2015 ORS 713.250¹
Limits on banks and institutions without certificates of authority

(1) An out-of-state bank or extranational institution that conducts banking business in this state without a certificate of authority may not maintain an action, suit or proceeding in a court of this state until the out-of-state bank or extranational institution obtains a certificate of authority.

(2) An out-of-state bank’s or extranational institution’s failure to obtain a certificate of authority to conduct banking business in this state does not impair the validity of a contract or an act of the out-of-state bank or extranational institution, and does not prevent the out-of-state bank or extranational institution from defending an action, suit or proceeding in a court of this state.

(3) An out-of-state bank or extranational institution that conducts banking business in this state without a certificate of authority is liable to this state for the years or partial years during which the out-of-state bank or extranational institution conducted banking business in this state without a certificate of authority. The amount of the liability is equal to all fees, assessments and other charges that the out-of-state bank or extranational institution would have paid under the Bank Act had the out-of-state bank or extranational institution duly applied for and received a certificate of authority to conduct banking business in this state and filed all reports required under the Bank Act, plus all penalties imposed under the Bank Act for failure to pay the fees and charges. The Attorney General may bring proceedings to recover amounts due this state under the provisions of this section. [1989 c.324 §70; 1997 c.631 §305; 2011 c.263 §17]

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.