Oregon Revised Statutes Chapter 711 § 711.430 — Placing business in control of director; notice
Oregon Revised Statutes Chapter 711 ·
Oregon Code § 711.430·Enacted ·Last updated March 01, 2026
Statute Text
Placing business in control of director; notice.
(1) An institution may place its
property and affairs under the control of the Director of the Department of
Consumer and Business Services to be liquidated by notifying the director of
its proposed action and by posting a notice on its doors as follows: This Bank
(or Trust Company) Is Under the Control of the Department of Consumer and
Business Services.
(2) The posting
of the notice or the taking possession of an institution by the director is
sufficient to place all its property and affairs of whatever nature in the
possession of the director and operates as a bar and dissolution to any
attachment proceedings. [Amended by 1973 c.797 §254; 1975 c.544 §36; 1987 c.373
§54]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 711.430
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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