(a) Stating that the trust company is closing, dissolving or transferring its trust business or is in process of voluntary or involuntary liquidation.
(b) Requesting that claims, if any, against the deposit made under ORS 709.030 by the trust company with the director be determined.
(2) Notwithstanding the provisions of subsection (1) of this section, if proceedings for the liquidation of the trust company have been commenced in a court located in a county or state other than the county in this state in which the trust company has its principal place of business, the director shall file the verified petition described in subsection (1) of this section in the court where the proceedings have been commenced. [Amended by 1957 c.115 §1; 1973 c.797 §209; 1997 c.631 §221]
Structure 2021 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 709 - Regulation of Trust Business
Section 709.015 - Organization as limited liability company.
Section 709.040 - Securities eligible for deposit.
Section 709.080 - Charges for handling securities; collection procedure.
Section 709.120 - Substitution of deposit securities; income of securities deposited.
Section 709.150 - General powers of trust companies.
Section 709.160 - Solicitation and performance of legal business.
Section 709.170 - Establishment of and investment in common trust funds; rules; accounting.
Section 709.175 - Limitation on investment of trust funds; exceptions.
Section 709.190 - Trust department kept separate; records of securities; retention of records.
Section 709.200 - Acquisition or investment of trust property in own name or name of nominee.
Section 709.220 - Handling of funds awaiting investment or distribution; security for use of funds.
Section 709.280 - Loans to directors, officers, employees or affiliates.
Section 709.300 - Transaction of trust business by national bank.
Section 709.330 - Sale or transfer of assets or liabilities; effect on fiduciary relations.
Section 709.420 - Actions or suits on claims; service of summons; preference on calendar.
Section 709.450 - Sale and disposition of securities to pay expenses, costs and claims.