§ 709.300 — Transaction of trust business by national bank

Oregon § 709.300

• Jurisdiction: Oregon
• Vol.: 18
• Title 53: Financial Institutions
• Ch. 709: Regulation of Trust Business

Text

(1) A national bank authorized to conduct a trust business that has complied with the applicable provisions of this chapter may transact trust business in all respects, as provided by applicable laws of the United States and rules and regulations promulgated pursuant thereto. All acts provided in the Bank Act to be performed by the State Treasurer, the Director of the Department of Consumer and Business Services or other public officials for or in respect to trust companies, shall be performed for national banks equally with trust companies.
(2) Every national bank that is authorized to transact trust business and that has qualified by making the deposit of securities required under ORS 709.030, may:
(a) Act or be appointed by any court to act in any fiduciary capacity to the same extent as any trust company;
(b) Use the word “trust” in its corporate name; and
(c) Advertise its authority to act in fiduciary capacities.

Legislative History

Amended by 1963 c.55 §1; 1965 c.170 §1; 1973 c.797 §205; 1997 c.631 §219