Statutes, codes, and regulations
Oregon Revised Statutes
Title 53 - FINANCIAL INSTITUTIONSChapter 711 - MERGER; CONVERSION; SHARE EXCHANGE; ACQUISITION; LIQUIDATION; INSOLVENCY
VOLUNTARY LIQUIDATION; DISSOLUTION
Section 711.215 - Voluntary liquidation on approval of stockholders and director; costs of special examination

ORS § 711.215

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Current through 2024 Regular Session legislation
Section 711.215 - Voluntary liquidation on approval of stockholders and director; costs of special examination

An institution may go into voluntary liquidation by vote of its stockholders owning at least two-thirds of its capital stock. The institution shall first obtain the written consent of the Director of the Department of Consumer and Business Services. Before consenting to the liquidation, the director may require a special examination of the condition and affairs of the institution. The institution shall pay the actual costs of the examination as provided in ORS 706.544.

ORS 711.215

Amended by 1973 c.797 §238; 1985 c.762 §43; 1985 c.786 §40; 1999 c.59 §220