Oregon Statutes 708A.580 – Capital-strengthening corporations
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(1) An institution may not carry on the institution’s books, at a value in excess of 20 percent of the institution’s capital, the aggregate amount of stock of or membership interests in a corporation or limited liability company the institution acquired under ORS § 708A.125 for the purpose of strengthening the institution’s capital or eliminating undesirable assets.
Terms Used In Oregon Statutes 708A.580
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
(2) The institution each year shall amortize the book value of the stock or membership interests by not less than five percent of the original book value of the stock or membership interests. [1997 c.631 § 191; 2015 c.244 § 69]