ORS 82.160
Notice to borrower of penalty for repayment prior to date for repayment in loan agreement

(1)

If a loan agreement provides for a penalty to be charged for repaying the loan prior to the date provided for repayment in the loan agreement, the loan agreement shall contain in printing or writing of a size equal to at least 10-point bold or underlined type substantially the following notice:
Do not sign this loan agreement before you read it. This loan agreement provides for the payment of a penalty if you wish to repay the loan prior to the date provided for repayment in the loan agreement.

(2)

If a loan agreement does not contain a notice as required by subsection (1) of this section, a lender shall not collect from the borrower a penalty for payment of the loan prior to the date provided for repayment. [1973 c.611 §1; 1985 c.359 §1]

Source: Section 82.160 — Notice to borrower of penalty for repayment prior to date for repayment in loan agreement, https://www.­oregonlegislature.­gov/bills_laws/ors/ors082.­html.

Green check means up to date. Up to date

Current through early 2024

§ 82.160’s source at oregon​.gov