Or. Admin. R. 441-735-0060

Current through Register Vol. 63, No. 9, September 1, 2024

Section 441-735-0060 - Loans Not to Be Payable on Demand; Exception

(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.

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

Stat. Auth.: ORS 725A.092

Stats. Implemented: ORS 725A.060