ORS § 84.064 — OR Code / Title 8 / Chapter 84 / Section 84.064
84.064 State Chief Information Officer duties
Status: in_force

(1) For purposes of ORS 84.049 (Creation and retention of electronic records by governmental agency) , 84.052 (Acceptance and distribution of electronic records by governmental agencies) and 84.055 (Interoperability) , the State Chief Information Officer shall make determinations and adopt standards for state agencies.

(2) The State Chief Information Officer shall adopt rules to govern state agency use of electronic signatures. The rules must include control processes and procedures to ensure adequate integrity, security and confidentiality for business transactions that state agencies conduct using electronic commerce and to ensure that the transactions can be audited as is necessary for the normal conduct of business.

(3) As used in this section, “state agency” means every state officer and board, commission, department, institution, branch and agency of the state government, the costs of which are paid wholly or in part from funds held in the State Treasury, except:

(a) The Legislative Assembly, the courts, the district attorney for each county and the officers and committees of the Legislative Assembly, the courts and the district attorney; and

(b) The Oregon Public Defense Commission. [2001 c.535 §22; 2003 c.449 §24; 2005 c.118 §2; 2015 c.807 §9; 2023 c.281 §22]

Note: The amendments to 84.064 (State Chief Information Officer duties) by section 81, chapter 281, Oregon Laws 2023, become operative January 1, 2025. See section 92, chapter 281, Oregon Laws 2023. The text that is operative on and after January 1, 2025, is set forth for the user’s convenience.

84.064 (State Chief Information Officer duties) . (1) For purposes of ORS 84.049 (Creation and retention of electronic records by governmental agency) , 84.052 (Acceptance and distribution of electronic records by governmental agencies) and 84.055 (Interoperability) , the State Chief Information Officer shall make determinations and adopt standards for state agencies.

(2) The State Chief Information Officer shall adopt rules to govern state agency use of electronic signatures. The rules must include control processes and procedures to ensure adequate integrity, security and confidentiality for business transactions that state agencies conduct using electronic commerce and to ensure that the transactions can be audited as is necessary for the normal conduct of business.

(3) As used in this section, “state agency” means every state officer and board, commission, department, institution, branch and agency of the state government, the costs of which are paid wholly or in part from funds held in the State Treasury, except the Legislative Assembly, the courts, the district attorney for each county and the officers and committees of the Legislative Assembly, the courts and the district attorney.

Source: Section 84.064 — State Chief Information Officer duties; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors084.­html (accessed May 26, 2025).
ORS § 84.001 — OR Code / Title 8 / Chapter 84 / Section 84.001
84.001 Short title
Status: in_force

ORS 84.001 (Short title) to 84.061 (Federal electronic signatures law partially superseded) may be cited as the Uniform Electronic Transactions Act. [2001 c.535 §1]

Source: Section 84.001 — Short title , https://www.­oregonlegislature.­gov/bills_laws/ors/ors084.­html (accessed May 26, 2025).
ORS § 72.5030 — OR Code / Title 8 / Chapter 72 / Section 72.5030
72.5030 Manner of seller’s tender of delivery
Status: in_force

(1) Tender of delivery requires that the seller put and hold conforming goods at the buyer’s disposition and give the buyer any notification reasonably necessary to enable the buyer to take delivery. The manner, time and place for tender are determined by the agreement and this chapter, and in particular:

(a) Tender must be at a reasonable hour, and if it is of goods they must be kept available for the period reasonably necessary to enable the buyer to take possession; but

(b) Unless otherwise agreed the buyer must furnish facilities reasonably suited to the receipt of the goods.

(2) Where the case is within ORS 72.5040 (Shipment by seller) respecting shipment tender requires that the seller comply with its provisions.

(3) Where the seller is required to deliver at a particular destination tender requires that the seller comply with subsection (1) of this section and also in any appropriate case tender documents as described in subsections (4) and (5) of this section.

(4) Where goods are in the possession of a bailee and are to be delivered without being moved:

(a) Tender requires that the seller either tender a negotiable document of title covering such goods or procure acknowledgment by the bailee of the buyer’s right to possession of the goods; but

(b) Tender to the buyer of a nonnegotiable document of title or of a record directing the bailee to deliver is sufficient tender unless the buyer seasonably objects, and except as otherwise provided in ORS chapter 79 receipt by the bailee of notification of the buyer’s rights fixes those rights as against the bailee and all third persons; but risk of loss of the goods and of any failure by the bailee to honor the nonnegotiable document of title or to obey the direction remains on the seller until the buyer has had a reasonable time to present the document or direction, and a refusal by the bailee to honor the document or to obey the direction defeats the tender.

(5) Where the contract requires the seller to deliver documents:

(a) The seller must tender all such documents in correct form, except as provided in ORS 72.3230 (Form of bill of lading required in overseas shipment) (2) with respect to bills of lading in a set; and

(b) Tender through customary banking channels is sufficient and dishonor of a draft accompanying or associated with the documents constitutes nonacceptance or rejection. [1961 c.726 § 72.5030 (Manner of seller’s tender of delivery) ; 2009 c.181 §30]

Source: Section 72.5030 — Manner of seller’s tender of delivery , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 83.130 — OR Code / Title 8 / Chapter 83 / Section 83.130
83.130 Voluntary prepayment by buyer
Status: in_force

(1) Notwithstanding the provisions of any retail installment contract to the contrary, and if the rights of the purchaser have not been terminated or forfeited under the terms of the contract, any buyer may prepay in full the unpaid time balance thereof at any time before its final due date. If the buyer does so, and if the contract is not in default more than two months under any term or condition of the contract, the buyer shall receive a refund credit of the unearned portion of the service charge for the prepayment. The amount of the refund credit shall be not less than the total service charge contracted for to maturity, less the greater of:

(a) Ten percent of the amount financed or $75, whichever is less; or

(b) Either of the following, at the discretion of the seller or holder:

(A) The service charge earned to the date of prepayment, computed by applying the effective rate on the contract to the actual principal balances outstanding, for the periods of time the balances were actually outstanding. In determining the effective rate, the holder may apply to the scheduled payments the actuarial method by which each scheduled payment is applied first to the accrued and unpaid service charges and any amount remaining is applied to the reduction of the principal balance.

(B) The service charge earned to the installment due date nearest the date of prepayment, computed by applying the effective rate on the contract to the actual principal balances outstanding, for the periods of time the balances were actually outstanding. For purposes of rebate computations under this subparagraph, the installment due date preceding the date of prepayment shall be considered to be nearest if prepayment occurs 15 days or less after that installment date. If prepayment occurs more than 15 days after the preceding installment due date, the next succeeding installment due date shall be considered to be nearest to the date of prepayment. In determining the effective rate, the seller may apply to the scheduled payments the actuarial method, by which each scheduled payment is applied first to the accrued and unpaid service charges and any amount remaining is applied to reduction of the principal balance.

(2) When the amount of the refund credit is less than $2, no refund need be made. [1963 c.489 §8; 1981 c.910 §1; 1983 c.432 §1]

Source: Section 83.130 — Voluntary prepayment by buyer; refund , https://www.­oregonlegislature.­gov/bills_laws/ors/ors083.­html (accessed May 26, 2025).
ORS § 79.0307 — OR Code / Title 8 / Chapter 79 / Section 79.0307
79.0307 UCC 9-307. Location of debtor
Status: in_force

(1) As used in this section, “place of business” means a place where a debtor conducts its affairs.

(2) Except as otherwise provided in this section, the following rules determine a debtor’s location:

(a) A debtor who is an individual is located at the individual’s principal residence.

(b) A debtor that is an organization and has only one place of business is located at its place of business.

(c) A debtor that is an organization and has more than one place of business is located at its chief executive office.

(3) Subsection (2) of this section applies only if a debtor’s residence, place of business or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording or registration system as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral. If subsection (2) of this section does not apply, the debtor is located in the District of Columbia.

(4) A person that ceases to exist, have a residence or have a place of business continues to be located in the jurisdiction specified by subsections (2) and (3) of this section.

(5) A registered organization that is organized under the law of a state is located in that state.

