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Oregon Revised Statutes

Insolvency; Liquidation by Director

Insolvency; Liquidation by Director

711.400Supervision of liquidation by circuit court; called “supervising court.”711.405When institution deemed insolvent 711.410Transfer of assets after commission of act of insolvency or in contemplation of insolvency; exceptions 711.415Receiving deposits in excess of insurance while insolvent 711.419Taking possession of Oregon stock bank by director 711.430Placing business in control of director; notice 711.435Resumption of business of institution placed in control of director 711.440Receivers and assignments for benefit of creditors; notice to and action by director 711.445Notice of taking possession of institution; prohibition against liens subsequent to insolvency 711.450Prohibition against applying to enjoin director from continuing possession 711.465Transfer of liquidation functions to Federal Deposit Insurance Corporation 711.470Subrogation rights of Federal Deposit Insurance Corporation 711.475Inventory of assets; filing notice of taking possession 711.480Sale of assets 711.485Borrowing funds to pay closed institution expenditures 711.490Capital stock requirements of institution purchasing assets and assuming liabilities of insolvent institution 711.495Action by director to collect balance due on stock or stock assessment 711.500Liability of transferor of stock made in contemplation of insolvency; proceedings to relieve stockholder of liability prohibited 711.505Liability of fiduciary as stockholder; liability of estate and funds 711.510Deposit of money collected under ORS 711.495; security for deposit 711.515“Depositor” defined; preferences among depositors 711.520Priority of claimants against assets of Oregon stock bank that is insolvent or in liquidation 711.525Interest on deposits after Oregon stock bank closes 711.530Notice to creditors to present claims 711.535Verification and filing of claims; demand for preference 711.540Approval or rejection of claims 711.545Objection to approval of claims 711.550Objection to rejection of claims 711.554Procedure for determination of claims 711.560Costs and disbursements in claim proceedings 711.565Claims presented after time expired 711.567Supervising court to bar claims to facilitate closing 711.570Lists of claims 711.572Liability of directors for distributing assets without payment of known debts 711.575Dividends to depositors 711.577Death of depositor; payment of claim 711.580Safety deposit boxes; removal of property 711.582Disposition of contents of safety deposit boxes 711.585Selection of agents to wind up affairs of institution; bond or letter of credit; duties of agent 711.590Disposition of unclaimed deposits; interest 711.595Destruction of liquidation records in possession of director 711.600Liquidation expenses 711.605Petitions relating to insolvent institutions; ruling by director; court review 711.615Court filing fees 711.620Suspending or restricting payment of liabilities; duration 711.625Taking possession of Oregon stock bank by director; powers of director; expenses 711.630Pro rata withdrawals by depositors 711.635Receiving new deposits; segregation 711.640Termination of suspension or restriction on payment of liabilities 711.645Notice of termination of suspension or restriction on payment of liabilities 711.650Segregation of deposits until termination notice has been given 711.655Use of suspended deposits to pay indebtedness of depositor 711.660Assignment or transfer of capital stock while payment of liabilities suspended or restricted 711.665Suspension or restriction of liability payment not evidence of insolvency 711.670Compliance with ORS 711.620 to 711.670 as defense to depositor’s action