Revocation of certificate of authority
- • dissolution
(1) The Director of the Department of Consumer and Business Services may revoke the certificate of authority of a domestic or a foreign association for violation of the provisions of this chapter.
(2) The director may revoke the certificate of authority of a new domestic association and may dissolve the association when the association fails to obtain insurance of accounts and commence business within the time allowed by ORS 722.046 (Time allowed to secure insurance of accounts and commence business).
(3) The director may dissolve a domestic association:
(a) When the report of the initial board of directors is not filed within the time allowed by ORS 722.032 (Function of initial board).
(b) After the effective date of an order issued under ORS 722.036 (Issuance or denial of certificate of authority) denying a certificate of authority.
(4) The director shall dissolve an association as provided by ORS 57.585 (1985 Replacement Part). The director, prior to the dissolution, may appoint a conservator as provided by ORS 722.474 (Appointment of conservator) if the director finds that liquidation of the affairs of the association should precede the dissolution of the association. [1975 c.582 §49; 1981 c.633 §79; 1983 c.717 §34; 1985 c.728 §105; 1987 c.197 §15]
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