(6) Except as otherwise provided in subsection (9) of this section, a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located:

(a) In the state that the law of the United States designates, if the law designates a state of location;

(b) In the state that the registered organization, branch or agency designates, if the law of the United States authorizes the registered organization, branch or agency to designate its state of location, including by designating its main office, home office or other comparable office; or

(c) In the District of Columbia, if neither paragraph (a) nor paragraph (b) of this subsection applies.

(7) A registered organization continues to be located in the jurisdiction specified by subsection (5) or (6) of this section notwithstanding:

(a) The suspension, revocation, forfeiture or lapse of the registered organization’s status as such in its jurisdiction of organization; or

(b) The dissolution, winding up or cancellation of the existence of the registered organization.

(8) The United States is located in the District of Columbia.

(9) A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one state.

(10) A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.

(11) This section applies only for purposes of ORS 79.0301 (UCC 9-301. Law governing perfection and priority of security interests) to 79.0342 (UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement) . [2001 c.445 §27; 2012 c.12 §4]

Source: Section 79.0307 — UCC 9-307. Location of debtor , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 72.1060 — OR Code / Title 8 / Chapter 72 / Section 72.1060
72.1060 Definitions: “contract”
Status: in_force

(1) In this chapter, unless the context otherwise requires, “contract” and “agreement” are limited to those relating to the present or future sale of goods. “Contract for sale” includes both a present sale of goods and a contract to sell goods at a future time. A “sale” consists in the passing of title from the seller to the buyer for a price. A “present sale” means a sale which is accomplished by the making of the contract.

(2) Goods or conduct including any part of a performance are “conforming” or conform to the contract when they are in accordance with the obligations under the contract.

(3) “Termination” occurs when either party pursuant to a power created by agreement or law puts an end to the contract otherwise than for its breach. On “termination” all obligations which are still executory on both sides are discharged but any right based on prior breach or performance survives.

(4) “Cancellation” occurs when either party puts an end to the contract for breach by the other and its effect is the same as that of “termination” except that the canceling party also retains any remedy for breach of the whole contract or any unperformed balance. [1961 c.726 § 72.1060 (Definitions: “contract”) ]

Source: Section 72.1060 — Definitions: “contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “conforming” to contract; “termination”; “cancellation.” , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 73.0115 — OR Code / Title 8 / Chapter 73 / Section 73.0115
73.0115 Incomplete instrument
Status: in_force

(1) “Incomplete instrument” means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers.

(2) Subject to subsection (3) of this section, if the incomplete instrument is an instrument under ORS 73.0104 (Negotiable instrument) , it may be enforced according to its terms if it is not completed, or according to its terms as augmented by completion. If an incomplete instrument is not an instrument under ORS 73.0104 (Negotiable instrument) , but, after completion, the requirements of ORS 73.0104 (Negotiable instrument) are met, the instrument may be enforced according to its terms as augmented by completion.

(3) If words or numbers are added to an incomplete instrument without authority of the signer, there is an alteration of the incomplete instrument under ORS 73.0407 (Alteration) .

(4) The burden of establishing that words or numbers were added to an incomplete instrument without authority of the signer is on the person asserting the lack of authority. [1993 c.545 §18]

Source: Section 73.0115 — Incomplete instrument , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 79.0204 — OR Code / Title 8 / Chapter 79 / Section 79.0204
79.0204 UCC 9-204. After-acquired property
Status: in_force

(1) Except as otherwise provided in subsection (2) of this section, a security agreement may create or provide for a security interest in after-acquired collateral.

(2) A security interest does not attach under a term constituting an after-acquired property clause to:

(a) Consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within 10 days after the secured party gives value; or

(b) A commercial tort claim.

(3) A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment. [2001 c.445 §14]

Source: Section 79.0204 — UCC 9-204. After-acquired property; future advances , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 79.0305 — OR Code / Title 8 / Chapter 79 / Section 79.0305
79.0305 UCC 9-305. Law governing perfection and priority of security interests in investment property
Status: in_force

(1) Except as otherwise provided in subsection (3) of this section, the following rules apply:

(a) While a security certificate is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a security interest in the certificated security represented thereby.

(b) The local law of the issuer’s jurisdiction as specified in ORS 78.1100 (Applicability) (4) governs perfection, the effect of perfection or nonperfection and the priority of a security interest in an uncertificated security.

(c) The local law of the securities intermediary’s jurisdiction as specified in ORS 78.1100 (Applicability) (5) governs perfection, the effect of perfection or nonperfection and the priority of a security interest in a security entitlement or securities account.

(d) The local law of the commodity intermediary’s jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of a security interest in a commodity contract or commodity account.

(2) The following rules determine a commodity intermediary’s jurisdiction for purposes of ORS 79.0301 (UCC 9-301. Law governing perfection and priority of security interests) to 79.0342 (UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement) :

(a) If an agreement between the commodity intermediary and commodity customer governing the commodity account expressly provides that a particular jurisdiction is the commodity intermediary’s jurisdiction for purposes of ORS 79.0301 (UCC 9-301. Law governing perfection and priority of security interests) to 79.0342 (UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement) , this chapter or the Uniform Commercial Code, that jurisdiction is the commodity intermediary’s jurisdiction.

(b) If paragraph (a) of this subsection does not apply and an agreement between the commodity intermediary and commodity customer governing the commodity account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the commodity intermediary’s jurisdiction.

(c) If neither paragraph (a) nor paragraph (b) of this subsection applies and an agreement between the commodity intermediary and commodity customer governing the commodity account expressly provides that the commodity account is maintained at an office in a particular jurisdiction, that jurisdiction is the commodity intermediary’s jurisdiction.

(d) If paragraphs (a) to (c) of this subsection do not apply, the commodity intermediary’s jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the commodity customer’s account is located.

(e) If paragraphs (a) to (d) of this subsection do not apply, the commodity intermediary’s jurisdiction is the jurisdiction in which the chief executive office of the commodity intermediary is located.

(3) The local law of the jurisdiction in which the debtor is located governs:

(a) Perfection of a security interest in investment property by filing;

(b) Automatic perfection of a security interest in investment property created by a broker or securities intermediary; and

(c) Automatic perfection of a security interest in a commodity contract or commodity account created by a commodity intermediary. [2001 c.445 §25]

Source: Section 79.0305 — UCC 9-305. Law governing perfection and priority of security interests in investment property , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 73.0415 — OR Code / Title 8 / Chapter 73 / Section 73.0415
73.0415 Obligation of indorser
Status: in_force

(1) Subject to subsections (2), (3) and (4) of this section and to ORS 73.0419 (Instruments signed for accommodation) (4), if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument according to the terms of the instrument at the time it was indorsed, or if the indorser indorsed an incomplete instrument, according to its terms when completed, to the extent stated in ORS 73.0115 (Incomplete instrument) and 73.0407 (Alteration) . The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument under this section.

(2) If an indorsement states that it is made “without recourse” or otherwise disclaims liability of the indorser, the indorser is not liable under subsection (1) of this section to pay the instrument.

(3) If notice of dishonor of an instrument is required by ORS 73.0503 (Notice of dishonor) and notice of dishonor complying with that section is not given to an indorser, the liability of the indorser under subsection (1) of this section is discharged.

(4) If a draft is accepted by a bank after an indorsement is made, the liability of the indorser under subsection (1) of this section is discharged.

(5) If an indorser of a check is liable under subsection (1) of this section and the check is not presented for payment or given to a depositary bank for collection within 30 days after the day the indorsement was made, the liability of the indorser under subsection (1) of this section is discharged. [1993 c.545 §56]

Source: Section 73.0415 — Obligation of indorser , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 72.3040 — OR Code / Title 8 / Chapter 72 / Section 72.3040
72.3040 Price payable in money, goods, realty or otherwise
Status: in_force

(1) The price can be made payable in money or otherwise. If it is payable in whole or in part in goods each party is a seller of the goods which the party is to transfer.

