A savings bank may invest the funds mentioned in ORS § 716.410 in investments which do not qualify under any of the provisions of ORS § 716.420 to 716.590, however an investment shall not be made under this section:

lawyer at desk

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

Terms Used In Oregon Statutes 716.590

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

(1) If the amount of the investment exceeds one percent of the assets of the savings bank or 10 percent of the total amount of its guaranty fund, undivided profits and unallocated reserves, whichever is less;

(2) If the aggregate amount of all the investments exceeds or by the making of the investment will exceed five percent of its assets; or

(3) In the equity securities of any one issuer if the aggregate amount invested by the savings bank under this section together with the amount invested in the equity securities of the issuer under any other provision of law exceeds or by the making of the investment will exceed the limitations under subsections (1) and (2) of this section. [1973 c.797 § 375c; 1981 c.192 § 32]

 

  Previous section
Next section  
 Investments and Loans Contents