Investigation of new director, president and managing officer
- • fingerprinting
- • disapproval of election or appointment
(1) After a certificate of authority to commence business has been issued to a savings association, before a person first takes office as director, president or managing officer, the name of the person shall be submitted to the Director of the Department of Consumer and Business Services, with any information about the person that the director may require.
(2) The director shall investigate each person whose name is submitted under this section to determine the character, honesty, financial responsibility and competence of the person. In the course of investigating any person under this section, the director may require the person to provide additional information for the director’s further inquiry. For the purpose of such further inquiry, the director may require the person to submit to fingerprinting. Fingerprints acquired under this subsection may be submitted to appropriate law enforcement agencies, including the Federal Bureau of Investigation, for the purpose of discovering any unlawful activities of the person.
(3) The director may disapprove the election or appointment of the person if the director determines that the person’s character, honesty, financial responsibility, experience or fitness does not command confidence or warrant the belief that the person will honestly and efficiently conduct the business of the savings association. The director shall issue the disapproval in writing to the board of directors that submitted the person’s name. A copy of the disapproval shall be served personally or by certified mail upon the disapproved person. The disapproval may be issued without a prior administrative hearing. A disapproval under this section must be made within 30 days after the name is submitted to the director. Thereafter, disapproval may be made only as provided in ORS 722.468 (Removal of association officer or employee).
(4) A person whom the director disapproves under this section may appeal the disapproval as a contested case pursuant to ORS 183.415 (Notice of right to hearing) to 183.500 (Appeals). [1985 c.786 §57]
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