ORS 716.520
Investments in bankers’ acceptances, bills of exchange, savings or time accounts

  • limits

(1)

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in:

(a)

Bankers’ acceptances and bills of exchange of the kind and maturities made eligible by law for rediscount with Federal Reserve Banks, if they are accepted by an institution or a national bank.

(b)

Bills of exchange drawn by the seller on the purchaser of goods and accepted by the purchaser, if they are of the kind and maturities made eligible by law for rediscount with Federal Reserve Banks and are indorsed by a national bank or an institution.

(c)

Savings or time accounts insured in part or wholly by an agency of the federal government.

(2)

Not more than 20 percent of the assets of a savings bank may be invested in the acceptances mentioned in subsection (1) of this section. Not more than five percent of the aggregate credited to the depositors of a savings bank may be invested in the acceptances of or deposited with an institution or a national bank of which a director of the savings bank is a director. The aggregate amount of the liability of an institution or a national bank to a savings bank, whether as principal or indorser, for acceptances held by the savings bank and deposits made with it, may not exceed 25 percent of the stockholders’ equity of the institution or of the paid-in capital and retained earnings of the national bank. [Amended by 1973 c.797 §376; 1999 c.59 §223]

Source: Section 716.520 — Investments in bankers’ acceptances, bills of exchange, savings or time accounts; limits, https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html.

716.024
Provisions of Bank Act applicable to Oregon savings banks and Oregon stock savings banks
716.028
Application for authority to organize
716.032
Investigation and ruling on application
716.040
Articles of incorporation
716.050
Approval of articles
716.055
Creation of guaranty and expense funds
716.060
Maintenance of guaranty fund or liquidation account
716.070
Expense fund
716.080
Issuance of charter
716.100
Effect of failure to complete organization
716.120
Conditions precedent to transaction of business
716.135
Amendment of articles of incorporation
716.140
Resolution for amending articles
716.145
Form and content of articles of amendment
716.160
Restated articles of incorporation
716.180
Bylaws
716.185
Registered agent
716.187
Changes in registered office or agent
716.190
Resignation of registered agent
716.195
Service of process on Oregon savings bank
716.205
Salaries of certain directors
716.210
Number and qualifications of directors
716.320
Removal of director
716.410
Limitations on investments
716.420
Permitted investments
716.441
Investments in equipment trust certificates
716.450
Investments in certain obligations
716.460
Investments in demand notes secured by deposit accounts
716.520
Investments in bankers’ acceptances, bills of exchange, savings or time accounts
716.530
Investments in corporate bonds, notes and debentures
716.535
Investments in common stock of federally chartered corporation providing secondary mortgage sale markets and Federal Home Loan Bank
716.540
Investments in obligations of reconstruction and development banks
716.545
Investments in bonds of Dominion of Canada
716.552
Investments in notes or bonds secured by real estate mortgages or trust deeds
716.554
Participation in investments in notes or bonds secured by real estate mortgages or trust deeds
716.556
Investment in loans secured by pledged notes or bonds
716.558
Investment in notes or bonds secured by mortgages or trust deeds on real property leases
716.562
Investment in notes or bonds secured by mortgages or trust deeds to finance building construction and improvement
716.564
Investment in notes or bonds secured by mortgages or trust deeds to finance real estate development
716.566
Documents to be furnished by borrower in real estate loans
716.568
Requirement of insurance for loan secured by mortgage, trust deed or other instrument on real estate
716.572
Mortgage loan applications
716.574
Purchase of real estate sale contract as loan
716.578
Purchase of notes secured by real estate from third persons
716.584
Limitations on single loans on real estate
716.586
Credit card transactions
716.588
Investments in certain corporate capital stocks
716.590
Miscellaneous investments
716.592
Pledging assets to secure public funds
716.594
Authority of Oregon savings bank to acquire corporation licensed as insurance producer
716.600
Relationship to powers of federal savings banks
716.610
General powers
716.626
Certificates indicating contribution to guaranty or expense funds
716.630
Real estate held for use as place of business
716.780
Crediting portion of net earnings to guaranty fund
716.790
Computation of guaranty fund
716.800
Repayment of contributions made to expense fund and guaranty fund
716.805
Determining earnings
716.830
Payment of dividends
716.840
Liability of directors voting improper dividend
716.850
False advertising of surplus or guaranty fund prohibited
716.900
Voluntary dissolution of Oregon nonstock banks
716.905
Notice of intention to close
716.910
Report to director
716.915
Voluntary liquidation
716.991
Civil penalties
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