ORS 722.419¹
Public inspection of records of department pertaining to this chapter
  • exemptions

(1) Except as provided in subsections (2) and (3) of this section, the records of the Department of Consumer and Business Services pertaining to the administration of this chapter are available for public inspection unless the Director of the Department of Consumer and Business Services determines in the particular instance that the public interest in disclosure of the records is outweighed by the interests of an association or its directors, officers, employees, members and customers in keeping the records confidential, or that the records are exempt from disclosure under ORS 192.501 (Public records conditionally exempt from disclosure) to 192.505 (Exempt and nonexempt public record to be separated). A determination by the director under this subsection is subject to review under ORS 192.410 (Definitions for ORS 192.410 to 192.505) to 192.505 (Exempt and nonexempt public record to be separated).

(2) Except as provided in subsections (6) and (7) of this section, the following records of the department pertaining to the administration of this chapter are exempt from disclosure or production and shall be treated as confidential as provided in ORS 705.137 (Information that is confidential or not subject to disclosure):

(a) Examination reports and work papers, directives, orders and correspondence that relate to examination reports.

(b) Investigatory information concerning persons subject to investigation by the director under ORS 722.024 (Investigation of application), 722.026 (Grounds for approval or denial of application for certificate of incorporation), 722.036 (Issuance or denial of certificate of authority), 722.134 (Sale or transfer of stock), 722.459 (Investigation of new director, president and managing officer) or 722.506 (Issuance of certificate to foreign association), and financial statements of such persons.

(c) Proprietary information.

(d) Audits submitted to the director under ORS 722.434 (Financial statements and audits) (3).

(e) Reports submitted to the director under ORS 722.458 (Records of extensions of credit by domestic associations).

(f) Stockholder lists.

(g) The name of a depositor or debtor described in subsection (3) of this section and the amount of the person’s deposit or debt.

(3) The director or any other person employed by the department and acting under this chapter shall not knowingly disclose the name of any person who is a depositor or debtor of an association, or the amount of the person’s deposit or debt, except that the director or the employee may disclose such information as may be necessary in the performance of the director’s or employee’s official duty including any duty under ORS 295.018 (Increase in required collateral of bank depository).

(4) Statements of financial condition filed under ORS 722.434 (Financial statements and audits) (1) are not confidential.

(5) A civil penalty imposed by the director shall become subject to public inspection after the 20th day after the director imposes the civil penalty.

(6) Notwithstanding subsection (2) of this section, the director may disclose any record of the section specified in this subsection pertaining to an association that has been liquidated if the director determines in the particular instance that the public interest in disclosure of the record outweighs the interests of the association or its directors, stockholders, officers, employees or customers in keeping the record confidential. Under no circumstances, however, shall the director disclose any such record or portion thereof that contains any proprietary information or any information relating to the individual financial activities or affairs of persons unless the director concludes that those activities or affairs were a direct and substantial contributing factor in the failure of the association. This subsection applies to the following records of the section:

(a) Examination reports and work papers, directives, orders and correspondence relating to examination reports;

(b) Investigatory information concerning persons subject to investigation by the director under ORS 722.024 (Investigation of application), 722.026 (Grounds for approval or denial of application for certificate of incorporation), 722.036 (Issuance or denial of certificate of authority), 722.134 (Sale or transfer of stock), 722.459 (Investigation of new director, president and managing officer) or 722.506 (Issuance of certificate to foreign association);

(c) Audits submitted to the director under ORS 722.434 (Financial statements and audits) (3); and

(d) Reports filed under ORS 722.458 (Records of extensions of credit by domestic associations).

(7) Notwithstanding ORS 40.270 (Rule 509. Public officer privilege), an officer of the department may be examined concerning records that are exempt from disclosure under subsection (1), (2) or (3) of this section and the records are subject to production if the court before which a civil or criminal action is pending finds that such examination and production is essential for establishing a claim or defense. In making a finding under this subsection, if the court views the records, the court shall do so in camera.

(8) In addition to the authority granted the director in ORS 705.137 (Information that is confidential or not subject to disclosure), all records of the department pertaining to the condition of associations may be furnished to:

(a) Representatives of savings and loan departments of other states.

(b) Representatives of the Federal Housing Finance Board, Washington, D.C., a Federal Home Loan Bank or other federal or state financial agency organized under the laws of the United States or of this state and authorized to loan to or otherwise act as a reserve or insuring agency for savings associations.

(c) The State Treasurer if the association is a depository of public fund deposits.

(9) If the director is requested to disclose any record subject to this section and the record contains both material that is exempt from disclosure under this section or any other provision of law and material that is not exempt from disclosure, the director shall separate the exempt and nonexempt material and shall disclose only the nonexempt material. [1985 c.786 §60; 1985 c.762 §66a; 1987 c.373 §58; 1999 c.107 §7; 2001 c.377 §24]

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