Oregon Revised Statutes Chapter 706 § 706.005 — Definitions for Bank Act

Definitions for Bank Act. As used in the Bank Act: (1)(a) “Access area” means any paved walkway or sidewalk within 50 feet of an automated teller machine or night deposit facility. (b) “Access area” does not include publicly maintained sidewalks or roads. (2) “Access device” means: (a) An access device as defined in Federal Reserve Board Regulation E (12 C.F.R. Part 205) adopted under the Electronic Fund Transfer Act (15 U.S.C. 1693, et seq.); or (b) A key or other mechanism that a financial institution issues to a customer to give the customer access to the financial institution’s or bank’s night deposit facility. (3) “Acquisition transaction” means: (a) A sale and purchase of all or substantially all of a bank’s assets that does not occur in the bank’s ordinary course of business; or (b) The transfer and assumption of all or substantially all of a bank’s liabilities. (4)(a) “Automated teller machine” or “ATM” means any electronic information processing device located in this state that: (A) Accepts or dispenses cash in connection with a credit, deposit or convenience account, provides information and initiates transactions in accordance with the request or instruction of a customer or the customer’s agent; and (B) Is unstaffed except for persons that install the device, provide security or provide periodic servicing, maintenance or repair. (b) “Automated teller machine” or “ATM” does not include a device that is used solely to facilitate check guarantees or check authorizations, or that is used in connection with accepting or dispensing cash on a person to person basis, such as by a store cashier. (5) “Bank Act” means ORS chapters 706 to 716. (6)(a) “Banking business” or “business of banking” means a regular business of receiving or accepting money or the equivalent of money on deposit, whether the deposit is made subject to check or is evidenced by a certificate of deposit, a pass book or other writing or evidence. (b) “Banking business” or “business of banking” does not include: (A) Depositing money or the equivalent of money in escrow or with an agent, pending an investment in real estate or securities for or on account of a principal; (B) The business of a credit union; (C) Accepting deposits in connection with purchasing or leasing property or services; or (D) Accepting deposits through an ATM or night deposit facility. (7) “Banking day” has the meaning given that term in ORS 708A.650. (8) “Branch” means an office or other place, except a principal place of business or an ATM, at which: (a) A bank engages in banking business; or (b) A trust company transacts trust business. (9) “Candlefoot power” means a light intensity of candles on a horizontal plane at 36 inches above ground level and 5 feet in front of the area to be measured. (10) “Capital debentures” means capital notes, capital debentures and any other form of unsecured obligations that an institution or stock savings bank issues to evidence borrowings in which the rights of the lender are subordinate to the rights of the depositors. (11)(a) “Defined parking area” means a portion of any parking area or a single level in a multiple-story parking area that is open for customer parking and is: (A) Contiguous to the access area of an ATM or night deposit facility; (B) Regularly, principally and lawfully used for parking by users of the ATM or night deposit facility while the users conduct transactions during hours of darkness; (C) Owned or leased by the operator of the ATM or night deposit facility or owned or controlled by the party that leases the ATM or night deposit facility site to the operator; and (D) The parking area that the operator of the ATM or night deposit facility designates as the most directly accessible to the ATM or night deposit facility, if the parking area is a single level in a multiple-story parking area. (b) “Defined parking area” does not include any parking area that: (A) Users of an ATM or night deposit facility do not regularly use for parking while conducting transactions during the hours of darkness; or (B) Is physically closed to access or has conspicuous signs that indicate that the parking area is closed. (12) “Department” means the Department of Consumer and Business Services. (13) “Director” means the Director of the Department of Consumer and Business Services. (14) “Document of title” means document of title as defined in ORS 71.2010. (15) “Federal Reserve Act” means the Act of Congress approved December 23, 1913 (38 Stat. 251), as amended. (16) “Federal Reserve Bank” means a Federal Reserve Bank that is created and organized under the authority of the Federal Reserve Act. (17) “Federal Reserve Board” means the Federal Reserve Board created and described in the Federal Reserve Act. (18) “Home state” means: (a) With respect to a state bank, the state under the laws of which the state bank is incorporated or otherwise organized; (b) With r