2017 ORS 711.135¹
Action by director on plan of merger or share exchange involving Oregon stock bank
  • appeal

(1) Within 90 days after the Director of the Department of Consumer and Business Services receives the materials and fee specified in ORS 711.130 (Approval of plan of merger or share exchange involving Oregon stock bank), unless the director extends the time in concurrence with the applicants, the director shall approve or disapprove a plan of merger or plan of share exchange. The director shall approve the plan of merger or plan of share exchange if the director finds that:

(a) The transaction conforms with the provisions of the Bank Act;

(b) The transaction will not be detrimental to the safety and soundness of the resulting insured stock institution or the Oregon stock bank to be acquired through a share exchange;

(c) The transaction is not contrary to the public interest; and

(d) The director is satisfied that the state or federal supervisory authority that has jurisdiction over the resulting insured stock institution or acquiring company permits the transaction.

(2) If the director disapproves a plan of merger or plan of share exchange, the director shall state any objections in writing and give the boards of the parties to the transaction an opportunity to amend the plan of merger or plan of share exchange to obviate the objections. The amended plan of merger or plan of share exchange must be submitted to the director for approval as if the amended plan were the original plan of merger or plan of share exchange.

(3) Any of the parties to the transaction may appeal the decision of the director as provided in ORS 183.415 (Notice of right to hearing) to 183.500 (Appeals). [1997 c.631 §272; 2015 c.244 §82]

Chapter 711

Atty. Gen. Opinions

Applicability of licensing and registra­tion require­ments under Bank Act to loan solicita­tion office operating in Oregon, (1985) Vol. 44, p 378

1 Legislative Counsel Committee, CHAPTER 711—Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors711.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 711, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano711.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.