ORS 722.436¹
Examinations by director
  • report
  • examination program with federal regulators
  • acceptance of federal or other state examinations

(1) Except as provided under subsections (4) and (5) of this section, every two years, or more often if the Director of the Department of Consumer and Business Services considers it advisable, the director, either in person or through an examiner, shall make an examination of the books, records and affairs of every domestic and foreign association.

(2) The examiner shall prepare a report of the examiner’s findings and file it with the director. The examiner shall include in the report any violation of law or any unauthorized or unsafe practices of the association disclosed by the examination.

(3) The director shall furnish a copy of the report to the association examined and, upon request, may furnish a copy of or excerpts from the report to the Federal Housing Finance Board, Federal Home Loan Bank or other federal or state agency authorized to loan to or otherwise act as an insuring agency for savings and loan associations. When the director furnishes a copy of a report of an association to an agency under this subsection, the director shall immediately inform the association of the agency making the request and the part of the report furnished.

(4) The director may participate in any program offered by the Federal Housing Finance Board, a Federal Home Loan Bank or the Federal Deposit Insurance Corporation that provides for joint alternate examinations of savings associations by the director and the Federal Housing Finance Board, a Federal Home Loan Bank or the Federal Deposit Insurance Corporation.

(5) Instead of performing an examination under subsection (1) of this section, the director may accept an examination or report made by the Federal Housing Finance Board or a Federal Home Loan Bank or by the regulator of savings associations in another state. [1975 c.582 §118; 1981 c.472 §21; 1985 c.762 §68; 1985 c.786 §61; 1987 c.373 §58a; 1991 c.67 §192; 1999 c.107 §8]

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