2015 ORS 716.060¹
Maintenance of guaranty fund or liquidation account

(1) The guaranty fund or liquidation account consists of payments in cash made by the incorporators and of all sums credited to the guaranty fund as required by ORS 716.780 (Crediting portion of net earnings to guaranty fund) or federal law.

(2) If a financial institution that is converting to another type of financial institution has a guaranty fund or liquidation account, the Oregon nonstock bank that results from the conversion must maintain the guaranty fund or liquidation account and may use the guaranty fund or liquidation account only for the purposes for which the financial institution used the guaranty fund or liquidation account before the conversion. [Amended by 1973 c.797 §352; 1997 c.631 §336; 2011 c.263 §22]

Chapter 716

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 716—Savings Banks, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors716.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 716, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano716.­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.