Or. Admin. Code § 441-730-0060

Current through Register Vol. 64, No. 1, January 1, 2025

Section 441-730-0060 - Loans Not to Be Payable on Demand; Exception

(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.

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

Stat. Auth.: ORS 725

Stats. Implemented: ORS 725.050