(1) When a savings association wants to establish a new branch facility, or change the location of a branch facility or its principal office, it shall submit to the Director of the Department of Consumer and Business Services an application for approval of the branch or the change. An application shall state the community where the branch or principal office is to be located or relocated and such other information as the director requires to determine if the establishment or change of the branch facility or principal office will serve the public convenience and advantage.
(2) Upon receipt of an application with the proper filing fee the director shall promptly examine and investigate whether the application should be granted. The director shall proceed in accordance with ORS 722.024 (1) to (4) to give notice and to conduct a hearing, if requested. [1975 c.582 §123]
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