Or. Admin. Code § 441-005-0010 - Application For Certificate Of Compliance
(1) To apply for a certificate from the
Director to indicate that use of a requested name or intended activity is in
compliance with the Bank Act and ORS chapters 59, 645, 705, 717, 725 and 726, a
company shall submit:
(a) A letter request to
the Director describing the company's business,
(b) The names, dates of birth and home
addresses of all executive officers, directors and principals of the company,
or persons holding similar positions; and
(c) Supporting documentation evidencing the
company's organization as a financial institution, including but not limited
to:
(A) The company's business plan;
(B) A copy of the charter or comparable
documents from the jurisdiction where the company is organized, if applicable;
and
(C) The articles of
incorporation or proposed articles of incorporation or similar documents of
organization.
(2) Within 10 business days from the receipt
of the written request, the Director will review the request. Upon review, the
Director will either issue a certificate to the Secretary of State and company
authorizing the registration of the name for the company, request additional
information from the company, or send a written denial of the request to the
company.
(3) If the Director
requests additional information from the company, the company shall have 30
days to submit additional information. If the company fails to submit the
additional information within 30 days, the Director may deny the request for
certification.
(4) If the Director
denies a request for certification, the company shall have the right to request
a hearing, which will be conducted pursuant to ORS chapter 183.
(5) In lieu of the requirements under section
1(b) and (c) of this rule, state or federally chartered financial institutions
may comply with section (1)(a) and supporting documentation required under
section 1(c)(B) unless the Director determines after receiving this
documentation that full compliance with section 1(a) through (c) is
required.
Notes
Stat. Auth: ORS 705.635
Stats. Implemented: ORS 705.635
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