Oregon Statutes 707.075 – Banking institution name
(1) The corporate name of a banking institution:
Terms Used In Oregon Statutes 707.075
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) May not contain any word or phrase that indicates or implies that the banking institution is organized for any purpose other than one or more of the purposes contained in the banking institution’s articles of incorporation.
(b) Must be distinguishable from:
(A) The name of any banking institution, insured institution, extranational institution that has complied with the provisions of ORS § 713.020 or 713.300 or credit union, as defined in ORS § 723.008; or
(B) The name of:
(i) Any corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust currently on file with the Secretary of State; or
(ii) Any reserved, registered or assumed business name currently on file with the Secretary of State.
(2) The director may refuse to permit a banking institution to use any name the director determines is not distinguishable from the name of a financial institution that is already lawfully engaging in banking business or making loans in this state.
(3) A banking institution may transact business under one or more assumed business names if the assumed business names meet the requirements of subsection (1) of this section, unless the director determines that the assumed business names are not distinguishable from:
(a) The name of any banking institution, insured institution, extranational institution that has complied with the provisions of ORS § 713.020 or 713.300 or credit union, as defined in ORS § 723.008;
(b) The name of any corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust currently on file with the Secretary of State; or
(c) Any reserved, registered or assumed business name currently on file with the Secretary of State. [1985 c.762 § 36; 1997 c.631 § 37; 2015 c.244 § 17]