ORS 722.046¹
Time allowed to secure insurance of accounts and commence business

(1) A new association shall secure insurance of its savings accounts as provided by ORS 722.048 (Insurers of accounts) and commence business within six months after the date the certificate of authority to do business is issued.

(2) If the association does not secure insurance and commence business within the time allowed, on application of the association prior to the expiration of the time and upon good cause shown, the Director of the Department of Consumer and Business Services may extend the time for an additional period not to exceed six months. [1975 c.582 §47]

1 Legislative Counsel Committee, CHAPTER 722—Savings Associations, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors722.­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