Chapter707 — Organization to Conduct Banking Business; Stockholders, Directors andOfficers
2009 EDITION
ORGANIZATIONTO CONDUCT BANKING BUSINESS
FINANCIALINSTITUTIONS
ORGANIZATIONTO CONDUCT BANKING BUSINESS
(Generally)
707.005 Organizationrequired to engage in banking or trust business
707.007 Organizationof Oregon bank as limited liability company
707.010 Certificaterequired to transact banking business
707.020 Violationof ORS 707.005 or 707.010; investigation; injunction
707.025 Organizationof banking institution for purpose of merging with, acquiring assets of orassuming liabilities of financial institution; procedure; conditions
707.035 Conversionof trust company to Oregon bank
707.050 Initialpaid-in capital requirement
707.070 Applicationfor authority to organize banking institution; fee; contents
707.075 Bankinginstitution name
707.080 Investigationand ruling on application; conditional approval; appeal
707.090 Refusalto file articles of incorporation or grant charter after approval ofapplication
707.100 Timefor submitting articles of incorporation
707.110 Executionand submission of articles of incorporation; contents
707.120 Issuanceof certificate of incorporation when filings conform to law
707.140 Submissionof organization information; issuance of charter
707.160 Transactionof business prior to organization; failure to complete organization; liability
707.170 Effectivedate of charter; commencement of business; effect of failure to commencebusiness
707.180 Locationof principal place of business; change upon approval
707.182 Registeredagent; registered office
707.184 Changesin registered office or agent
707.186 Resignationof registered agent; discontinuance of registered office
707.188 Serviceof process on institution or Oregon stock savings bank
707.195 Offeringdocuments for sale of stock; approval by director
707.200 Paymentsby subscribers of full amount of stock subscriptions; escrow
707.210 Stockissuance after obtaining charter; form of stock certificate; issuance of stockwithout certificate
707.220 Stockrecord; contents; inspection
707.230 Transferof stock
707.242 Bylaws
(Amendmentof Articles of Incorporation)
707.244 Amendmentof articles of incorporation; purposes for amendment
707.246 Mannerof amending articles of incorporation
707.248 Shareholdersauthorized to vote on amendment to articles of incorporation
707.250 Executionof amendments to articles of incorporation
707.252 Filingof amended articles of incorporation
707.254 Effectivedate of amended articles of incorporation; effect on existing cause of action
707.256 Restatedarticles of incorporation
(Shares)
707.258 Termsof class of shares or series within class determined by board of directors
707.260 Fractionalshares; scrip
707.262 Shareoptions; limits on issuance
707.266 Expensesof organization or issue of shares
707.268 Restrictionson redemption of shares
707.270 Effectof redemption of shares; statement of cancellation
707.272 Paid-incapital; use; retained earnings reserve; approval of director for redemption ofshares; rules
707.350 Paymentprior to issuance of certificate of stock; consideration; approvals
707.380 Limitationon dividends
707.400 Suspensionof payment of dividends
707.410 Recordof dividends declared
707.415 Reportof dividends declared
STOCKHOLDERS,DIRECTORS AND OFFICERS
(StockholderMeetings)
707.610 Annualand special stockholder meetings; notice of orders
707.611 Noticeof meeting
707.612 Actionwithout meeting
707.613 Shareholderwaiver of notice; effect of attendance at meeting
707.615 Recorddate
707.617 Shareholderslist for meeting
707.619 Votingentitlement of shares
707.620 Specialstockholder meeting called by director
707.621 Quorum
707.623 Modificationof quorum or voting requirements
707.625 Exemptionfrom personal liability for good faith acts or omissions in compliance withstatute, rule or order
(Directorsand Officers)
707.642 Organizationalmeeting of directors; notice
707.644 Committeesof board of directors; limitations
707.646 Staggeredterms for directors
707.648 Removalof directors by shareholders
707.660 Generalstandards for directors
707.665 Generalstandards for officers
707.670 Regularmeetings of directors; quorum; notice; meetings using communications equipment
707.675 Reportof loans and investments
707.680 Specialboard meetings called by director; penalty for failure to attend
707.690 Fillingdirector vacancy
707.700 Selectionand control of officers by directors; effect of removal of officers
