76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 1768
 
                         House Bill 2263
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of former Representative Chuck
  Riley)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Creates Task Force on Establishing State Bank of Oregon.
Directs task force to undertake studies and make recommendations
on establishing state bank for Oregon that is modeled on Bank of
North Dakota.
  Sunsets task force on date of convening of 2013 session.
  Declares emergency, effective on passage.
 
                        A BILL FOR AN ACT
Relating to a task force on establishing a state bank; and
  declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) The Task Force on Establishing the State
Bank of Oregon is established, consisting of nine members
appointed as follows:
  (a) The President of the Senate shall appoint one member from
among members of the Senate.
  (b) The Speaker of the House of Representatives shall appoint
one member from among members of the House of Representatives.
  (c) The Governor shall appoint two members from the general
public who have experience in banking and financial management.
  (d) The Secretary of State shall appoint one member who has
experience in banking and financial management.
  (e) The State Treasurer shall appoint three members who have
experience in banking and financial management.
  (f) The Attorney General shall appoint one member who has
experience in banking and financial law.
  (2) The task force shall study and recommend statutes, rules
and regulations, operational procedures and other requirements
necessary to establish a state bank for the State of Oregon that
is modeled on the Bank of North Dakota.
  (3) The task force may review, investigate and otherwise study
the laws applicable to establishing a state bank, invite
witnesses to testify, contact and communicate with legal and
business experts in the banking field and otherwise take such
actions as are necessary and proper to formulate recommendations
for establishing a state bank.
  (4) A majority of the voting members of the task force
constitutes a quorum for the transaction of business.
 
  (5) Official action by the task force requires the approval of
a majority of the voting members of the task force.
  (6) The task force shall elect one of the task force members to
serve as chairperson.
  (7) If there is a vacancy for any cause, the appointing
authority shall make an appointment that becomes immediately
effective.
  (8) The task force shall meet at times and places specified by
the call of the chairperson or of a majority of the voting
members of the task force.
  (9) The task force may adopt rules necessary for the operation
of the task force.
  (10) The task force shall submit a report, and may include
recommendations for legislation, to an interim committee of the
Legislative Assembly related to banking and finance as
appropriate no later than October 1, 2012.
  (11) The Department of Consumer and Business Services shall
provide staff support to the task force.
  (12) Members of the task force who are not members of the
Legislative Assembly are not entitled to compensation, but may be
reimbursed for actual and necessary travel and other expenses
incurred by them in the performance of their official duties in
the manner and amounts provided for in ORS 292.495. Claims for
expenses incurred in performing functions of the task force shall
be paid out of funds appropriated to the Department of Consumer
and Business Services for purposes of the task force.
  (13) All agencies of state government, as defined in ORS
174.111, are directed to assist the task force in the performance
of the task force's duties and, to the extent permitted by laws
relating to confidentiality, to furnish such information and
advice as the members of the task force consider necessary to
perform their duties. + }
  SECTION 2.  { + Section 1 of this 2011 Act is repealed on the
date of the convening of the 2013 legislative session. + }
  SECTION 3.  { + This 2011 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2011 Act takes effect on its
passage. + }
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