Oregon § 707.170 Effective date of charter; commencement of business; effect of failure to commence business

Oregon Statutes

§ 707.170 — Effective date of charter; commencement of business; effect of failure to commence business

Oregon § 707.170

Vol.18

Title 53Financial Institutions

Ch. 707Organization to Conduct Banking Business; Stockholders, Directors and

This text of Oregon § 707.170 (Effective date of charter; commencement of business; effect of failure to commence business) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 707.170 (2026).

Text

(1)A charter shall specify the date on which it becomes effective, which shall not be more than 90 days after the date of issuance of the charter, unless an extension of time is granted by the Director of the Department of Consumer and Business Services.

(2)A banking institution shall commence business on the effective date specified in its charter. If a banking institution fails to commence business on the effective date specified in the charter or according to any extension of time granted by the director it ceases to exist and its articles of incorporation and charter are void.

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(1) A charter shall specify the date on which it becomes effective, which shall not be more than 90 days after the date of issuance of the charter, unless an extension of time is granted by the Director of the Department of Consumer and Business Services.
(2) A banking institution shall commence business on the effective date specified in its charter. If a banking institution fails to commence business on the effective date specified in the charter or according to any extension of time granted by the director it ceases to exist and its articles of incorporation and charter are void.