(2) Even though all or part of the price is payable in an interest in realty the transfer of the goods and the seller’s obligations with reference to them are subject to this chapter, but not the transfer of the interest in realty or the transferor’s obligations in connection therewith. [1961 c.726 § 72.3040 (Price payable in money, goods, realty or otherwise) ]

Source: Section 72.3040 — Price payable in money, goods, realty or otherwise , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 74.5010 — OR Code / Title 8 / Chapter 74 / Section 74.5010
74.5010 Handling of documentary drafts
Status: in_force

A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right. [1961 c.726 § 74.5010 (Handling of documentary drafts) ; 1993 c.545 §110]

Source: Section 74.5010 — Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor , https://www.­oregonlegislature.­gov/bills_laws/ors/ors074.­html (accessed May 26, 2025).
ORS § 72.5070 — OR Code / Title 8 / Chapter 72 / Section 72.5070
72.5070 Effect of seller’s tender
Status: in_force

(1) Tender of delivery is a condition to the buyer’s duty to accept the goods and, unless otherwise agreed, to the duty of the buyer to pay for them. Tender entitles the seller to acceptance of the goods and to payment according to the contract.

(2) Where payment is due and demanded on the delivery to the buyer of goods or documents of title, the right of the buyer as against the seller to retain or dispose of them is conditional upon the buyer’s making the payment due. [1961 c.726 § 72.5070 (Effect of seller’s tender) ]

Source: Section 72.5070 — Effect of seller’s tender; delivery on condition , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 73.0307 — OR Code / Title 8 / Chapter 73 / Section 73.0307
73.0307 Notice of breach of fiduciary duty
Status: in_force

(1) In this section:

(a) “Fiduciary” means an agent, trustee, partner, corporate officer, director or other representative owing a fiduciary duty with respect to an instrument.

(b) “Represented person” means the principal, beneficiary, partnership, corporation or other person to whom the duty stated in paragraph (a) of this subsection is owed.

(2) If an instrument is taken from a fiduciary for payment or collection or for value, the taker has knowledge of the fiduciary status of the fiduciary, and the represented person makes a claim to the instrument or its proceeds on the basis that the transaction of the fiduciary is a breach of fiduciary duty, the following rules apply:

(a) Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the represented person.

(b) In the case of an instrument payable to the represented person or the fiduciary as such, the taker has notice of the breach of fiduciary duty if the instrument is:

(A) Taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary;

(B) Taken in a transaction known by the taker to be for the personal benefit of the fiduciary; or

(C) Deposited to an account other than an account of the fiduciary, as such, or an account of the represented person.

(c) If an instrument is issued by the represented person or the fiduciary as such, and made payable to the fiduciary personally, the taker does not have notice of the breach of fiduciary duty unless the taker knows of the breach of fiduciary duty.

(d) If an instrument is issued by the represented person or the fiduciary as such, to the taker as payee, the taker has notice of the breach of fiduciary duty if the instrument is:

(A) Taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary;

(B) Taken in a transaction known by the taker to be for the personal benefit of the fiduciary; or

(C) Deposited to an account other than an account of the fiduciary, as such, or an account of the represented person. [1993 c.545 §36]

Source: Section 73.0307 — Notice of breach of fiduciary duty , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 73.0503 — OR Code / Title 8 / Chapter 73 / Section 73.0503
73.0503 Notice of dishonor
Status: in_force

(1) The obligation of an indorser stated in ORS 73.0415 (Obligation of indorser) (1) and the obligation of a drawer stated in ORS 73.0414 (Obligation of drawer) (4) may not be enforced unless the indorser or drawer is given notice of dishonor of the instrument complying with this section or notice of dishonor is excused under ORS 73.0504 (Excused presentment and notice of dishonor) (2).

(2) Notice of dishonor may be given by any person, may be given by any commercially reasonable means, including an oral, written or electronic communication, and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. Return of an instrument given to a bank for collection is sufficient notice of dishonor.

(3) Subject to ORS 73.0504 (Excused presentment and notice of dishonor) (3), with respect to an instrument taken for collection by a collecting bank, notice of dishonor must be given by the bank before midnight of the next banking day following the banking day on which the bank receives notice of dishonor of the instrument, or by any other person within 30 days following the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given within 30 days following the day on which dishonor occurs. [1993 c.545 §64]

Source: Section 73.0503 — Notice of dishonor , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 73.0114 — OR Code / Title 8 / Chapter 73 / Section 73.0114
73.0114 Contradictory terms of instrument
Status: in_force

If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. [1993 c.545 §17]

Source: Section 73.0114 — Contradictory terms of instrument , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 73.0404 — OR Code / Title 8 / Chapter 73 / Section 73.0404
73.0404 Impostors
Status: in_force

(1) If an impostor, by use of the mails or otherwise, induces the issuer of an instrument to issue the instrument to the impostor, or to a person acting in concert with the impostor, by impersonating the payee of the instrument or a person authorized to act for the payee, an indorsement of the instrument by any person in the name of the payee is effective as the indorsement of the payee in favor of a person who, in good faith, pays the instrument or takes it for value or for collection.

(2) If a person whose intent determines to whom an instrument is payable under ORS 73.0110 (Identification of person to whom instrument is payable) (1) or (2) does not intend the person identified as payee to have any interest in the instrument or the person identified as payee of an instrument is a fictitious person, the following rules apply until the instrument is negotiated by special indorsement:

(a) Any person in possession of the instrument is its holder.

(b) An indorsement by any person in the name of the payee stated in the instrument is effective as the indorsement of the payee in favor of a person who, in good faith, pays the instrument or takes it for value or for collection.

(3) Under subsection (1) or (2) of this section, an indorsement is made in the name of a payee if:

(a) It is made in a name substantially similar to that of the payee; or

(b) The instrument, whether or not indorsed, is deposited in a depositary bank to an account in a name substantially similar to that of the payee.

(4) With respect to an instrument to which subsection (1) or (2) of this section applies, if a person paying the instrument or taking it for value or for collection fails to exercise ordinary care in paying or taking the instrument and that failure substantially contributes to loss resulting from payment of the instrument, the person bearing the loss may recover from the person failing to exercise ordinary care to the extent the failure to exercise ordinary care contributed to the loss. [1993 c.545 §45]

Source: Section 73.0404 — Impostors; fictitious payees , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 75.1090 — OR Code / Title 8 / Chapter 75 / Section 75.1090
75.1090 Fraud and forgery
Status: in_force

(1) If a presentation is made that appears on its face strictly to comply with the terms and conditions of the letter of credit, but a required document is forged or materially fraudulent, or honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant:

(a) The issuer shall honor the presentation, if honor is demanded by:

(A) A nominated person who has given value in good faith and without notice of forgery or material fraud;

(B) A confirmer who has honored its confirmation in good faith;

(C) A holder in due course of a draft drawn under the letter of credit that was taken after acceptance by the issuer or nominated person; or

(D) An assignee of the issuer’s or nominated person’s deferred obligation that was taken for value and without notice of forgery or material fraud after the obligation was incurred by the issuer or nominated person; and

(b) The issuer, acting in good faith, may honor or dishonor the presentation in any other case.

(2) If an applicant claims that a required document is forged or materially fraudulent or that honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant, a court of competent jurisdiction may temporarily or permanently enjoin the issuer from honoring a presentation or grant similar relief against the issuer or other persons only if the court finds that:

(a) The relief is not prohibited under the law applicable to an accepted draft or deferred obligation incurred by the issuer;

(b) A beneficiary, issuer or nominated person who may be adversely affected is adequately protected against loss that it may suffer because the relief is granted;

(c) All of the conditions to entitle a person to the relief under the law of this state have been met; and

(d) On the basis of the information submitted to the court, the applicant is more likely than not to succeed under its claim of forgery or material fraud and the person demanding honor does not qualify for protection under subsection (1)(a) of this section. [1961 c.726 § 75.1090 (Fraud and forgery) ; 1997 c.150 §12]

Source: Section 75.1090 — Fraud and forgery , https://www.­oregonlegislature.­gov/bills_laws/ors/ors075.­html (accessed May 26, 2025).
ORS § 79.0518 — OR Code / Title 8 / Chapter 79 / Section 79.0518
79.0518 UCC 9-518. Claim concerning inaccurate or wrongfully filed record
Status: in_force

(1) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed.

(2) An information statement under subsection (1) of this section must:

(a) Identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;

(b) Indicate that it is an information statement;

(c) Provide the basis for the person’s belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person’s belief that the record was wrongfully filed; and

(d) Indicate the name of the debtor and the secured party.

