Notice to depositor upon change in terms, charges, withdrawal conditions or decrease in interest rate; exception.

  1. Law
  2. Oregon Revised Statutes
  3. Financial Institutions, Insurance
  4. Regulation of Institutions Generally
  5. Notice to depositor upon change in terms, charges, withdrawal conditions or decrease in interest rate; exception.

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(a) In person;

(b) By sending the notice by regular mail to the last address shown in the Oregon commercial bank’s deposit account records; or

(c) By sending the notice electronically in accordance with an agreement the depositor has with the Oregon commercial bank, provided that the Oregon commercial bank complies with all laws and regulations that apply to electronic consumer notices.

(2) The provisions of subsection (1) of this section do not apply to any change in the interest rate payable upon an account as described in ORS 86.245. [1997 c.631 §165; 2015 c.244 §47]


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