(1) An out-of-state bank may occupy and maintain the out-of-state banks initial branches in this state if and only if the out-of-state bank acquires the branches in accordance with ORS chapters 711 and 713. (2) An out-of-state bank that is properly occupying and maintaining one or more branches in this state in accordance with ORS chapters 711 and 713 may thereafter open, occupy and maintain one or more additional branches in this state. (3) An out-of-state bank that acquires branches in accordance with ORS chapters 711 and 713 is entitled to exercise powers and engage in activities at the out-of-state banks branches in this state as provided in ORS 713.010 and applicable federal law.
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