Oregon Code § 716.100·Enacted ·Last updated March 01, 2026
Statute Text
Effect
of failure to complete organization; liabilities.
(1) If an Oregon savings bank
fails to complete its organization and receive from the Director of the
Department of Consumer and Business Services a charter within one year after
the date of filing its articles of incorporation, the Oregon savings bank shall
cease to exist and the articles of incorporation are void.
(2) All persons
purporting to act as or on behalf of an Oregon savings bank, knowing there was
no incorporation, are jointly and severally liable for all liabilities created
while so acting. [Amended by 1973 c.797 §356; 1997 c.631 §339]
Plain English Explanation
This Oregon statute addresses Effect
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 716.100
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Effect
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