As used in the Bank Act, unless the context requires otherwise:
(1) “Bank” means a company, other than an extranational institution, that accepts deposits insured to any extent by the Bank Insurance Fund under the provisions of the Federal Deposit Insurance Act, as amended, 12 U.S.C. 1811, et seq.
(2) “Bank holding company” means any company that is a bank holding company under the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. 1841, et seq.
(3) “Bank service corporation” means a corporation, all of the capital stock of which is owned by one or more banking institutions or national banks, that is organized to perform services authorized by ORS 708A.145.
(4) “Banking institution” means an Oregon commercial bank, an Oregon trust company or an Oregon savings bank.
(5) “Company” means an entity that is a company under the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. 1841, et seq.
(6) “Extranational institution” means a corporation, unincorporated company, partnership or association of two or more persons organized under the laws of a nation other than the United States, any territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands, that engages directly in a banking business.
(7) “Federal bank” means a national bank or any other bank organized under the laws of the United States.
(8) “Federal savings bank” means a corporation chartered as a federal savings bank under the provisions of 12 U.S.C. 1464.
(9) “Financial holding company” means a company as referred to in section 103 of the federal Gramm-Leach-Bliley Act (P.L. 106-102).
(10) “Financial institution” means insured institutions, extranational institutions, credit unions as defined in ORS 723.006, out-of-state credit unions under ORS 723.042 and federal credit unions.
(11) “In-state federal stock bank” means a federal bank that issues capital stock, the home state of which is Oregon.
(12) “Institution” means an Oregon commercial bank or an Oregon trust company.
(13) “Insured institution” means a company, the deposits of which are insured under the provisions of the Federal Deposit Insurance Act, as amended, 12 U.S.C. 1811, et seq.
(14) “Insured nonstock institution” means an insured institution that does not issue capital stock.
(15) “Insured stock institution” means an insured institution that issues capital stock.
(16) “National bank” means a bank that was organized under the provisions of the National Bank Act, as amended, 12 U.S.C. 21, et seq.
(17) “Non-Oregon institution” means:
(a) An out-of-state state bank engaging in banking business in Oregon;
(b) An out-of-state trust company transacting trust business in Oregon; and
(c) An extranational institution engaging in banking business in Oregon.
(18) “Nonstock bank” means a bank that does not issue capital stock.
(19) “Oregon bank” means an Oregon stock bank or Oregon nonstock bank.
(20) “Oregon commercial bank” means an Oregon stock bank that was chartered under ORS chapter 707 as a bank other than a stock savings bank.
(21) “Oregon nonstock bank” means a state nonstock bank, the home state of which is Oregon.
(22) “Oregon operating institution” means:
(a) A bank that is engaging in banking business in this state;
(b) An extranational institution that is engaging in banking business in this state; or
(c) A trust company that is transacting trust business in this state.
(23) “Oregon savings bank” or “savings bank” means an Oregon stock savings bank or an Oregon nonstock bank.
(24) “Oregon stock bank” means a state stock bank, the home state of which is Oregon.
(25) “Oregon stock savings bank” means an Oregon stock bank that was initially chartered as or was converted to a stock savings bank under the Bank Act.
(26) “Oregon trust company” means a trust company that was organized under the provisions of ORS chapter 707.
(27) “Out-of-state bank” means an out-of-state state bank or an out-of-state federal bank.
(28) “Out-of-state bank holding company” means a bank holding company whose home state is not Oregon, and that is not the bank holding company of an Oregon stock bank or an in-state federal stock bank.
(29) “Out-of-state federal bank” means a federal bank, the home state of which is a state other than Oregon.
(30) “Out-of-state financial holding company” means a financial holding company whose home state is not Oregon, and that is not the financial holding company of an Oregon stock bank or an in-state federal stock bank.
(31) “Out-of-state state bank” means a state bank, the home state of which is a state other than Oregon.
(32) “Out-of-state trust company” means a trust company that was organized under the laws of another state.
(33) “State bank” means a bank that was organized under the laws of a state.
(34) “State nonstock bank” means a nonstock bank that was organized under the laws of a state.
(35) “State stock bank” means a stock bank that was organized under the laws of a state.
(36) “Stock bank” means a bank that issues capital stock.
(37) “Trust company” means any company that is authorized under the provisions of ORS chapter 709 to transact trust business, and includes the trust department of a bank, but does not include a corporation appointed by a United States Bankruptcy Court to serve as a bankruptcy trustee under Title 11, United States Code, when the corporation is acting in its capacity as a bankruptcy trustee. [1997 c.631 §3; 2001 c.377 §29]
Section: Previous 706.005 706.008 706.010 706.015 706.020 706.025 706.030 706.040 706.050 706.060 706.070 706.080 706.090 706.100 706.205 NextLast modified: August 7, 2008