Oregon Statutes - Chapter 722 - Savings Associations - Section 722.454 - Discontinuance of branch; revocation of approval by director.

(1) The board of directors of an association, after notice to the Director of the Department of Consumer and Business Services, may discontinue the operation of a branch facility. The association shall keep the director informed in the matter and deliver to the director a certificate of the date operation of the branch facility is discontinued.

(2) The director may for good cause revoke approval of the operation of a branch facility by written notice to the association. The notice shall fix a reasonable time after which the association shall cease to operate the branch facility. [1975 c.582 §125]

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Last modified: August 7, 2008