A savings bank may invest the funds mentioned in ORS § 716.410 in the bonds, notes and debentures of any corporation incorporated under the laws of and operating in any state of the United States, which are rated at the time of purchase under authority of this section in one of the four highest grades by a recognized service organization that has been regularly engaged for a period of 10 years or more in rating or grading bonds. However, not more than one percent of the assets of the savings bank shall be invested in bonds, notes and debentures of any one corporation, and not more than 20 percent of the assets shall be invested under this section. [Amended by 1969 c.211 § 4; 1971 c.219 § 5; 1973 c.797 § 377; 1977 c.135 § 34; 1981 c.192 § 29]

Terms Used In Oregon Statutes 716.530

  • 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.
  • United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100

 

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