Savings Banks

ORS 716.574
Purchase of real estate sale contract as loan

  • authority to acquire contracts


(1)

The purchase of a bona fide contract covering a sale of real estate is a loan on real estate within the meaning of ORS 716.552 (Investments in notes or bonds secured by real estate mortgages or trust deeds) to 716.574 (Purchase of real estate sale contract as loan).

(2)

A savings bank may acquire contracts covering a sale of real estate if all other requirements of ORS 716.552 (Investments in notes or bonds secured by real estate mortgages or trust deeds) to 716.574 (Purchase of real estate sale contract as loan) are satisfied. [1973 c.797 §371i; 1985 c.554 §12]
Chapter 716

Atty. Gen. Opinions

Applicability of licensing and registration requirements under Bank Act to loan solicitation office operating in Oregon, (1985) Vol. 44, p 378


Source

Last accessed
Jun. 26, 2021