(1) An out-of-state bank may not conduct banking business in this state unless the Federal Deposit Insurance Corporation insures the out-of-state bank’s insurable deposits and the out-of-state bank has received a certificate of authority to conduct banking business pursuant to ORS § 713.020 and 713.140 to 713.160.

Terms Used In Oregon Statutes 713.016

  • 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) An extranational institution may not conduct banking business in this state unless the extranational institution complies with the requirements of ORS § 713.025. This subsection and ORS § 713.025 do not apply to an extranational institution that has a branch office in this state and was lawfully conducting banking business on December 31, 1966. [1973 c.797 § 309; 1975 c.725 § 10; 1997 c.631 § 286; 2011 c.263 § 3]

 

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