GroundRules
← Search the law
Oregon · Through 2025 Edition

ORS 711.490: Capital stock requirements of institution purchasing assets and assuming liabilities of insolvent institution.

Read at publisher ↗
Where this section sits in the code
  1. 18 - Financial Institutions, Insurance
  2. 53. Financial Institutions
  3. Chapter 711 — Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency

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.

Collected 2026-09-03T23:50:17Z. Source file · JSON

Browse this collection