(3) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the filing statement to which the record relates and believes that the person that filed the record was not entitled to do so under ORS 79.0509 (UCC 9-509. Persons entitled to file a record) (4).

(4) An information statement under subsection (3) of this section must:

(a) Identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;

(b) Indicate that it is an information statement; and

(c) Provide the basis for the person’s belief that the person that filed the record was not entitled to do so under ORS 79.0509 (UCC 9-509. Persons entitled to file a record) (4).

(5) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record. [2001 c.445 §89; 2012 c.12 §16]

Source: Section 79.0518 — UCC 9-518. Claim concerning inaccurate or wrongfully filed record , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 77.4020 — OR Code / Title 8 / Chapter 77 / Section 77.4020
77.4020 Duplicate document of title
Status: in_force

A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not confer any right in the goods, except as provided in the case of tangible bills of lading in a set of parts, overissue of documents for fungible goods, substitutes for lost, stolen or destroyed documents or substitute documents issued pursuant to ORS 77.1050 (Reissuance in alternative medium) . The issuer is liable for damages caused by its overissue or failure to identify a duplicate document by conspicuous notation. [1961 c.726 § 77.4020 (Duplicate document of title) ; 2009 c.181 §74]

Source: Section 77.4020 — Duplicate document of title; overissue , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).
ORS § 79.0326 — OR Code / Title 8 / Chapter 79 / Section 79.0326
79.0326 UCC 9-326. Priority of security interests created by new debtor
Status: in_force

(1) Subject to subsection (2) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of ORS 79.0316 (UCC 9-316. Effect of change in governing law) (9)(a) or 79.0508 (UCC 9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement) is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.

(2) The other provisions of ORS 79.0301 (UCC 9-301. Law governing perfection and priority of security interests) to 79.0342 (UCC 9-342. Bank’s right to refuse to enter into or disclose existence of control agreement) determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (1) of this section. However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor’s having become bound. [2001 c.445 §46; 2012 c.12 §8]

Source: Section 79.0326 — UCC 9-326. Priority of security interests created by new debtor , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 72a.5070 — OR Code / Title 8 / Chapter 72a / Section 72a.5070
72A.5070 Proof of market rent
Status: in_force

(1) Damages based on market rent under ORS 72A.5190 (Lessee’s damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods) or 72A.5280 (Lessor’s damages for default) are determined according to the rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the time of the default.

(2) If evidence of rent for the use of the goods concerned for a lease term identical to the remaining lease term of the original lease agreement and prevailing at the times or places described in this chapter is not readily available, the rent prevailing within any reasonable time before or after the time described or at any other place or for a different lease term which in commercial judgment or under usage of trade would serve as a reasonable substitute for the one described may be used, making any proper allowance for the difference, including the cost of transporting the goods to or from the other place.

(3) Evidence of a relevant rent prevailing at a time or place or for a lease term other than the one described in this chapter offered by one party is not admissible unless and until one party has given the other party notice the court finds sufficient to prevent unfair surprise.

(4) If the prevailing rent or value of any goods regularly leased in any established market is in issue, reports in official publications, trade journals, newspapers or periodicals of general circulation published as the reports of that market are admissible in evidence. The circumstances of the preparation of the report may be shown to affect its weight but not its admissibility. [1989 c.676 §54]

Source: Section 72A.5070 — Proof of market rent; time and place , https://www.­oregonlegislature.­gov/bills_laws/ors/ors72A.­html (accessed May 26, 2025).
ORS § 78.2070 — OR Code / Title 8 / Chapter 78 / Section 78.2070
78.2070 Rights of issuer with respect to registered owners
Status: in_force

(1) Before due presentment for registration of transfer of a certificated security in registered form or of an instruction requesting registration of transfer of an uncertificated security, the issuer or indenture trustee may treat the registered owner as the person exclusively entitled to vote, receive notifications and otherwise exercise all the rights and powers of an owner.

(2) This chapter does not affect the liability of the registered owner of a security for a call, assessment, or the like. [1961 c.726 § 78.2070 (Rights of issuer with respect to registered owners) ; 1985 c.676 § 78.2070 (Rights of issuer with respect to registered owners) ; 1995 c.328 §23]

Source: Section 78.2070 — Rights of issuer with respect to registered owners , https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html (accessed May 26, 2025).
ORS § 73.0119 — OR Code / Title 8 / Chapter 73 / Section 73.0119
73.0119 Notice of right to defend action
Status: in_force

In an action for breach of an obligation over which a third person is answerable pursuant to this chapter or ORS chapter 74, the defendant may give the third person written notice of the litigation, and the person notified may then give similar notice to any other person who is answerable. If the notice states that the person notified may come in and defend and that failure to do so will bind the person notified in an action later brought by the person giving notice as to any determination of fact common to the two litigations, the person notified is so bound unless after seasonable receipt of the notice the person notified does come in and defend. [1993 c.545 §22]

NEGOTIATION, TRANSFER AND INDORSEMENT

Source: Section 73.0119 — Notice of right to defend action , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 77.1030 — OR Code / Title 8 / Chapter 77 / Section 77.1030
77.1030 Relation of chapter to treaty or statute
Status: in_force

(1) This chapter is subject to any treaty or statute of the United States or regulatory statute of this state to the extent the treaty, statute or regulatory statute is applicable.

(2) This chapter does not modify or repeal any law prescribing the form or content of a document of title or the services or facilities to be afforded by a bailee, or otherwise regulating a bailee’s business in respects not specifically treated in this chapter. However, violation of such a law does not affect the status of a document of title that otherwise is within the definition of a document of title.

(3) This chapter modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., except that nothing in this chapter modifies, limits or supercedes 7001(c) of that Act or authorizes electronic delivery of any of the notices described in section 7003(b) of that Act.

(4) To the extent there is a conflict between the Uniform Electronic Transactions Act and this chapter, this chapter governs. [1961 c.726 § 77.1030 (Relation of chapter to treaty or statute) ; 2009 c.181 §51]

Source: Section 77.1030 — Relation of chapter to treaty or statute , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).
ORS § 79.0108 — OR Code / Title 8 / Chapter 79 / Section 79.0108
79.0108 UCC 9-108. Sufficiency of description
Status: in_force

(1) Except as otherwise provided in subsections (3), (4) and (5) of this section, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.

(2) Except as otherwise provided in subsection (4) of this section, a description of collateral reasonably identifies the collateral if it identifies the collateral by:

(a) Specific listing;

(b) Category;

(c) Except as otherwise provided in subsection (5) of this section, a type of collateral defined in the Uniform Commercial Code;

(d) Quantity;

(e) Computational or allocational formula or procedure; or

(f) Except as otherwise provided in subsection (3) of this section, any other method, if the identity of the collateral is objectively determinable.

(3) A description of collateral as “all the debtor’s assets” or “all the debtor’s personal property” or using words of similar import does not reasonably identify the collateral.

(4) Except as otherwise provided in subsection (5) of this section, a description of a security entitlement, securities account or commodity account is sufficient if it describes:

(a) The collateral by those terms or as investment property; or

(b) The underlying financial asset or commodity contract.

(5) A description only by type of collateral defined in the Uniform Commercial Code is an insufficient description of:

(a) A commercial tort claim; or

(b) In a consumer transaction, consumer goods, a security entitlement, a securities account or a commodity account. [2001 c.445 §8]

Source: Section 79.0108 — UCC 9-108. Sufficiency of description , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 83.850 — OR Code / Title 8 / Chapter 83 / Section 83.850
83.850 Definitions for ORS 83.850 and 83.860
Status: in_force

As used in ORS 83.850 (Definitions for ORS 83.850 and 83.860) and 83.860 (Applicability of claims and defenses of borrower or lessee when loan made or lease funded in close connection with sale or retail lease) :

(1) “Financing agency,” “motor vehicle dealer,” “retail lease,” “retail lessee” and “retail lessor” have the meanings given those terms in ORS 83.510 (Definitions for ORS 83.510 to 83.680) .

(2) “Goods” has the meaning for that term provided in ORS 83.010 (Definitions for ORS 83.010 to 83.190) .

