(a) Conducts business in an unsafe or unauthorized manner;

(b) Refuses to submit records for inspection by an examiner or by the Department of Consumer and Business Services; or

(c) Violates a law of this state or the United States or a duly issued order of the director.

(2) If the director believes a condition described in subsection (1) of this section exists, the director may:

(a) Notify the appropriate bank supervisory agency, with respect to the banking institution or non-Oregon institution, of the director’s determination and the facts and circumstances on which the determination is based;

(b) Provide the banking institution or non-Oregon institution with a statement of the charges on the basis of which the director determined that the banking institution or non-Oregon institution is violating the law or conducting business in an unsafe or unauthorized manner;

(c) Notify the banking institution or non-Oregon institution of the date and place of a hearing before the director, or a person designated by the director, with respect to the charges against the banking institution or non-Oregon institution; and

(d) Conduct a hearing pursuant to the notice given to the banking institution or non-Oregon institution under subsection (1)(c) of this section and make findings with respect to each of the charges specified in the notice to the banking institution or non-Oregon institution.

(3) After a hearing conducted under subsection (2) of this section, the director may:

(a) By an order in writing:

(A) Direct the discontinuance of the illegal, unsafe or unauthorized practices; and

(B) Direct the banking institution or non-Oregon institution to take affirmative action to correct or remedy a condition that resulted from the illegal, unsafe or unauthorized practice;

(b) Apply for and obtain an injunction or other appropriate order from a court that has jurisdiction over the matter to enforce the director’s order issued under paragraph (a) of this subsection;

(c) Publish notice of an order the director issued pursuant to paragraph (a) of this subsection; and

(d) Suspend or revoke the authority of a non-Oregon institution to open, occupy or maintain a branch or branches in this state. [Amended by 1973 c.797 §31; 1997 c.631 §10; 2009 c.541 §30a]