Approval of branch application
- • right to hearing if approval denied
- • list of branch facilities
(1) The Director of the Department of Consumer and Business Services shall approve an application filed under ORS 722.448 (Application for approval to establish branch or change location of branch) if:
(a) The population in the community where the branch facility or principal office is to be located, relocated or operated affords a reasonable promise of adequate support for the branch facility or principal office;
(b) The financial structure and earnings of the association are adequate to support the expense of establishing the branch or relocating the branch or principal office; and
(c) The establishment and operation of the branch facility or relocation of the branch or principal office will serve the public convenience and advantage.
(2) If an application is denied, the order shall contain a statement of the reason for the denial and notify the applicant of its right to a contested case hearing under ORS chapter 183.
(3) If an association does not commence operation of a branch facility or change the location of a branch facility or the principal office within a reasonable time after the date of the order approving the application, the approval shall be revoked by the director.
(4) The director shall maintain a record of the number and location of all branch facilities of associations. [1975 c.582 §124; 1985 c.762 §70]
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