(3) “Motor vehicle” means a motor vehicle as defined in ORS 83.510 (Definitions for ORS 83.510 to 83.680) purchased primarily for personal, family or household purposes and not primarily for business or commercial purposes.

(4) A loan is made “in close connection with a sale of goods or motor vehicles” if:

(a) The lender directly or indirectly controls, is controlled by or is under common control with the seller or motor vehicle dealer, unless the relationship is remote and is not a factor in the transaction;

(b) The lender gives a commission, rebate or credit in any form to a seller or motor vehicle dealer who refers the borrower to the lender, other than payment of the proceeds of the loan jointly to the seller or motor vehicle dealer and the borrower;

(c) The lender is related to the seller or motor vehicle dealer by blood or marriage;

(d) The seller or motor vehicle dealer directly and materially assists the buyer in obtaining the loan;

(e) The seller or motor vehicle dealer prepares documents that are given to the lender and used in connection with the loan; or

(f) The lender supplies documents to the seller or motor vehicle dealer used by the consumer in obtaining the loan.

(5) A lease is made or funded “in close connection with a retail lease of a motor vehicle” if:

(a) The retail lessor or financing agency directly or indirectly controls, is controlled by or is under common control of the motor vehicle dealer supplying the vehicle to the retail lessee, unless the relationship is remote and is not a factor in the transaction;

(b) The retail lessor or financing agency gives a commission, rebate, financing reserve or credit in any form to a motor vehicle dealer who refers the retail lessee to the retail lessor or financing agency, other than payment of the proceeds of the lease;

(c) The retail lessor or financing agency is related to the motor vehicle dealer by blood or marriage;

(d) The motor vehicle dealer directly or materially assists the retail lessee in obtaining the lease;

(e) The motor vehicle dealer prepares documents that are given to the retail lessor or financing agency and used in connection with the lease; or

(f) The retail lessor or financing agency supplies documents to the motor vehicle dealer used by the retail lessee in obtaining the lease.

(6) Credit extended pursuant to a credit card issued by a lender is not a loan “in close connection with a sale of goods or motor vehicles” or a loan “in close connection with a retail lease of a motor vehicle” unless the credit card is issued contemporaneously with the extension of the credit. [1973 c.626 §1; 2001 c.117 §3]

Source: Section 83.850 — Definitions for ORS 83.850 and 83.860 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors083.­html (accessed May 26, 2025).
ORS § 78.3070 — OR Code / Title 8 / Chapter 78 / Section 78.3070
78.3070 Purchaser’s rights to requisites for registration of transfer
Status: in_force

Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need not comply unless the purchaser pays the necessary expenses. If the transferor fails within a reasonable time to comply with the demand, the purchaser may reject or rescind the transfer. [1961 c.726 § 78.3070 (Purchaser’s rights to requisites for registration of transfer) ; 1985 c.676 § 78.3070 (Purchaser’s rights to requisites for registration of transfer) ; 1995 c.328 §33]

Source: Section 78.3070 — Purchaser’s rights to requisites for registration of transfer , https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html (accessed May 26, 2025).
ORS § 72a.2120 — OR Code / Title 8 / Chapter 72a / Section 72a.2120
72A.2120 Implied warranty of merchantability
Status: in_force

(1) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind.

(2) Goods to be merchantable must at least:

(a) Pass without objection in the trade under the description in the lease agreement;

(b) In the case of fungible goods, be of fair average quality within the description;

(c) Be fit for the ordinary purposes for which goods of that type are used;

(d) Run, within the variation permitted by the lease agreement, of even kind, quality and quantity within each unit and among all units involved;

(e) Be adequately contained, packaged and labeled as the lease agreement may require; and

(f) Conform to any promises or affirmations of fact made on the container or label.

(3) Other implied warranties may arise from course of dealing or usage of trade. [1989 c.676 §21]

Source: Section 72A.2120 — Implied warranty of merchantability , https://www.­oregonlegislature.­gov/bills_laws/ors/ors72A.­html (accessed May 26, 2025).
ORS § 79.0341 — OR Code / Title 8 / Chapter 79 / Section 79.0341
79.0341 UCC 9-341. Bank’s rights and duties with respect to deposit account
Status: in_force

Except as otherwise provided in ORS 79.0340 (UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account) (3), and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:

(1) The creation, attachment or perfection of a security interest in the deposit account;

(2) The bank’s knowledge of the security interest; or

(3) The bank’s receipt of instructions from the secured party. [2001 c.445 §61]

Source: Section 79.0341 — UCC 9-341. Bank’s rights and duties with respect to deposit account , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 77.1040 — OR Code / Title 8 / Chapter 77 / Section 77.1040
77.1040 Negotiable and nonnegotiable document of title
Status: in_force

(1) Except as otherwise provided in subsection (3) of this section, a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person.

(2) A document of title other than one described in subsection (1) of this section is nonnegotiable. A bill of lading that states that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against an order in a record signed by the same or another named person.

(3) A document of title is nonnegotiable if, at the time it is issued, the document has a conspicuous legend, however expressed, that it is nonnegotiable. [1961 c.726 § 77.1040 (Negotiable and nonnegotiable document of title) ; 2009 c.181 §52]

Source: Section 77.1040 — Negotiable and nonnegotiable document of title , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).
ORS § 72.7220 — OR Code / Title 8 / Chapter 72 / Section 72.7220
72.7220 Who can sue third parties for injury to goods
Status: in_force

Where a third party so deals with goods which have been identified to a contract for sale as to cause actionable injury to a party to that contract:

(1) A right of action against the third party is in either party to the contract for sale who has title to or a security interest or a special property or an insurable interest in the goods; and if the goods have been destroyed or converted a right of action is also in the party who either bore the risk of loss under the contract for sale or has since the injury assumed that risk as against the other.

(2) If at the time of the injury the party plaintiff did not bear the risk of loss as against the other party to the contract for sale and there is no arrangement between them for disposition of the recovery, the suit or settlement of the party plaintiff is, subject to the interest of the party plaintiff, as a fiduciary for the other party to the contract.

(3) Either party may with the consent of the other sue for the benefit of whom it may concern. [1961 c.726 § 72.7220 (Who can sue third parties for injury to goods) ]

Source: Section 72.7220 — Who can sue third parties for injury to goods , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 74.3030 — OR Code / Title 8 / Chapter 74 / Section 74.3030
74.3030 When items subject to notice, stop payment order, legal process or setoff
Status: in_force

(1) Any knowledge, notice or stop payment order received by, legal process served upon, or setoff exercised by a payor bank comes too late to terminate, suspend or modify the bank’s right or duty to pay an item or to charge its customer’s account for the item if the knowledge, notice, stop payment order or legal process is received or served and a reasonable time for the bank to act thereon expires or the setoff is exercised after the earliest of the following:

(a) The bank accepts or certifies the item;

(b) The bank pays the item in cash;

(c) The bank settles for the item without having a right to revoke the settlement under statute, clearing house rule or agreement;

(d) The bank becomes accountable for the amount of the item under ORS 74.3020 (Payor bank’s responsibility for late return of item) dealing with the payor bank’s responsibility for late return of items; or

(e) With respect to checks, a cutoff hour no earlier than one hour after the opening of the next banking day after the banking day on which the bank received the check and no later than the close of that next banking day or, if no cutoff hour is fixed, the close of the next banking day after the banking day on which the bank received the check.

(2) Subject to subsection (1) of this section items may be accepted, paid, certified or charged to the indicated account of its customer in any order. [1961 c.726 § 74.3030 (When items subject to notice, stop payment order, legal process or setoff) ; 1993 c.545 §103]

Source: Section 74.3030 — When items subject to notice, stop payment order, legal process or setoff; order in which items may be charged or certified; cutoff hour for checks , https://www.­oregonlegislature.­gov/bills_laws/ors/ors074.­html (accessed May 26, 2025).
ORS § 77.1050 — OR Code / Title 8 / Chapter 77 / Section 77.1050
77.1050 Reissuance in alternative medium
Status: in_force

(1) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if:

(a) The person entitled under the electronic document surrenders control of the document to the issuer; and

(b) The tangible document when issued contains a statement that it is issued in substitution for the electronic document.

