Or. Admin. R. 441-730-0060 – Loans Not to Be Payable on Demand; Exception | Midpage

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Oregon Administrative Rules

Rule 0060

Or. Admin. R. 441-730-0060

Loans Not to Be Payable on Demand; Exception

Effective Jul 1, 1978ORS 725 | Statutes/Other Implemented: ORS 725.050Department of Consumer and Business Services

(1) Except as provided by section (2) of this rule, a loan shall not be made payable on demand.
(2) A loan may provide that, if there is a default under the note or collateral security agreement, the loan may become due and payable immediately or on demand.

Statutory/Other Authority

ORS 725

Statutes/Other Implemented

ORS 725.050

History

BB 3-1978, f. 5-16-78, ef. 7-1-78, Renumbered from 805-075-0040
BB 14-1976, f. & ef. 11-15-76