ORS 716.586
Credit card transactions


(1)

A savings bank may issue and honor credit cards for the purpose of making loans to one or more persons. The loans shall be made by the means determined by the board of investment of the savings bank including, but not limited to, the means of paying to or for the account of a party the amount of a sales slip, voucher or other evidence of a transaction in which goods or services are sold or cash advanced to the party in reliance on a credit card issued by the savings bank.

(2)

The savings bank may advance cash to a person holding a credit card issued by the savings bank or any other person who, directly or indirectly, has agreed to pay to or for the account of the savings bank the amount of cash advanced by it in reliance on credit cards issued by the other person.

(3)

Credit cards, loans, advances and documents used in connection with the use of credit cards shall be in the form and upon the terms and conditions prescribed by the board of investment of the savings bank, including, but not limited to, terms and conditions as to revocation, rates of interest and other charges, maturity dates and security, if any.

(4)

A savings bank may become a stockholder, member of, or otherwise affiliated with, an organization that, in the opinion of the board of directors of the savings bank, will enable the savings bank to exercise fully the powers granted under this section. [1973 c.797 §375a]

Source: Section 716.586 — Credit card transactions, 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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