(1) The Director of the Department of Consumer and Business Services shall examine the condition of an Oregon nonstock bank when the Oregon nonstock bank files with or submits to the director:
(a) A copy of its articles of incorporation, as required by ORS 716.040;
(b) A list of incorporators, showing name, address, sums paid into the guaranty and expense fund, sworn to by the president or cashier;
(c) The sworn statement of an officer that all requirements of law have been complied with; and
(d) A list of the directors and officers elected.
(2) If, upon examination, the director determines that the Oregon nonstock bank has complied with the applicable requirements of ORS 716.028 to 716.070, the director shall issue to the Oregon nonstock bank a charter to do business as an Oregon nonstock bank under this chapter. [Amended by 1973 c.797 §354; 1987 c.216 §6; 1997 c.631 §338]
Section: Previous 716.032 716.036 716.040 716.050 716.055 716.060 716.070 716.080 716.085 716.090 716.100 716.110 716.120 716.130 716.135 NextLast modified: August 7, 2008