{"data":{"id":"us-or/ors-706.580","jurisdiction":"us-or","citation":"ORS 706.580","heading":"Illegal, unauthorized or unsafe practices; authority of director.","body":"(1) The Director of the Department of Consumer and Business Services may take an action described in subsection (2) of this section if a banking institution or non-Oregon institution:\n      (a) Conducts business in an unsafe or unauthorized manner;\n      (b) Refuses to submit records for inspection by an examiner or by the Department of Consumer and Business Services; or\n      (c) Violates a law of this state or the United States or a duly issued order of the director.\n      (2) If the director believes a condition described in subsection (1) of this section exists, the director may:\n      (a) Notify the appropriate bank supervisory agency, with respect to the banking institution or non-Oregon institution, of the director’s determination and the facts and circumstances on which the determination is based;\n      (b) Provide the banking institution or non-Oregon institution with a statement of the charges on the basis of which the director determined that the banking institution or non-Oregon institution is violating the law or conducting business in an unsafe or unauthorized manner;\n      (c) Notify the banking institution or non-Oregon institution of the date and place of a hearing before the director, or a person designated by the director, with respect to the charges against the banking institution or non-Oregon institution; and\n      (d) Conduct a hearing pursuant to the notice given to the banking institution or non-Oregon institution under subsection (1)(c) of this section and make findings with respect to each of the charges specified in the notice to the banking institution or non-Oregon institution.\n      (3) After a hearing conducted under subsection (2) of this section, the director may:\n      (a) By an order in writing:\n      (A) Direct the discontinuance of the illegal, unsafe or unauthorized practices; and\n      (B) Direct the banking institution or non-Oregon institution to take affirmative action to correct or remedy a condition that resulted from the illegal, unsafe or unauthorized practice;\n      (b) Apply for and obtain an injunction or other appropriate order from a court that has jurisdiction over the matter to enforce the director’s order issued under paragraph (a) of this subsection;\n      (c) Publish notice of an order the director issued pursuant to paragraph (a) of this subsection; and\n      (d) Suspend or revoke the authority of a non-Oregon institution to open, occupy or maintain a branch or branches in this state.","path":["18 - Financial Institutions, Insurance","53. Financial Institutions","Chapter 706 — Administration and Enforcement of Banking Laws Generally"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors706.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:17Z","sha256":"7a6651064bc3fe7aa50b569d8c2b1966fec8771fe09591ad0143607fbb6ce0f9","source_id":"us-or","stale":false,"prev":"us-or/ors-706.578","next":"us-or/ors-706.590"},"notice":"GroundRules: Original legal text. Not legal advice."}