ORS 722.506¹
Issuance of certificate to foreign association

(1) The Director of the Department of Consumer and Business Services shall issue a certificate of authority to the association to conduct savings and loan business in this state when:

(a) A foreign association has complied with ORS 722.504 (Application for certificate of authority);

(b) The director has examined and investigated according to the procedures set forth in ORS 722.024 (Investigation of application) (1) to (4), whether the application of the association should be granted; and

(c) The director has verified the financial status of the association by examination of its assets and its records for the purpose of ascertaining whether they meet the requirements of this chapter.

(2) Notwithstanding subsection (1) of this section, the director shall not issue the certificate under subsection (1) of this section unless:

(a) The director is satisfied that the association is in sound financial condition, and that it is conducting its business, and will conduct its business in this state in a manner consistent with the laws of this state;

(b) The director regards the association as safe, reliable and entitled to public confidence;

(c) The association pays the proper annual fee; and

(d) The director finds that the appropriate standards for approval of the application set forth in ORS 722.026 (Grounds for approval or denial of application for certificate of incorporation) are satisfied.

(3) The certificate of authority continues in effect unless revoked as authorized by ORS 722.516 (Revocation of certificate of authority). [Formerly 722.835; 1981 c.472 §25]

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