(1) The Director of the Department of Consumer and Business Services shall not issue a certificate of authority to an out-of-state state bank or extranational institution if the name of the out-of-state state bank or extranational institution does not conform to ORS 707.075, except as provided in subsection (2) of this section.
(2) If the director determines that the name of the applicant out-of-state state bank or extranational institution is deceptively similar to the name of another financial institution conducting a banking business in this state, the director shall not issue a certificate of authority to the applicant unless the out-of-state state bank or extranational institution states the corporate name on the application for a certificate of authority under ORS 713.140 (1)(a) and in the filings required by ORS 713.140 (3) as “_________ (name under which organized), an institution of ________ (place of organization),” the entirety of which shall be the “real and true name” of the out-of-state state bank or extranational institution under ORS chapter 648.
(3) Nothing contained in this section shall preclude an out-of-state state bank or extranational 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. The name designated under this section shall be accorded the same legal effect under ORS 707.075 and ORS chapters 647 and 648 as the name of an Oregon state bank. Issuance of the certificate of authority shall not abrogate or limit the law as to unfair competition or unfair trade practices or derogate from the common law, the principles of equity or the statutes of this state or of the United States with respect to the right to acquire and protect trade names, trademarks and service marks. [1989 c.324 §58; 1997 c.631 §294]Section: Previous 713.060 713.070 713.080 713.090 713.100 713.110 713.120 713.130 713.140 713.150 713.160 713.170 713.180 713.190 713.200 Next
Last modified: August 7, 2008