707.705 Investigationof new director, president and chief executive officer; fingerprinting;disapproval of election or appointment
707.710 Removalof officer or director
707.720 Violationof law or omission of duty by officer or director
707.730 Officialcommunications from Department of Consumer and Business Services; submission todirectors
707.735 Officersand directors to notify law enforcement officers of certain criminalviolations; investigations; costs
707.740 Examiningor audit committee; duties
(Indemnificationof Directors, Officers, Employees and Agents)
707.744 Definitionsfor ORS 707.744 to 707.764
707.746 Authorityto indemnify directors
707.748 Mandatoryindemnification
707.752 Advancefor expenses
707.754 Court-orderedindemnification
707.756 Determinationand authorization of indemnification
707.758 Indemnificationof officers, employees and agents
707.762 Insurance
707.764 Applicationof ORS 707.744 to 707.762
ORGANIZATIONTO CONDUCT BANKING BUSINESS
(Generally)
707.005Organization required to engage in banking or trust business. It is unlawfulfor any person to engage in or transact a banking or trust business within thisstate except by means of an entity duly organized for the purpose. [1973 c.797 §50;1997 c.631 §29]
Chapter707 — Organization to Conduct Banking Business; Stockholders, Directors andOfficers
2009 EDITION
ORGANIZATIONTO CONDUCT BANKING BUSINESS
FINANCIALINSTITUTIONS
ORGANIZATIONTO CONDUCT BANKING BUSINESS
(Generally)
707.005 Organizationrequired to engage in banking or trust business
707.007 Organizationof Oregon bank as limited liability company
707.010 Certificaterequired to transact banking business
707.020 Violationof ORS 707.005 or 707.010; investigation; injunction
707.025 Organizationof banking institution for purpose of merging with, acquiring assets of orassuming liabilities of financial institution; procedure; conditions
707.035 Conversionof trust company to Oregon bank
707.050 Initialpaid-in capital requirement
707.070 Applicationfor authority to organize banking institution; fee; contents
707.075 Bankinginstitution name
707.080 Investigationand ruling on application; conditional approval; appeal
707.090 Refusalto file articles of incorporation or grant charter after approval ofapplication
707.100 Timefor submitting articles of incorporation
707.110 Executionand submission of articles of incorporation; contents
707.120 Issuanceof certificate of incorporation when filings conform to law
707.140 Submissionof organization information; issuance of charter
707.160 Transactionof business prior to organization; failure to complete organization; liability
707.170 Effectivedate of charter; commencement of business; effect of failure to commencebusiness
707.180 Locationof principal place of business; change upon approval
707.182 Registeredagent; registered office
707.184 Changesin registered office or agent
707.186 Resignationof registered agent; discontinuance of registered office
707.188 Serviceof process on institution or Oregon stock savings bank
707.195 Offeringdocuments for sale of stock; approval by director
707.200 Paymentsby subscribers of full amount of stock subscriptions; escrow
707.210 Stockissuance after obtaining charter; form of stock certificate; issuance of stockwithout certificate
707.220 Stockrecord; contents; inspection
707.230 Transferof stock
707.242 Bylaws
(Amendmentof Articles of Incorporation)
707.244 Amendmentof articles of incorporation; purposes for amendment
707.246 Mannerof amending articles of incorporation
707.248 Shareholdersauthorized to vote on amendment to articles of incorporation
707.250 Executionof amendments to articles of incorporation
707.252 Filingof amended articles of incorporation
707.254 Effectivedate of amended articles of incorporation; effect on existing cause of action
707.256 Restatedarticles of incorporation
(Shares)
707.258 Termsof class of shares or series within class determined by board of directors
707.260 Fractionalshares; scrip
707.262 Shareoptions; limits on issuance
707.266 Expensesof organization or issue of shares
707.268 Restrictionson redemption of shares
707.270 Effectof redemption of shares; statement of cancellation
707.272 Paid-incapital; use; retained earnings reserve; approval of director for redemption ofshares; rules
707.350 Paymentprior to issuance of certificate of stock; consideration; approvals
707.380 Limitationon dividends
707.400 Suspensionof payment of dividends
707.410 Recordof dividends declared
707.415 Reportof dividends declared
STOCKHOLDERS,DIRECTORS AND OFFICERS
