An institution is insolvent if any of the following occurs:
- (1) The fair market value of the institution’s assets is insufficient to pay the institution’s liabilities, excluding any liability on account of capital debentures.
- (2) An Oregon stock bank fails to make good the Oregon stock bank’s reserve requirements under applicable law for a period of 30 days.
- (3) The institution cannot meet the institution’s obligations or demands upon the institution as the obligations or demands become due.
[Amended by 1973 c.797 §251; 1975 c.544 §35; 1997 c.631 §242; 2015 c.244 §83]