The shares of stock of an institution or Oregon stock savings bank shall be transferred on the books of the institution or Oregon stock savings bank in such manner as the bylaws may provide and as required in ORS § 707.220. A transfer of stock is not valid while an institution or Oregon stock savings bank is under notice from the Director of the Department of Consumer and Business Services to make good any impairment of its stockholders’ equity, until the impairment has been made good. [Amended by 1973 c.797 § 70; 1997 c.631 § 57]

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[1969 c.635 § 1; 1973 c.797 § 71; 1995 c.130 § 1; repealed by 1997 c.631 § 567]