(StockholderMeetings)
707.610 Annualand special stockholder meetings; notice of orders
707.611 Noticeof meeting
707.612 Actionwithout meeting
707.613 Shareholderwaiver of notice; effect of attendance at meeting
707.615 Recorddate
707.617 Shareholderslist for meeting
707.619 Votingentitlement of shares
707.620 Specialstockholder meeting called by director
707.621 Quorum
707.623 Modificationof quorum or voting requirements
707.625 Exemptionfrom personal liability for good faith acts or omissions in compliance withstatute, rule or order
(Directorsand Officers)
707.642 Organizationalmeeting of directors; notice
707.644 Committeesof board of directors; limitations
707.646 Staggeredterms for directors
707.648 Removalof directors by shareholders
707.660 Generalstandards for directors
707.665 Generalstandards for officers
707.670 Regularmeetings of directors; quorum; notice; meetings using communications equipment
707.675 Reportof loans and investments
707.680 Specialboard meetings called by director; penalty for failure to attend
707.690 Fillingdirector vacancy
707.700 Selectionand control of officers by directors; effect of removal of officers
707.705 Investigationof new director, president and chief executive officer; fingerprinting;disapproval of election or appointment
707.710 Removalof officer or director
707.720 Violationof law or omission of duty by officer or director
707.730 Officialcommunications from Department of Consumer and Business Services; submission todirectors
707.735 Officersand directors to notify law enforcement officers of certain criminalviolations; investigations; costs
707.740 Examiningor audit committee; duties
(Indemnificationof Directors, Officers, Employees and Agents)
707.744 Definitionsfor ORS 707.744 to 707.764
707.746 Authorityto indemnify directors
707.748 Mandatoryindemnification
707.752 Advancefor expenses
707.754 Court-orderedindemnification
707.756 Determinationand authorization of indemnification
707.758 Indemnificationof officers, employees and agents
707.762 Insurance
707.764 Applicationof ORS 707.744 to 707.762
ORGANIZATIONTO CONDUCT BANKING BUSINESS
(Generally)
707.005Organization required to engage in banking or trust business. It is unlawfulfor any person to engage in or transact a banking or trust business within thisstate except by means of an entity duly organized for the purpose. [1973 c.797 §50;1997 c.631 §29]
{"@context":"https://schema.org","@graph":[{"@type":"WebPage","@id":"https://statutes.laws.com/test/","url":"https://statutes.laws.com/test/","name":"State Codes and Statutes - Statutes","isPartOf":{"@id":"https://statutes.laws.com/#website"},"datePublished":"2015-03-10T03:31:37+00:00","dateModified":"2019-12-27T23:25:16+00:00","breadcrumb":{"@id":"https://statutes.laws.com/test/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https://statutes.laws.com/test/"]}]},{"@type":"BreadcrumbList","@id":"https://statutes.laws.com/test/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://statutes.laws.com/"},{"@type":"ListItem","position":2,"name":"State Codes and Statutes"}]},{"@type":"WebSite","@id":"https://statutes.laws.com/#website","url":"https://statutes.laws.com/","name":"Statutes","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://statutes.laws.com/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"}]}
Chapter707 — Organization to Conduct Banking Business; Stockholders, Directors andOfficers
2009 EDITION
ORGANIZATIONTO CONDUCT BANKING BUSINESS
FINANCIALINSTITUTIONS
ORGANIZATIONTO CONDUCT BANKING BUSINESS
(Generally)
707.005 Organizationrequired to engage in banking or trust business
707.007 Organizationof Oregon bank as limited liability company
707.010 Certificaterequired to transact banking business
707.020 Violationof ORS 707.005 or 707.010; investigation; injunction
707.025 Organizationof banking institution for purpose of merging with, acquiring assets of orassuming liabilities of financial institution; procedure; conditions
707.035 Conversionof trust company to Oregon bank
707.050 Initialpaid-in capital requirement
707.070 Applicationfor authority to organize banking institution; fee; contents
707.075 Bankinginstitution name
707.080 Investigationand ruling on application; conditional approval; appeal
707.090 Refusalto file articles of incorporation or grant charter after approval ofapplication
707.100 Timefor submitting articles of incorporation
707.110 Executionand submission of articles of incorporation; contents
707.120 Issuanceof certificate of incorporation when filings conform to law
