(1) The Director of the Department of Consumer and Business Services shall investigate each application to establish a branch. With respect to applications covering branches to be located outside the State of Oregon, the director shall promptly provide the local bank supervisory agency or regulator with a copy of the application and an opportunity to comment on the application. The director shall not be bound by any such comments.
(2) In determining whether to approve or disapprove an application to establish a branch, the director shall consider such factors as the director deems appropriate, including the likely impact of the branch on the safety and soundness of the banking institution, the adequacy of the capital of the banking institution, the institutionís record of complying with applicable law, and the results of supervisory examinations of the banking institution.
(3) The directorís decision to disapprove an application is subject to appeal in the manner provided in ORS 707.080 for the organization of an institution. [1997 c.631 §316]Section: Previous 714.015 714.020 714.025 714.030 714.035 714.040 714.045 714.049 714.050 714.054 714.055 714.059 714.060 714.064 714.065 Next
Last modified: August 7, 2008