ORS 722.132¹
Payment for stock issued by a stock association

The consideration for the issuance of stock of a stock association shall be paid in money or payment in tangible assets at fair market value. When payment of the consideration for which shares of stock are to be issued has been received by the association, such stock shall be considered fully paid and nonassessable. This section shall not be considered to limit or prohibit an association from establishing stock option, performance share or other benefit plans involving stock, or issuing stock under such a plan, if the association has received a certificate of authority and has satisfied all conditions the Director of the Department of Consumer and Business Services has attached to the certificate. [1975 c.582 §67; 1981 c.472 §8]

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