(2) Upon issuance of a tangible document of title in substitution for an electronic document of title in accordance with subsection (1) of this section:

(a) The electronic document ceases to have any effect or validity; and

(b) The person that procured issuance of the tangible document warrants to all subsequent persons entitled under the tangible document that the warrantor was a person entitled under the electronic document when the warrantor surrendered control of the electronic document to the issuer.

(3) Upon request of a person entitled under a tangible document of title, the issuer of the tangible document may issue an electronic document of title as a substitute for the tangible document if:

(a) The person entitled under the tangible document surrenders possession of the document to the issuer; and

(b) The electronic document when issued contains a statement that it is issued in substitution for the tangible document.

(4) Upon issuance of an electronic document of title in substitution for a tangible document of title in accordance with subsection (3) of this section:

(a) The tangible document ceases to have any effect or validity; and

(b) The person that procured issuance of the electronic document warrants to all subsequent persons entitled under the electronic document that the warrantor was a person entitled under the tangible document when the warrantor surrendered possession of the tangible document to the issuer. [1961 c.726 § 77.1050 (Reissuance in alternative medium) ; 2009 c.181 §53]

Source: Section 77.1050 — Reissuance in alternative medium , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).
ORS § 84.052 — OR Code / Title 8 / Chapter 84 / Section 84.052
84.052 Acceptance and distribution of electronic records by governmental agencies
Status: in_force

(1) Except as otherwise provided in ORS 84.034 (Retention of electronic records) (6), each governmental agency of this state shall determine whether, and the extent to which, it will send and accept electronic records and electronic signatures to and from other persons and otherwise create, generate, communicate, store, process, use and rely upon electronic records and electronic signatures.

(2) To the extent that a governmental agency uses electronic records and electronic signatures under subsection (1) of this section, the governmental agency, giving due consideration to security, may specify:

(a) The manner and format in which the electronic records must be created, generated, sent, communicated, received and stored and the systems established for those purposes;

(b) If electronic records must be signed by electronic means, the type of electronic signature required, the manner and format in which the electronic signature must be affixed to the electronic record and the identity of, or criteria that must be met by, any third party used by a person filing a document to facilitate the process;

(c) Control processes and procedures as appropriate to ensure adequate preservation, disposition, integrity, security, confidentiality and auditability of electronic records; and

(d) Any other required attributes for electronic records that are specified for corresponding nonelectronic records or reasonably necessary under the circumstances.

(3) Except as otherwise provided in ORS 84.034 (Retention of electronic records) (6), ORS 84.001 (Short title) to 84.061 (Federal electronic signatures law partially superseded) do not require a governmental agency of this state to use or permit the use of electronic records or electronic signatures. [2001 c.535 §18]

Source: Section 84.052 — Acceptance and distribution of electronic records by governmental agencies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors084.­html (accessed May 26, 2025).
ORS § 72.3210 — OR Code / Title 8 / Chapter 72 / Section 72.3210
72.3210 C.I.F. or C. and F.: “net landed weights”
Status: in_force

Under a contract containing a term C.I.F. or C. and F.:

(1) Where the price is based on or is to be adjusted according to “net landed weights”, “delivered weights,” “out turn” quantity or quality or the like, unless otherwise agreed the seller must reasonably estimate the price. The payment due on tender of the documents called for by the contract is the amount so estimated, but after final adjustment of the price a settlement must be made with commercial promptness.

(2) An agreement described in subsection (1) of this section or any warranty of quality or condition of the goods on arrival places upon the seller the risk of ordinary deterioration, shrinkage and the like in transportation but has no effect on the place or time of identification to the contract for sale or delivery or on the passing of the risk of loss.

(3) Unless otherwise agreed where the contract provides for payment on or after arrival of the goods the seller must before payment allow such preliminary inspection as is feasible; but if the goods are lost delivery of the documents and payment are due when the goods should have arrived. [1961 c.726 § 72.3210 (C.I.F. or C. and F.: “net landed weights”) ]

Source: Section 72.3210 — C.I.F. or C. and F.: “net landed weights”; “payment on arrival”; warranty of condition on arrival , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 72.8010 — OR Code / Title 8 / Chapter 72 / Section 72.8010
72.8010 Definitions for ORS 72.8010 to 72.8200
Status: in_force

As used in ORS 72.8010 (Definitions for ORS 72.8010 to 72.8200) to 72.8200 (Operative dates) , unless the context requires otherwise:

(1) “Consumer good” means a new consumer good as defined in ORS 79.0102 (UCC 9-102. Definitions and index of definitions) and includes, but is not limited to, a new motor vehicle, new manufactured dwelling, new modular home, new machine, new appliance or new like product used or bought for use primarily for personal family or household purposes. However, “consumer good” does not include a soft good or a consumable.

(2) “Buyer” or “retail buyer” means any person who buys a consumer good from a person engaged in the business of manufacturing, distributing or selling consumer goods at retail.

(3) “Manufacturer” means any person who manufactures, assembles or produces consumer goods.

(4) “Distributor” means any person who stands between the manufacturer and the retail seller in purchases, consignments or contracts for sale of consumer goods.

(5) “Retail seller,” “seller” or “retailer” means a person who engages in the business of selling consumer goods to retail buyers.

(6) “Soft good” means any pliable product substantially composed of woven material, natural or synthetic yarn or fiber, textile or similar product.

(7) “Consumable” means any product which is intended for consumption by individuals, or use by individuals for purposes of personal care or in the performance of services ordinarily rendered within the household, and which usually is consumed or expended in the course of such consumption or use.

(8) “Implied warranty of merchantability” of a consumer good or “implied warranty that a consumer good is merchantable” is a warranty that the consumer good:

(a) Passes without objection in the trade under the contract description;

(b) Is fit for the ordinary purposes for which the good is used;

(c) Is adequately contained, packaged and labeled; and

(d) Conforms to the promises or affirmations of fact made on the container or label.

(9) “Implied warranty of fitness” means that when the retailer, distributor or manufacturer has reason to know any particular purpose for which the consumer good is required, and further, that the buyer is relying on the skill and judgment of the seller to select and furnish a suitable good, then there is an implied warranty that the good shall be fit for such purpose. [1973 c.413 §1; 2001 c.445 §140]

Note: 72.8010 (Definitions for ORS 72.8010 to 72.8200) to 72.8200 (Operative dates) were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 72 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 72.8010 — Definitions for ORS 72.8010 to 72.8200 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 71.3050 — OR Code / Title 8 / Chapter 71 / Section 71.3050
71.3050 Remedies to be liberally administered
Status: in_force

(1) The remedies provided by the Uniform Commercial Code must be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed but consequential damages, special damages or penal damages may not be had except as specifically provided in the Uniform Commercial Code or by other rule of law.

(2) Any right or obligation declared by the Uniform Commercial Code is enforceable by action unless the provision declaring the right or obligation specifies a different and limited effect. [2009 c.181 §18]

Note: See note under 71.3010 (Territorial applicability) .

Source: Section 71.3050 — Remedies to be liberally administered , https://www.­oregonlegislature.­gov/bills_laws/ors/ors071.­html (accessed May 26, 2025).
ORS § 72.7190 — OR Code / Title 8 / Chapter 72 / Section 72.7190
72.7190 Contractual modification or limitation of remedy
Status: in_force

(1) Subject to the provisions of subsections (2) and (3) of this section and of ORS 72.7180 (Liquidation or limitation of damages) on liquidation and limitation of damages:

(a) The agreement may provide for remedies in addition to or in substitution for those provided in this chapter and may limit or alter the measure of damages recoverable under this chapter, as by limiting the buyer’s remedies to return of the goods and repayment of the price or to repair and replacement of nonconforming goods or parts; and

(b) Resort to a remedy as provided is optional unless the remedy is expressly agreed to be exclusive, in which case it is the sole remedy.

(2) Where circumstances cause an exclusive or limited remedy to fail of its essential purpose, remedy may be had as provided in the Uniform Commercial Code.

