Oregon Statutes 716.055 – Creation of guaranty and expense funds
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Before an Oregon nonstock bank may conduct its business, its incorporators shall create:
(1) A guaranty fund, as provided in ORS § 716.060, for the protection of its depositors against loss on its investments, and
(2) An expense fund, as provided in ORS § 716.070, to pay the expense of organizing the Oregon nonstock bank and the operating expenses. [1973 c.797 § 351; 1997 c.631 § 335]