Prohibition against operation of certain foreign associations
- • exception
- • prohibition against savings and loan business by entity based in foreign country
(1) Except as provided in subsection (2) of this section, when the laws, regulations or administrative actions of any other state or any territory of the United States prohibit or unfairly impede an Oregon savings association from transacting business in the state or territory, then the savings associations of the other state or territory are prohibited from transacting business in this state, including but not limited to the establishment of new branch facilities.
(2) Subsection (1) of this section shall not govern the transaction of a savings and loan business in this state by an association of another state or territory if ORS 722.072 (Merger) authorizes the transaction.
(3) Associations or comparable corporation or business entities headquartered in a foreign country are prohibited from transacting a savings and loan business in this state. [1975 c.582 §141; 1981 c.472 §26; 1985 c.798 §5]
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