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Oregon Revised Statutes

Or. Rev. Stat. § 708A.435 (2026)

Adverse claim to deposit; notice; restraining order or other process; indemnity bond or letter of credit

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      708A.435 Adverse claim to deposit; notice; restraining order or other process; indemnity bond or letter of credit. (1) An insured institution shall recognize an adverse claim to a deposit the insured institution holds only if the adverse claimant gives notice to the insured institution of the adverse claim and:

      (a) Procures a restraining order, injunction or other appropriate process against the insured institution in an action wherein the person to whose credit the deposit stands is made a party and served with summons; or

      (b) Delivers to the insured institution in a form, and with sureties acceptable to the insured institution, a bond or an irrevocable letter of credit that another insured institution has issued to indemnify the insured institution from any liability, damage and expenses that may arise from paying the adverse claim or dishonoring the check or other order of the person to whose credit the deposit stands.

      (2) This section does not apply if the person in whose name the account is carried is a fiduciary for the adverse claimant, and the affidavit of the adverse claimant states the facts constituting the fiduciary relationship and the facts showing reasonable cause for the claimant’s belief that the fiduciary is about to misappropriate the deposit.

      (3) An insured institution may, at the insured institution’s option, interplead a deposit that is subject to an adverse claim. [1997 c.631 §168; 2015 c.244 §50]

Notes of Decisions
Cited in 1 case, 2002–2002 · leading case: Newton v. Bank of the West, 51 P.3d 1281 (Or. Ct. App. 2002).
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Newton v. Bank of the West, 51 P.3d 1281 (Or. Ct. App. 2002). · cites it 5× “” The bank, for its part, argues that this provision by its terms does not require the bank to dispense funds to the surviving owner of a joint account and that the provision must be read in conjunction with others, including in particular ORS 708A.”
Or. Rev. Stat. § 708A.435(3): 1 case
Newton v. Bank of the West, 51 P.3d 1281 (Or. Ct. App. 2002). “” The bank, for its part, argues that this provision by its terms does not require the bank to dispense funds to the surviving owner of a joint account and that the provision must be read in conjunction with others, including in particular ORS 708A.”
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