Disposition of real and personal property
(1) An institution shall promptly dispose of real and personal property that the institution may not own or hold under the Bank Act.
(2) An institution shall sell or exchange real estate that the institution acquires in accordance with ORS 708A.175 (Right to purchase, hold and dispose of real and personal property) (3) and (4) for other real estate within 10 years after title has vested in the real estate, unless the Director of the Department of Consumer and Business Services extends the time. Title vests for purposes of this section on the date the institution receives a deed to the real estate. An institution may not exchange real estate for other real estate without the director’s prior written consent. An institution may hold real estate the institution takes in exchange for other real estate for a period of time that the director fixes, not to exceed 10 years from the date of the exchange.
(3) An institution shall promptly dispose of personal property the institution acquires under ORS 708A.175 (Right to purchase, hold and dispose of real and personal property) (3). [1997 c.631 §135; 2011 c.478 §2; 2015 c.244 §41]
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.