Oregon Statutes - Chapter 706 - Administration and Enforcement of Banking Laws Generally - Section 706.650 - Delay or failure to furnish reports of condition; penalty.

If an Oregon operating institution delays or fails to furnish reports in the manner required under ORS 706.630, the Oregon operating institution is subject to a penalty of $250 a day for each day while in default. The penalty shall be paid by the Oregon operating institution upon receiving notice or demand for the amount of the penalty from the Director of the Department of Consumer and Business Services. If the penalty is not paid upon demand by the director, the director shall proceed to collect the penalty in the manner prescribed by ORS 706.570 (2). If the director determines that the default was unavoidable, the director may waive the penalty. [Amended by 1973 c.797 §36; 1997 c.631 §14]

Section:  Previous  706.580  706.590  706.600  706.610  706.620  706.630  706.640  706.650  706.655  706.660  706.670  706.680  706.690  706.700  706.710  Next

Last modified: August 7, 2008