Oregon Constitution Article XI Sec. 1

[David Neil]

[allodial]

The Division of Finance & Corporate Securities (DFCS) charters, examines, and regulates state-chartered banks and trust companies doing business in Oregon.

As of September 30, 2013, there were 24 state-chartered banks.

In addition, there were 3 trust companies and/or bank trust departments providing trust services in Oregon.

Bank of America would be under a U.S. charter and might be construed to have an 'exemption' of some kind. As for the 24 state-chartered banks you might want to write head of Oregon Division of Finance and Corporate Securities (DFCS) and inquire.

[Chex]

In my research I came across this: How is it you think that BofA (any bank company)writes checks and issues loans in this state???

Section 1. Prohibition of state banks (Outlawing of state banks). The Legislative Assembly shall not have the power to establish, or incorporate (to unite or work into something already existent ) any bank or banking company (A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning), or monied (having money) [sic] institution whatever; nor shall any bank company (a financial institution that accepts deposits and channels the money into lending activities), or institution (an organization or establishment founded for a specific purpose)[sic] exist in the State (where you live), with the privilege of making, ( the rest is paper with numbers on it

[Keith Alan]

Banking in 'the' State isn't necessarily banking in 'this' State. Banking is interstate commerce.

[Chex]

Banking in 'the' State isn't necessarily banking in 'this' State. Banking is interstate commerce.

No doubt interstate commerce. The Oregon Constitution (1857), The Sherman Act (1890) followed by the Clayton Act (1914) made illegal any acts that tended to interfere in free competition between and among industries, businesses, and all interstate commercial ventures.

[Brian]

Here is another fun little Oregon nugget: http://www.oregonlaws.org/ors/652.110upon presentation and demand, pay the instrument in lawful money of the United States.

Then the subsequent sections of that statue go on to lay ways for you to hang yourself.

[David Neil]

Thank you all, I just got back on line after hiatus and am particularly interested in following up with more research given the leads so far

[allodial]

Remember the US chartered banks are in "Federal Reserve Districts" and might not be "in the State" or "in this State". I might suggest that if one really-really-really comprehends the way "government" is set up in the US/USA such statutes should make sense 110%.

[mikecz]

Here is another fun little Oregon nugget: http://www.oregonlaws.org/ors/652.110upon presentation and demand, pay the instrument in lawful money of the United States.

Then the subsequent sections of that statue go on to lay ways for you to hang yourself.

A nugget indeed... This is wonderful.

[Chex]

The General Assembly has operated continuously since 1777, when Georgia became one of the thirteen original states and revoked its status as a colony of Great Britain. http://www.legis.ga.gov/en-US/default.aspx

2010 Georgia Code
TITLE 34 - LABOR AND INDUSTRIAL RELATIONS
CHAPTER 7 - MASTER AND SERVANThttp://law.justia.com/codes/georgia/...icle-1/34-7-2/

[mikecz]

The General Assembly has operated continuously since 1777, when Georgia became one of the thirteen original states and revoked its status as a colony of Great Britain. http://www.legis.ga.gov/en-US/default.aspx

2010 Georgia Code
TITLE 34 - LABOR AND INDUSTRIAL RELATIONS
CHAPTER 7 - MASTER AND SERVANThttp://law.justia.com/codes/georgia/...icle-1/34-7-2/

http://law.justia.com/codes/georgia/...icle-1/34-7-3/

Just to add further evidence, this is further within the constitution..

(a) Any order, check, draft, note, or other instrument issued in payment of wages or salary due or to become due must be negotiable and payable in cash, on demand, without discount, at some established place of business in the United States, the name and address of which must appear on the instrument. At the time of issuance of such instrument and for a reasonable time thereafter (which must be at least 30 days), the maker or drawer must have sufficient funds or credit or an arrangement or understanding with the drawee as to its payment.

[allodial]

"in cash" vs "in lawful money. "place of business in the United States" vs "in this State".

Federal Reserve Notes -> cash.
place of business in the United States -> a bank in a Federal Reserve District.

The General Assembly has operated continuously since 1777, when Georgia became one of the thirteen original states and revoked its status as a colony of Great Britain.

Or did Georgia become a free, independent and sovereign state? Or is that the same thing?

[Chex]

Banking is interstate commerce.

More on interstate commerce.

"More than $65 million a day flows through that office." Shoffner who received thousands in cash gifts from Steele Stephens, a broker who made $2.5 million in commissions from deals with the office.

Shoffner's trial on extortion charges is expected to be completed today. Can her attorneys persuade a jury that cash gifts were just smelly actions of a friend helping a friend in need, or a crime?


The most interesting element of coverage today was a remark from Judge Leon Holmes that said defense attorneys had raised interesting questions of federal jurisdiction in the matter and that he might take briefs on the point if a verdict goes against Shoffner.

Defense attorney Grant Ballard then moved for acquittal, arguing that interstate commerce was not involved, no federal money was involved (may just be ) and no specific quid-pro-quo agreement existed between Shoffner and Stephens, so the requirements for federal extortion and bribery charges had not been met.

Assistant U.S. Attorney Stephanie Mazzanti argued that interstate commerce was affected by the bond trades that Shoffner allowed Stephens to conduct, that the includes some federal funds, and that Shoffner did approach Stephens with a request for financial help which he then provided and for which he received increased business and, consequently, commissions.

U.S. District Judge Leon Holmes said he would take the arguments under advisement and revisit them in the event of a guilty verdict.

From, http://www.arktimes.com/ArkansasBlog...asurers-officehttp://law.justia.com/codes/arkansas...r-1/14-23-106/

It will be interesting to read U.S. District Judge Leon Holmes verdict.

[David Neil]

Here is another fun little Oregon nugget: http://www.oregonlaws.org/ors/652.110

unless the instrument is negotiable and payable without discount .

The stipulation in the law that wages must be payed in an instrument that is not discounted seems to demand that the payment be made in lawful money since the return required for FRN use (our income tax) is a form of discount??

[allodial]

More on interstate commerce.

"More than $65 million a day flows through that office." Shoffner who received thousands in cash gifts from Steele Stephens, a broker who made $2.5 million in commissions from deals with the office.

Shoffner's trial on extortion charges is expected to be completed today. Can her attorneys persuade a jury that cash gifts were just smelly actions of a friend helping a friend in need, or a crime?


The most interesting element of coverage today was a remark from Judge Leon Holmes that said defense attorneys had raised interesting questions of federal jurisdiction in the matter and that he might take briefs on the point if a verdict goes against Shoffner.

Defense attorney Grant Ballard then moved for acquittal, arguing that interstate commerce was not involved, no federal money was involved (may just be ) and no specific quid-pro-quo agreement existed between Shoffner and Stephens, so the requirements for federal extortion and bribery charges had not been met.

Assistant U.S. Attorney Stephanie Mazzanti argued that interstate commerce was affected by the bond trades that Shoffner allowed Stephens to conduct, that the includes some federal funds, and that Shoffner did approach Stephens with a request for financial help which he then provided and for which he received increased business and, consequently, commissions.

U.S. District Judge Leon Holmes said he would take the arguments under advisement and revisit them in the event of a guilty verdict.

From, http://www.arktimes.com/ArkansasBlog...asurers-officehttp://law.justia.com/codes/arkansas...r-1/14-23-106/

It will be interesting to read U.S. District Judge Leon Holmes verdict.

State Treasurer's office != chartered bank. Arkansas might have different perspective on state banks than Oregon.