(1) The corporate name of a banking institution:
(a) Shall not contain any word or phrase that indicates or implies that it is organized for any purpose other than one or more of the purposes contained in its articles of incorporation.
(b) Shall be distinguishable from any other financial institution, corporate, professional corporate, nonprofit corporate, cooperative, limited liability company, limited partnership, business trust, reserved or registered name currently on file with the Secretary of State or Director of the Department of Consumer and Business Services, or an assumed business name registered as provided in ORS 648.010.
(2) The director may refuse to permit the use of any name if the director determines that the name is deceptively similar to the name of a financial institution already lawfully transacting banking business or accepting deposits in this state.
(3) Nothing contained in this section shall preclude a banking institution from transacting business under one or more assumed business names, if the names meet the requirements of subsection (1) of this section, unless the director determines that the names will be confusingly similar to any financial institution, corporate, professional corporate, nonprofit corporate, cooperative, limited liability company, limited partnership, business trust, reserved or registered name currently on file with the Secretary of State or Director of the Department of Consumer and Business Services, or an assumed business name registered as provided in ORS 648.010. [1985 c.762 §36; 1997 c.631 §37]
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