Oregon Statutes - Chapter 713 - Out-of-State Banks and Extranational Institutions - Section 713.210 - Withdrawal from state.

(1) An out-of-state state bank or extranational institution that has been issued a certificate of authority to conduct banking business in this state may withdraw from this state by applying to the Director of the Department of Consumer and Business Services to withdraw. An application to withdraw shall set forth:

(a) The name of the out-of-state state bank or extranational institution and the state or country under the laws of which it is organized.

(b) A statement that the out-of-state state bank or extranational institution no longer conducts banking business in this state.

(c) A statement that the out-of-state state bank or extranational institution surrenders its authority to conduct banking business in this state.

(d) A statement that the out-of-state state bank or extranational institution revokes the authority of its registered agent in this state to accept service of process, notice or demand and consents that service of process, notice or demand in any action, suit or proceeding based upon any transaction, event or occurrence which took place in this state prior to the filing of the application to withdraw may thereafter be made on such out-of-state state bank or extranational institution by service thereof on the director.

(e) A mailing address to which the person initiating any proceedings may mail a copy of any process, notice or demand, which has been served on the director, to the out-of-state state bank or extranational institution.

(f) Such additional information as may be necessary or appropriate to enable the director to determine and assess any unpaid fees or charges payable by such out-of-state state bank or extranational institution as prescribed in the Bank Act.

(2) The application for withdrawal may be made on forms prescribed or furnished by the director and shall be signed by the out-of-state state bank or extranational institution by its president or a vice president and by its secretary or an assistant secretary, and verified by one of the officers signing the application or, if the out-of-state state bank or extranational institution is in the hands of a receiver or trustee, shall be signed on behalf of the institution and verified by the receiver or trustee.

(3) An out-of-state state bank or extranational institution that conducted banking business in this state without the authorization provided by this chapter will be subject to service after it has ceased to conduct banking business in this state in the same manner as though it had been authorized to conduct banking business, had later withdrawn and, in connection with such withdrawal, had filed a consent to service in the manner required by subsection (1)(d) of this section. [1989 c.324 §66; 1997 c.631 §301]

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Last modified: August 7, 2008