(1) An out-of-state bank may occupy and maintain the out-of-state bank’s initial branches in this state if and only if the out-of-state bank acquires the branches in accordance with ORS chapters 711 and 713.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

(2) An out-of-state bank that is properly occupying and maintaining one or more branches in this state in accordance with ORS chapters 711 and 713 may thereafter open, occupy and maintain one or more additional branches in this state.

(3) An out-of-state bank that acquires branches in accordance with ORS chapters 711 and 713 is entitled to exercise powers and engage in activities at the out-of-state bank’s branches in this state as provided in ORS § 713.010 and applicable federal law. [1997 c.631 § 324; 2015 c.244 § 88g]

[Amended by 1963 c.195 § 11; 1969 c.360 § 1; 1973 c.797 § 328; repealed by 1993 c.255 § 4]