Section 715.055 - Submission of reports filed with Federal Reserve Board; additional information; rules; penalty for failure to submit.

OR Rev Stat § 715.055 (2019) (N/A)

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(2) The director may call for additional information from a financial holding company or a bank holding company, in a form and format that the director may prescribe by rule or order, if the director considers the additional information necessary in order to obtain full knowledge of the condition of the Oregon stock bank that the financial holding company or the bank holding company controls. The financial holding company or the bank holding company shall submit the additional information to the director within the time period prescribed by the director.

(3) If a financial holding company or a bank holding company fails to submit a report or additional information as required by this section, the financial holding company or the bank holding company shall pay to the director a penalty of up to $1,000 for each day the financial holding company or bank holding company fails to comply. If the financial holding company or the bank holding company delays or refuses to pay the penalty upon demand by the director, the director may maintain an action in the director’s name against the delinquent financial holding company or bank holding company for the recovery of the penalty. [1973 c.797 §341; 1997 c.631 §327; 2001 c.377 §34; 2009 c.541 §36]

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Section 715.045 - Examination of certain financial holding companies or bank holding companies; payment of costs of examination.

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Section 715.075 - Authority of financial holding company or bank holding company to acquire corporation licensed as insurance producer; rules.