- (1) An Oregon nonstock bank may issue transferable certificates showing the amounts contributed by any incorporator or director to the guaranty or expense funds of the Oregon nonstock bank.
- (2) The certificate shall show that it does not constitute a liability of the Oregon nonstock bank, except as provided in ORS 716.800.
- (3) A certificate shall not be transferred by an incorporator or director without the prior written consent of the Director of the Department of Consumer and Business Services.
[1973 c.797 §381; 1997 c.631 §351]