Oregon § 716.626 Certificates indicating contribution to guaranty or expense funds

Oregon Statutes

§ 716.626 — Certificates indicating contribution to guaranty or expense funds

Oregon § 716.626

Vol.18

Title 53Financial Institutions

Ch. 716Savings Banks

This text of Oregon § 716.626 (Certificates indicating contribution to guaranty or expense funds) 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. § 716.626 (2026).

Text

(1)An Oregon nonstock bank may issue transferable certificates showing the amounts contributed by any incorporator or director to the guaranty or expense funds of the Oregon nonstock bank.

(2)The certificate shall show that it does not constitute a liability of the Oregon nonstock bank, except as provided in ORS 716.800.

(3)A certificate shall not be transferred by an incorporator or director without the prior written consent of the Director of the Department of Consumer and Business Services.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) An Oregon nonstock bank may issue transferable certificates showing the amounts contributed by any incorporator or director to the guaranty or expense funds of the Oregon nonstock bank.
(2) The certificate shall show that it does not constitute a liability of the Oregon nonstock bank, except as provided in ORS 716.800.
(3) A certificate shall not be transferred by an incorporator or director without the prior written consent of the Director of the Department of Consumer and Business Services.