Oregon § 716.905 Notice of intention to close; disposition of unclaimed deposits

Oregon Statutes

§ 716.905 — Notice of intention to close; disposition of unclaimed deposits

Oregon § 716.905

Vol.18

Title 53Financial Institutions

Ch. 716Savings Banks

This text of Oregon § 716.905 (Notice of intention to close; disposition of unclaimed deposits) 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. § 716.905 (2026).

Text

(1)Upon approval of a plan under ORS 716.900, the directors shall mail written notice of their intention to close the Oregon nonstock bank to the last-known address of all depositors and other creditors.

(2)All deposits and amounts reserved for creditors that remain unclaimed after six months from the date of the written notice required under subsection (1) of this section shall be reported and transferred by the directors to the State Treasurer as unclaimed property under ORS 98.352.

(3)A copy of the report of unclaimed deposits and amounts reserved for creditors filed with the State Treasurer shall be filed with the Director of the Department of Consumer and Business Services.

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(1) Upon approval of a plan under ORS 716.900, the directors shall mail written notice of their intention to close the Oregon nonstock bank to the last-known address of all depositors and other creditors.
(2) All deposits and amounts reserved for creditors that remain unclaimed after six months from the date of the written notice required under subsection (1) of this section shall be reported and transferred by the directors to the State Treasurer as unclaimed property under ORS 98.352.
(3) A copy of the report of unclaimed deposits and amounts reserved for creditors filed with the State Treasurer shall be filed with the Director of the Department of Consumer and Business Services.