Oregon Statutes - Chapter 722 - Savings Associations - Section 722.446 - Authority to establish branch facility; approval of director required to change location of branch or principal office; applicability of ORS 722.448 and 722.452.

(1) The board of directors of a savings association may, with the approval of the Director of the Department of Consumer and Business Services, establish a branch facility. An association shall not change the location of a branch facility or the principal office of the association without prior notice to and approval of the director.

(2) Except for the filing fee required under ORS 722.448, ORS 722.448 and 722.452 shall not apply to a change of location of an existing branch facility or principal office when the distance involved is less than one mile, nor shall ORS 722.448 and 722.452 apply to the establishment of a drive-in facility or an automatic teller machine within 500 feet of an existing branch facility or principal office as an adjunct to the branch facility or principal office. [1975 c.582 §122; 1981 c.472 §22]

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Last modified: August 7, 2008