Statutes, codes, and regulations
Oregon Revised Statutes
Title 53 - FINANCIAL INSTITUTIONSChapter 711 - MERGER; CONVERSION; SHARE EXCHANGE; ACQUISITION; LIQUIDATION; INSOLVENCY
INSOLVENCY; LIQUIDATION BY DIRECTOR
Section 711.490 - Capital stock requirements of institution purchasing assets and assuming liabilities of insolvent institution

ORS § 711.490

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Current through 2024 Regular Session legislation effective June 6, 2024
Section 711.490 - Capital stock requirements of institution purchasing assets and assuming liabilities of insolvent institution

If the assets of an insolvent institution are sold to a new institution and the new institution assumes any or all of the deposit liabilities of the insolvent institution with the approval of the Director of the Department of Consumer and Business Services and the supervising court, the new institution may be organized with a capital stock equal to the capital stock of the insolvent institution without regard to the capital requirements of ORS 707.050.

ORS 711.490

Amended by 1973 c.797 §264