear in person or by agent or attorney and orally or in writing show cause upon any relevant ground why the application should or should not be granted.

(5) In the course of investigating any person named as incorporators and proposed directors and officers in the articles of incorporation under ORS 722.022 (Application for incorporation), the director may require the person to provide additional information for the director’s further inquiry. For the purpose of such further inquiry, the director may require the person to submit to fingerprinting.

(6) Fingerprints acquired under subsection (5) of this section may be submitted to appropriate law enforcement agencies, including the Federal Bureau of Investigation, for the purpose of discovering any unlawful activities of the person. [1975 c.582 §38; 1977 c.161 §5; 1979 c.593 §33; 1979 c.863 §1a; subsections (5) and (6) enacted as 1985 c.786 §56; 2001 c.220 §6]

1 Legislative Counsel Committee, CHAPTER 722—Savings Associations, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­722.­html (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