(3) Consequential damages may be limited or excluded unless the limitation or exclusion is unconscionable. Limitation of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable but limitation of damages where the loss is commercial is not. [1961 c.726 § 72.7190 (Contractual modification or limitation of remedy) ]

Source: Section 72.7190 — Contractual modification or limitation of remedy , https://www.­oregonlegislature.­gov/bills_laws/ors/ors072.­html (accessed May 26, 2025).
ORS § 73.0117 — OR Code / Title 8 / Chapter 73 / Section 73.0117
73.0117 Other agreements affecting instrument
Status: in_force

Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented or nullified by a separate agreement of the obligor and a person entitled to enforce the instrument, if the instrument is issued or the obligation is incurred in reliance on the agreement or as part of the same transaction giving rise to the agreement. To the extent an obligation is modified, supplemented or nullified by an agreement under this section, the agreement is a defense to the obligation. [1993 c.545 §20]

Source: Section 73.0117 — Other agreements affecting instrument , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 79.0303 — OR Code / Title 8 / Chapter 79 / Section 79.0303
79.0303 UCC 9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title
Status: in_force

(1) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor.

(2) Goods become covered by a certificate of title when a valid application for the certificate of title and the applicable fee are delivered to the appropriate authority. Goods cease to be covered by a certificate of title at the earlier of the time the certificate of title ceases to be effective under the law of the issuing jurisdiction or the time the goods become covered subsequently by a certificate of title issued by another jurisdiction.

(3) The local law of the jurisdiction under whose certificate of title the goods are covered governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in goods covered by a certificate of title from the time the goods become covered by the certificate of title until the goods cease to be covered by the certificate of title. [2001 c.445 §23]

Source: Section 79.0303 — UCC 9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 73.0419 — OR Code / Title 8 / Chapter 73 / Section 73.0419
73.0419 Instruments signed for accommodation
Status: in_force

(1) If an instrument is issued for value given for the benefit of a party to the instrument (“accommodated party”) and another party to the instrument (“accommodation party”) signs the instrument for the purpose of incurring liability on the instrument without being a direct beneficiary of the value given for the instrument, the instrument is signed by the accommodation party “for accommodation.”

(2) An accommodation party may sign the instrument as maker, drawer, acceptor or indorser and, subject to subsection (4) of this section, is obliged to pay the instrument in the capacity in which the accommodation party signs. The obligation of an accommodation party may be enforced notwithstanding any statute of frauds and whether or not the accommodation party receives consideration for the accommodation.

(3) A person signing an instrument is presumed to be an accommodation party and there is notice that the instrument is signed for accommodation if the signature is an anomalous indorsement or is accompanied by words indicating that the signer is acting as surety or guarantor with respect to the obligation of another party to the instrument. Except as provided in ORS 73.0605 (Discharge of indorsers and accommodation parties) , the obligation of an accommodation party to pay the instrument is not affected by the fact that the person enforcing the obligation had notice when the instrument was taken by that person that the accommodation party signed the instrument for accommodation.

(4) If the signature of a party to an instrument is accompanied by words indicating unambiguously that the party is guaranteeing collection rather than payment of the obligation of another party to the instrument, the signer is obliged to pay the amount due on the instrument to a person entitled to enforce the instrument only if:

(a) Execution of judgment against the other party has been returned unsatisfied;

(b) The other party is insolvent or in an insolvency proceeding;

(c) The other party cannot be served with process; or

(d) It is otherwise apparent that payment cannot be obtained from the other party.

(5) An accommodation party who pays the instrument is entitled to reimbursement from the accommodated party and is entitled to enforce the instrument against the accommodated party. An accommodated party who pays the instrument has no right of recourse against, and is not entitled to contribution from, an accommodation party. [1993 c.545 §60]

Source: Section 73.0419 — Instruments signed for accommodation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 74.2150 — OR Code / Title 8 / Chapter 74 / Section 74.2150
74.2150 Final payment of item by payor bank
Status: in_force

(1) An item is finally paid by a payor bank when the bank has first done any of the following:

(a) Paid the item in cash;

(b) Settled for the item without having a right to revoke the settlement under statute, clearing house rule or agreement; or

(c) Made a provisional settlement for the item and failed to revoke the settlement in the time and manner permitted by statute, clearing house rule or agreement.

(2) If provisional settlement for an item does not become final, the item is not finally paid.

(3) If provisional settlement for an item between the presenting and payor banks is made through a clearing house or by debits or credits in an account between them, then to the extent that provisional debits or credits for the item are entered in accounts between the presenting and payor banks or between the presenting and successive prior collecting banks seriatim, they become final upon final payment of the items by the payor bank.

(4) If a collecting bank receives a settlement for an item which is or becomes final, the bank is accountable to its customer for the amount of the item and any provisional credit given for the item in an account with its customer becomes final.

(5) Subject to applicable law stating a time for availability of funds and any right of the bank to apply the credit to an obligation of the customer, credit given by a bank for an item in a customer’s account becomes available for withdrawal as of right:

(a) If the bank has received a provisional settlement for the item, when the settlement becomes final and the bank has had a reasonable time to receive return of the item and the item has not been received within that time; or

(b) If the bank is both the depositary bank and the payor bank, and the item is finally paid, at the opening of the bank’s second banking day following receipt of the item.

(6) Subject to applicable law stating a time for availability of funds and any right of a bank to apply a deposit to an obligation of the depositor, a deposit of money becomes available for withdrawal as of right at the opening of the bank’s next banking day after receipt of the deposit. [1993 c.545 §99]

Source: Section 74.2150 — Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal , https://www.­oregonlegislature.­gov/bills_laws/ors/ors074.­html (accessed May 26, 2025).
ORS § 84.014 — OR Code / Title 8 / Chapter 84 / Section 84.014
84.014 Consent for conducting transaction with governmental agency
Status: in_force

Notwithstanding the provisions of ORS 84.013 (Use of electronic records and electronic signatures) , a governmental agency does not require an individual’s agreement or consent to conduct a transaction by electronic means or create or retain an electronic record of a transaction if the governmental agency conducts transactions by electronic means or creates, sends, accepts, generates, communicates, stores, processes, uses or relies on electronic records of transactions regularly and in the course of the governmental agency’s ordinary business. [2011 c.39 §2]

Source: Section 84.014 — Consent for conducting transaction with governmental agency , https://www.­oregonlegislature.­gov/bills_laws/ors/ors084.­html (accessed May 26, 2025).
ORS § 78.2090 — OR Code / Title 8 / Chapter 78 / Section 78.2090
78.2090 Issuer’s lien
Status: in_force

A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate. [1995 c.328 §25]

Source: Section 78.2090 — Issuer’s lien , https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html (accessed May 26, 2025).
ORS § 77.5020 — OR Code / Title 8 / Chapter 77 / Section 77.5020
77.5020 Rights acquired by due negotiation
Status: in_force

(1) Subject to ORS 77.2050 (Title under warehouse receipt defeated in certain cases) and 77.5030 (Document of title to goods defeated in certain cases) , a holder to which a negotiable document of title has been duly negotiated acquires thereby:

(a) Title to the document;

(b) Title to the goods;

(c) All rights accruing under the law of agency or estoppel, including rights to goods delivered to the bailee after the document was issued; and

(d) The direct obligation of the issuer to hold or deliver the goods according to the terms of the document free of any defense or claim by the issuer except those arising under the terms of the document or under this chapter, but in the case of a delivery order the bailee’s obligation accrues only upon the bailee’s acceptance of the delivery order and the obligation acquired by the holder is that the issuer and any indorser will procure the acceptance of the bailee.

(2) Subject to ORS 77.5030 (Document of title to goods defeated in certain cases) , title and rights acquired by due negotiation are not defeated by any stoppage of the goods represented by the document of title or by surrender of the goods by the bailee and are not impaired even if:

(a) The due negotiation or any prior due negotiation constituted a breach of duty;

(b) Any person has been deprived of possession of a negotiable tangible document or control of a negotiable electronic document by misrepresentation, fraud, accident, mistake, duress, loss, theft or conversion; or

(c) A previous sale or other transfer of the goods or document has been made to a third person. [1961 c.726 § 77.5020 (Rights acquired by due negotiation) ; 2009 c.181 §78]

Source: Section 77.5020 — Rights acquired by due negotiation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).
ORS § 74.1050 — OR Code / Title 8 / Chapter 74 / Section 74.1050
74.1050 “Bank”
Status: in_force

In this chapter:

(1) “Bank” means a financial institution, as defined in ORS 706.008 (Additional definitions for Bank Act) .

