Oregon Statutes - Chapter 722 - Savings Associations - Section 722.442 - Right of access to books and records of association; authority to issue subpoenas, administer oaths and examine witnesses.

(1) Except as provided by ORS 40.225 to 40.295, the Director of the Department of Consumer and Business Services and any of the examiners, auditors and appraisers of the Department of Consumer and Business Services:

(a) Shall have free access to all books and records of an association, its subsidiaries and affiliates, that relate to its business, and the books and records kept by any officer, agent or employee, relating to or upon which any record of its business is kept;

(b) May subpoena witnesses and administer oaths or affirmations in the examination of any director, officer, agent or employee of an association, its subsidiaries or affiliates or of any other person in relation to its affairs, transactions and conditions; and

(c) May require the production of records, books, papers, contracts and other documents.

(2) Each witness who appears before the director under a subpoena shall receive the fees and mileage provided for witnesses in ORS 44.415 (2).

(3) If a person fails to comply with a subpoena so issued or a party or witness refuses to testify on any matters, the judge of the circuit court for any county, on the application of the director, shall compel obedience by proceedings for contempt as in the case of disobedience of the requirements of a subpoena issued from such court or a refusal to testify in such court. [1975 c.582 §120; 1981 c.892 §97; 1985 c.762 §69; 1989 c.980 §20]

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Last modified: August 7, 2008