2015 ORS 713.010¹
Application of Bank Act to out-of-state banks and extranational institutions
  • powers of out-of-state bank

(1) Every activity that an out-of-state bank or extranational institution engages in while conducting a banking business in this state is subject to the applicable provisions of the Bank Act.

(2) Unless the laws of the out-of-state bank’s home state limit the powers and authorities of the out-of-state bank, an out-of-state bank that opens, occupies or maintains a branch in this state pursuant to and in accordance with the requirements of ORS 713.270 (Maintaining out-of-state bank branch in this state) and that has a certificate of authority from the Director of the Department of Consumer and Business Services to conduct banking business in this state under ORS 713.020 (Certificate of authority to conduct banking business) and 713.140 (Contents of application for certificate of authority) to 713.160 (Conduct of banking business under certificate of authority) has the same powers and authorities to engage in an activity in this state that an Oregon bank has under the laws of this state, except that an out-of-state bank may not transact trust business in this state unless the out-of-state bank complies with ORS chapter 709. [Amended by 1965 c.170 §2; 1967 c.333 §1; 1973 c.797 §307; 1975 c.725 §8; 1979 c.88 §13; 1997 c.631 §283; 2011 c.263 §2; 2015 c.244 §85]

Atty. Gen. Opinions

Applicability to issuance of letters of credit, (1972) Vol 36, p 125; coverage of loan solicita­tions in Oregon by out-of-state lenders under the Bank Act, and other regulatory pro­vi­sions, (1973) Vol 36, p 425; status of religious nonprofit organiza­tions serving as trustees of gifts and dona­tions, (1973) Vol 36, p 604

Chapter 713

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 713—Out-of-State Banks and Extranational Institutions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors713.­html (2015) (last ac­cessed Jul. 16, 2016).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 713, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano713.­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.