ORS 716.584
Limitations on single loans on real estate
  • exceptions


(1)

If deposits are less than $1 million, a single loan on real estate shall not exceed $10,000. When deposits exceed $1 million but are less than $2 million, a single loan on real estate shall not exceed two and one-half percent of the deposits. When deposits exceed $2 million, a single loan on real estate shall not exceed two percent of the savings bank’s deposit liability.

(2)

A loan may exceed the limitations prescribed in subsection (1) of this section if the borrower furnishes the savings bank with a copy of an agreement entered into with a financially responsible person wherein the person agrees to refinance or repurchase, without recourse, the entire loan:

(a)

Upon completion of the construction, if the loan is a construction loan; or

(b)

Within six months from the date of the loan, if the loan is not a construction loan. [Formerly 716.500]

Source
Last accessed
May. 15, 2020