§ 706.560 — Appraisal of securities and audit

Oregon § 706.560

• Jurisdiction: Oregon
• Vol.: 18
• Title 53: Financial Institutions
• Ch. 706: Administration and Enforcement of Banking Laws Generally

Text

(1) When a banking institution or a non-Oregon institution has been examined by an examiner and the examiner finds securities that are of doubtful value, the examiner shall report the same to the Director of the Department of Consumer and Business Services, who may, at the expense of the banking institution or non-Oregon institution, investigate and appraise the securities.
(2) The director may, in the discretion of the director or whenever requested to do so by a banking institution or non-Oregon institution, make an audit of the affairs of the banking institution or non-Oregon institution. The Department of Consumer and Business Services shall be reimbursed by the banking institution or non-Oregon institution for all costs incurred by the department in conducting the audit.

Legislative History

Amended by 1973 c.797 §29; 1997 c.631 §7