ORS Chapter 708a - Oregon Statutes

Chapter 708A — Regulationof Institutions Generally

 

2009 EDITION

 

 

REGULATIONOF INSTITUTIONS GENERALLY

 

FINANCIALINSTITUTIONS

 

POWERSOF INSTITUTIONS

 

708A.005  Powersof institutions; insurance transactions; rules

 

708A.010  Investmentsand activities of Oregon commercial banks

 

708A.115  Investmentin government obligations

 

708A.120  Investmentin stock of other corporations; rules

 

708A.125  Stockin corporations acquired to strengthen capital or eliminate undesirable assets

 

708A.130  Definitionfor ORS 708A.135 to 708A.145

 

708A.135  Investmentin bank service corporation

 

708A.140  Discriminationby bank service corporation prohibited against nonstockholding depositoryinstitution; permitted conduct

 

708A.145  Authorizedservices of bank service corporations; sale of insurance; regulation ofservices

 

708A.150  Communitydevelopment corporations; authority to invest or organize; conditions;corporate form; functions

 

708A.155  Investmentin foreign banks

 

708A.160  Corporationcreated to establish ATMs; banking institution as stockholder

 

708A.165  Membershipin Federal Reserve System; member bank, officers, directors and shareholderssubject to duties and liabilities imposed by laws of this state

 

708A.170  Securitiespowers

 

708A.175  Rightto purchase, hold and dispose of real and personal property

 

708A.180  Acquisitionof personal property for leasing purposes

 

708A.185  Purchaseof real estate contracts

 

708A.190  Acceptanceof drafts and bills of exchange; issuance of letters of credit; obligation forparticipation share in bills; rules

 

708A.195  Dispositionof real and personal property

 

708A.210  Challengeto validity of institution action; prohibition; exceptions

 

LOANSGENERALLY

 

708A.250  Lendingmoney

 

708A.255  Interestrates on loans or uses of money; late charges

 

708A.260  Acceptingown stock as collateral

 

708A.265  Acceptingstock of other institutions as collateral

708A.270  Realestate loans

 

708A.275  Establishmentof loan production office; notice; fee

 

LOANAND OTHER OBLIGATION LIMITS

 

708A.290  “Capital”defined for ORS 708A.290 to 708A.375

 

708A.295  Limitationson amount of obligations to Oregon commercial bank; applicability

 

708A.300  Obligationssecured by readily marketable collateral

 

708A.305  Obligationsof other financial institutions

 

708A.310  Obligationsof indorser of discounted commercial paper

 

708A.315  Noncommercialshort-term notes

 

708A.320  Obligationssecured by shipping documents

 

708A.325  Installmentconsumer paper

 

708A.330  Bankers’acceptances of other financial institutions

 

708A.335  Obligationssecured by documents covering readily marketable staples

 

708A.340  Obligationssecured by documents covering livestock

 

708A.345  Obligationssecured by government obligations or shares of mutual fund or unit trust

 

708A.350  Obligationssecured by government bonds

 

708A.355  Insuredand guaranteed obligations

 

708A.360  Obligationssecured by deposits

 

708A.365  Obligationssecured by life insurance policy values

 

708A.370  Obligationssecured by first lien on real estate

 

708A.375  Obligationsof guarantors

 

DEPOSITS

 

708A.400  Depositaccounts

 

708A.405  Deposits;FDIC insurance required

 

708A.410  Savingsaccounts; conditions for withdrawal; interest rate

 

708A.415  Securingdeposits by surety bond, letter of credit or insurance

 

708A.420  Noticeto depositor upon change in terms, charges, withdrawal conditions or decreasein interest rate; exception

 

708A.425  Depositmade in name of minor

 

708A.430  Dispositionof deposit on death of depositor

 

708A.435  Adverseclaim to deposit; notice; restraining order or other process; indemnity bond orletter of credit

 

708A.440  Checksdrawn by agents presumed to be in authorized manner

 

708A.445  Checksof intoxicated or drugged persons

 

708A.450  Certifiedchecks

 

708A.455  Definitionsfor ORS 708A.455 to 708A.515

 

708A.460  Applicationof ORS 708A.465 to 708A.475; liability and setoff rights of financialinstitutions

 

708A.465  Ownershipof multiple-party accounts

 

708A.470  Multiple-partyaccounts; disposition of deposit upon death of party or trustee; effect of will

 

708A.475  Rightof survivorship based on form of account; alteration of form of account

 

708A.480  Transferof moneys upon death of depositor or trustee is not testamentary disposition

 

708A.485  Paymentof deposit in multiple-party account to one or more parties; institution notrequired to determine source or use of funds in account

 

708A.490  Jointaccount; payment to any party to account; payment to others

 

708A.495  P.O.D.account; payment to any original party; payment to others

 

708A.500  Trustaccount; payment to any trustee; payment to others

 

708A.505  Dischargeof institution from liability for payments made; conditions

 

708A.510  Rightof institution to setoff; amount

 

708A.515  Designationof agent for account; powers of agent

 

GRANTINGSECURITY INTERESTS IN INSTITUTION ASSETS

 

708A.535  Grantingsecurity interests in institution assets

 

REGULATORYACCOUNTING

 

708A.555  Generallyaccepted accounting principles

 

708A.560  Realand personal property used in institution’s business

 

708A.565  Certainstock

 

708A.570  Communitydevelopment corporations

 

708A.575  Market-makingcorporations

 

708A.580  Capital-strengtheningcorporations

 

708A.585  Claimsand judgments as assets

 

708A.590  Chargingoff real estate assets

 

708A.595  Chargingoff personal property assets

 

708A.600  Chargingoff bad debts

 

708A.605  Separateaccounts for foreign branches

 

MISCELLANEOUSPROVISIONS

 

708A.630  Negligent,excessive, dishonest or unlawful loans; civil liability of officer, director oremployee

 

708A.635  Writtenpolicies regarding reporting to and obtaining approval of board; duty to report

 

708A.640  Receivingillegal compensation; misapplication of property and credit

 

708A.645  Illegalguaranty or indorsement

 

708A.650  Bankingdays; holidays

 

708A.655  Proceduresfor opening safe deposit box after death of person who was sole lessee or lastsurviving lessee of box

 

PENALTIES

 

708A.990  Civilpenalties

 

708A.995  Criminalpenalties

 

POWERSOF INSTITUTIONS

 

      708A.005Powers of institutions; insurance transactions; rules. (1) Except asotherwise limited in the Bank Act or the articles of incorporation of aninstitution, an institution shall have:

      (a)Perpetual duration and succession in its corporate name, unless a limitedperiod of duration is stated in its articles of incorporation;

      (b)The power to do all things necessary or convenient to carry out its businessand affairs including, without limitation, the power to: