Oregon Statutes 715.017 – Out-of-state financial holding companies; out-of-state bank holding companies
An out-of-state financial holding company or an out-of-state bank holding company may become the financial holding company or the bank holding company of:
Terms Used In Oregon Statutes 715.017
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(1) An Oregon stock bank or an in-state federal stock bank, by itself or together with any predecessor, only if the Oregon stock bank or in-state federal stock bank has been engaged in the business of banking in this state for a period of not less than three years prior to the date on which the out-of-state financial holding company or the out-of-state bank holding company becomes the financial holding company or the bank holding company of the Oregon stock bank or in-state federal stock bank.
(2) An Oregon stock bank organized under ORS § 707.025 that has merged with or acquired all or substantially all of the assets and liabilities of an Oregon stock bank or in-state federal stock bank, by itself or together with any predecessor, only if the Oregon stock bank or in-state federal stock bank has been engaged in the business of banking in this state for a period of not less than three years prior to the date on which the out-of-state financial holding company or the out-of-state bank holding company becomes the financial holding company or the bank holding company of the Oregon stock bank. [1997 c.631 § 330; 2001 c.377 § 31]