Or. Admin. R. 441-735-0060 – Loans Not to Be Payable on Demand; Exception | Midpage

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Oregon Administrative Rules

Rule 0060

Or. Admin. R. 441-735-0060

Loans Not to Be Payable on Demand; Exception

Effective Jul 23, 2012ORS 725A.092 | Statutes/Other Implemented: ORS 725A.060Department of Consumer and Business Services

(1) Except as provided by section (2) of this rule, a loan must 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 725A.092

Statutes/Other Implemented

ORS 725A.060

History

FCS 2-2012, f. & cert. ef. 7-23-12
FCS 7-2010, f. & cert. ef. 6-4-10