707.140 Submissionof organization information; issuance of charter
707.160 Transactionof business prior to organization; failure to complete organization; liability
707.170 Effectivedate of charter; commencement of business; effect of failure to commencebusiness
707.180 Locationof principal place of business; change upon approval
707.182 Registeredagent; registered office
707.184 Changesin registered office or agent
707.186 Resignationof registered agent; discontinuance of registered office
707.188 Serviceof process on institution or Oregon stock savings bank
707.195 Offeringdocuments for sale of stock; approval by director
707.200 Paymentsby subscribers of full amount of stock subscriptions; escrow
707.210 Stockissuance after obtaining charter; form of stock certificate; issuance of stockwithout certificate
707.220 Stockrecord; contents; inspection
707.230 Transferof stock
707.242 Bylaws
(Amendmentof Articles of Incorporation)
707.244 Amendmentof articles of incorporation; purposes for amendment
707.246 Mannerof amending articles of incorporation
707.248 Shareholdersauthorized to vote on amendment to articles of incorporation
707.250 Executionof amendments to articles of incorporation
707.252 Filingof amended articles of incorporation
707.254 Effectivedate of amended articles of incorporation; effect on existing cause of action
707.256 Restatedarticles of incorporation
(Shares)
707.258 Termsof class of shares or series within class determined by board of directors
707.260 Fractionalshares; scrip
707.262 Shareoptions; limits on issuance
707.266 Expensesof organization or issue of shares
707.268 Restrictionson redemption of shares
707.270 Effectof redemption of shares; statement of cancellation
707.272 Paid-incapital; use; retained earnings reserve; approval of director for redemption ofshares; rules
707.350 Paymentprior to issuance of certificate of stock; consideration; approvals
707.380 Limitationon dividends
707.400 Suspensionof payment of dividends
707.410 Recordof dividends declared
707.415 Reportof dividends declared
STOCKHOLDERS,DIRECTORS AND OFFICERS
(StockholderMeetings)
707.610 Annualand special stockholder meetings; notice of orders
707.611 Noticeof meeting
707.612 Actionwithout meeting
707.613 Shareholderwaiver of notice; effect of attendance at meeting
707.615 Recorddate
707.617 Shareholderslist for meeting
707.619 Votingentitlement of shares
707.620 Specialstockholder meeting called by director
707.621 Quorum
707.623 Modificationof quorum or voting requirements
707.625 Exemptionfrom personal liability for good faith acts or omissions in compliance withstatute, rule or order
(Directorsand Officers)
707.642 Organizationalmeeting of directors; notice
707.644 Committeesof board of directors; limitations
707.646 Staggeredterms for directors
707.648 Removalof directors by shareholders
707.660 Generalstandards for directors
707.665 Generalstandards for officers
707.670 Regularmeetings of directors; quorum; notice; meetings using communications equipment
707.675 Reportof loans and investments
707.680 Specialboard meetings called by director; penalty for failure to attend
707.690 Fillingdirector vacancy
707.700 Selectionand control of officers by directors; effect of removal of officers
707.705 Investigationof new director, president and chief executive officer; fingerprinting;disapproval of election or appointment
707.710 Removalof officer or director
707.720 Violationof law or omission of duty by officer or director
707.730 Officialcommunications from Department of Consumer and Business Services; submission todirectors
707.735 Officersand directors to notify law enforcement officers of certain criminalviolations; investigations; costs
707.740 Examiningor audit committee; duties
(Indemnificationof Directors, Officers, Employees and Agents)
707.744 Definitionsfor ORS 707.744 to 707.764
707.746 Authorityto indemnify directors
707.748 Mandatoryindemnification
707.752 Advancefor expenses
707.754 Court-orderedindemnification
707.756 Determinationand authorization of indemnification
707.758 Indemnificationof officers, employees and agents
707.762 Insurance
707.764 Applicationof ORS 707.744 to 707.762
ORGANIZATIONTO CONDUCT BANKING BUSINESS
(Generally)
707.005Organization required to engage in banking or trust business. It is unlawfulfor any person to engage in or transact a banking or trust business within thisstate except by means of an entity duly organized for the purpose. [1973 c.797 §50;1997 c.631 §29]
