2015 ORS 711.430¹
Placing business in control of director
  • notice

(1) An institution may place its property and affairs under the control of the Director of the Department of Consumer and Business Services to be liquidated by notifying the director of its proposed action and by posting a notice on its doors as follows: "This Bank (or Trust Company) Is Under the Control of the Department of Consumer and Business Services."

(2) The posting of the notice or the taking possession of an institution by the director is sufficient to place all its property and affairs of whatever nature in the possession of the director and operates as a bar and dissolution to any attachment proceedings. [Amended by 1973 c.797 §254; 1975 c.544 §36; 1987 c.373 §54]

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 (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 711, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano711.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.