Oregon Statutes - Chapter 708A - Regulation of Institutions Generally - Section 708A.165 - Membership in Federal Reserve System; member bank, officers, directors and shareholders subject to duties and liabilities imposed by laws of this state.

(1) Any Oregon commercial bank may subscribe to the capital stock and become a member of a Federal Reserve Bank.

(2) An Oregon commercial bank that is a member of a Federal Reserve Bank is subject to supervision and examination required by the laws of this state. The Federal Reserve Board may also examine such Oregon commercial banks. The authorities of this state having supervisory authority over an Oregon commercial bank may disclose to the Federal Reserve Board, or to examiners appointed by it, all information in reference to the affairs of any Oregon commercial bank that has become, or desires to become, a member of a Federal Reserve Bank.

(3) An Oregon commercial bank that is a member bank and its directors, principal officers and stockholders are subject to all liabilities and duties imposed upon them by the laws of this state. [1997 c.631 §128]

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Last modified: August 7, 2008