(1) If upon examination of a banking institution or non-Oregon institution it appears that the banking institution or non-Oregon institution does not keep books and accounts in such a manner as to enable the Director of the Department of Consumer and Business Services to readily ascertain the true condition of the banking institution or non-Oregon institution, the Director of the Department of Consumer and Business Services may require any officer of the banking institution or non-Oregon institution to open and keep books or accounts as the director prescribes.
(2) If a banking institution or non-Oregon institution fails to open and keep the books and accounts prescribed by the director, the director shall send written notice to the banking institution or non-Oregon institution of intent to assess and collect the penalty under this subsection. For each day the banking institution or non-Oregon institution fails to open and keep the books and accounts after receiving notice from the director, the banking institution or non-Oregon institution is subject to a penalty of $1,000. The penalty shall be paid by the banking institution or non-Oregon institution when it receives a notice and demand for the amount of the penalty from the director. If the banking institution or non-Oregon institution delays or refuses to pay the penalty upon demand, the penalty shall be recovered in the name of the director in an action brought by the Attorney General. All sums collected for penalties imposed by this section shall be paid into the Consumer and Business Services Fund created by ORS 705.145. [Amended by 1973 c.797 §30; 1985 c.762 §31; 1987 c.373 §50; 1997 c.631 §8]
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