# ORS § 723.014: 723.014 Denial of certificate of approval

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.014

## Section

- **Citation:** ORS § 723.014
- **Heading:** 723.014 Denial of certificate of approval
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 54 / Chapter 723 / Section 723.014

## Text

The Director of the Department of Consumer and Business Services may not issue a certificate of approval under ORS 723.012 (Organization procedure) if a person named in the articles of incorporation submitted for approval:

(1) Is insolvent or bankrupt;

(2) Has engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession;

(3) Has willfully or repeatedly violated or failed to comply with a provision of the Oregon Bank Act, the Oregon Credit Union Act, the Oregon Consumer Finance Act, the Oregon Securities Law, the Oregon Mortgage Lender Law or the Pawnbrokers Act, or an administrative rule or order adopted under an Act identified in this subsection;

(4) Has been convicted of a crime, an essential element of which is fraud;

(5) Is not qualified to conduct a credit union business on the basis of such factors as training, experience and knowledge of the business;

(6) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the credit union business;

(7) Is the subject of an order of the director subjecting the person to a civil penalty, or removing the person from an office in any entity regulated by the director; or

(8) Is the subject of an order that was issued by the regulatory authority of another state, or of the federal government, with authority over banking institutions, credit unions, consumer finance companies, savings associations, securities firms or mortgage lenders, that was entered within the past five years and that subjects the person to a civil penalty or removes the person from an office in a state banking institution, a national bank, a state or federal credit union, a state or federal savings association or a consumer finance company, or from a position as a securities broker or dealer, a state or federal investment adviser or a mortgage lender. [1977 c.135 §42; 1985 c.762 §86; 1987 c.373 §63a; 1987 c.650 §3; 1999 c.185 §3; 2009 c.541 §38; 2011 c.597 §291]

Source: Section 723.014 — Denial of certificate of approval , https://www.­oregonlegislature.­gov/bills_laws/ors/ors723.­html (accessed May 26, 2025).

## Nearby sections

- [ORS § 723.001 723.001 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.001.md)
- [ORS § 723.002 723.002 Short title](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.002.md)
- [ORS § 723.006 723.006 “Credit union” defined](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.006.md)
- [ORS § 723.008 723.008 “Credit union” defined for ORS 723.136 and 723.464 to 723.498](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.008.md)
- [ORS § 723.012 723.012 Organization procedure](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.012.md)
- [ORS § 723.014 723.014 Denial of certificate of approval](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.014.md)
- [ORS § 723.016 723.016 Form of articles and bylaws](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.016.md)
- [ORS § 723.022 723.022 Amendment of articles and bylaws](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.022.md)
- [ORS § 723.026 723.026 Use of name exclusive](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.026.md)
- [ORS § 723.032 723.032 Places of business](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.032.md)
- [ORS § 723.042 723.042 Interstate credit unions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.042.md)
- [ORS § 723.102 723.102 Rulemaking authority](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.102.md)
- [ORS § 723.106 723.106 Reports](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.106.md)
- [ORS § 723.112 723.112 Examinations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.112.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T54_C723_S723.014. Check the current official text before relying on it. Not legal advice.