(2) “Depositary bank” means the first bank to take an item even though it is also the payor bank unless the item is presented for immediate payment over the counter.

(3) “Payor bank” means a bank that is the drawee of a draft.

(4) “Intermediary bank” means a bank to which an item is transferred in course of collection except the depositary or payor bank.

(5) “Collecting bank” means a bank handling an item for collection except the payor bank.

(6) “Presenting bank” means a bank presenting an item except a payor bank. [1961 c.726 § 74.1050 (“Bank”) ; 1993 c.545 §76; 1997 c.631 §380]

Source: Section 74.1050 — “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.” , https://www.­oregonlegislature.­gov/bills_laws/ors/ors074.­html (accessed May 26, 2025).
ORS § 79.0338 — OR Code / Title 8 / Chapter 79 / Section 79.0338
79.0338 UCC 9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
Status: in_force

Except for information on the jurisdiction of organization for an organization that is not a registered organization, if a security interest or agricultural lien is perfected by a filed financing statement providing information described in ORS 79.0516 (UCC 9-516. What constitutes filing) (2)(e) which is incorrect at the time the financing statement is filed:

(1) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and

(2) A purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments or a security certificate, receives delivery of the collateral. [2001 c.445 §58; 2009 c.181 §101]

Source: Section 79.0338 — UCC 9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 79.0627 — OR Code / Title 8 / Chapter 79 / Section 79.0627
79.0627 UCC 9-627. Determination of whether conduct was commercially reasonable
Status: in_force

(1) The fact that a greater amount could have been obtained by a collection, enforcement, disposition or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition or acceptance was made in a commercially reasonable manner.

(2) A disposition of collateral is made in a commercially reasonable manner if the disposition is made:

(a) In the usual manner on any recognized market;

(b) At the price current in any recognized market at the time of the disposition; or

(c) Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.

(3) A collection, enforcement, disposition or acceptance is commercially reasonable if it has been approved:

(a) In a judicial proceeding;

(b) By a bona fide creditors’ committee;

(c) By a representative of creditors; or

(d) By an assignee for the benefit of creditors.

(4) Approval under subsection (3) of this section need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition or acceptance is not commercially reasonable. [2001 c.445 §125]

Source: Section 79.0627 — UCC 9-627. Determination of whether conduct was commercially reasonable , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 74a.2110 — OR Code / Title 8 / Chapter 74a / Section 74a.2110
74A.2110 Cancellation and amendment of payment order
Status: in_force

(1) A communication of the sender of a payment order canceling or amending the order may be transmitted to the receiving bank orally, electronically or in writing. If a security procedure is in effect between the sender and the receiving bank, the communication is not effective to cancel or amend the order unless the communication is verified pursuant to the security procedure or the bank agrees to the cancellation or amendment.

(2) Subject to subsection (1) of this section, a communication by the sender canceling or amending a payment order is effective to cancel or amend the order if notice of the communication is received at a time and in a manner affording the receiving bank a reasonable opportunity to act on the communication before the bank accepts the payment order.

(3) After a payment order has been accepted, cancellation or amendment of the order is not effective unless the receiving bank agrees or a funds-transfer system rule allows cancellation or amendment without agreement of the bank. The following apply:

(a) With respect to a payment order accepted by a receiving bank other than the beneficiary’s bank, cancellation or amendment is not effective unless a conforming cancellation or amendment of the payment order issued by the receiving bank is also made.

(b) With respect to a payment order accepted by the beneficiary’s bank, cancellation or amendment is not effective unless the order was issued in execution of an unauthorized payment order, or because of a mistake by a sender in the funds transfer which resulted in the issuance of a payment order that is a duplicate of a payment order previously issued by the sender, that orders payment to a beneficiary not entitled to receive payment from the originator or that orders payment in an amount greater than the amount the beneficiary was entitled to receive from the originator. If the payment order is canceled or amended, the beneficiary’s bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution.

(4) An unaccepted payment order is canceled by operation of law at the close of the fifth funds-transfer business day of the receiving bank after the execution date or payment date of the order.

(5) A canceled payment order cannot be accepted. If an accepted payment order is canceled, the acceptance is nullified and no person has any right or obligation based on the acceptance. Amendment of a payment order is deemed to be cancellation of the original order at the time of amendment and issue of a new payment order in the amended form at the same time.

(6) Unless otherwise provided in an agreement of the parties or in a funds-transfer system rule, if the receiving bank, after accepting a payment order, agrees to cancellation or amendment of the order by the sender or is bound by a funds-transfer system rule allowing cancellation or amendment without the bank’s agreement, the sender, whether or not cancellation or amendment is effective, is liable to the bank for any loss and expenses, including reasonable attorney fees, incurred by the bank as a result of the cancellation or amendment or attempted cancellation or amendment.

(7) A payment order is not revoked by the death or legal incapacity of the sender unless the receiving bank knows of the death or of an adjudication of incapacity by a court of competent jurisdiction and has reasonable opportunity to act before acceptance of the order.

(8) A funds-transfer system rule is not effective to the extent it conflicts with subsection (3)(b) of this section. [1991 c.442 §19]

Source: Section 74A.2110 — Cancellation and amendment of payment order , https://www.­oregonlegislature.­gov/bills_laws/ors/ors74A.­html (accessed May 26, 2025).
ORS § 83.890 — OR Code / Title 8 / Chapter 83 / Section 83.890
83.890 Notice required in contract when seller intends to transfer contract
Status: in_force

(1) If the seller intends to transfer the retail installment contract to a holder, who has agreed with the seller to collect payments directly from the retail buyer, the contract shall contain the following notice which shall be in at least 8-point type, or elite typewriter type, and be located on the same side of the page as the customer’s signature:

NOTICE: The seller intends to sell this contract to (insert name and mailing address of holder) which, if it buys the contract, will become the owner of the contract and your creditor. After the sale of this contract, all questions concerning either terms of the contract or payments should be directed to the buyer of the contract at the address indicated above.

(2) If the contract is transferred to a holder other than the one identified in the notice, or is retained by the seller, the seller shall cause notice in writing of the name and address of the actual holder to be delivered to the retail buyer within 10 days of the decision. [1977 c.274 §3]

Source: Section 83.890 — Notice required in contract when seller intends to transfer contract , https://www.­oregonlegislature.­gov/bills_laws/ors/ors083.­html (accessed May 26, 2025).
ORS § 79.0340 — OR Code / Title 8 / Chapter 79 / Section 79.0340
79.0340 UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account
Status: in_force

(1) Except as otherwise provided in subsection (3) of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account.

(2) Except as otherwise provided in subsection (3) of this section, the application of this chapter to a security interest in a deposit account does not affect a right of recoupment or setoff of the secured party as to a deposit account maintained with the secured party.

(3) The exercise by a bank of a setoff against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under ORS 79.0104 (UCC 9-104. Control of deposit account) (1)(c), if the setoff is based on a claim against the debtor. [2001 c.445 §60]

Source: Section 79.0340 — UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 73.0409 — OR Code / Title 8 / Chapter 73 / Section 73.0409
73.0409 Acceptance of draft
Status: in_force

(1) “Acceptance” means the drawee’s signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee’s signature alone. Acceptance may be made at any time and becomes effective when notification pursuant to instructions is given or the accepted draft is delivered for the purpose of giving rights on the acceptance to any person.

(2) A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete or has been dishonored.

(3) If a draft is payable at a fixed period after sight and the acceptor fails to date the acceptance, the holder may complete the acceptance by supplying a date in good faith.

(4) “Certified check” means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection (1) of this section or by a writing on the check that indicates that the check is certified. The drawee of a check has no obligation to certify the check and refusal to certify is not dishonor of the check. [1993 c.545 §50]

Source: Section 73.0409 — Acceptance of draft; certified check , https://www.­oregonlegislature.­gov/bills_laws/ors/ors073.­html (accessed May 26, 2025).
ORS § 74.4030 — OR Code / Title 8 / Chapter 74 / Section 74.4030
74.4030 Customer’s right to stop payment
Status: in_force

(1) A customer or any person authorized to draw on the account if there is more than one person may stop payment of any item drawn on the customer’s account or close the account by an order to the bank describing the item or account with reasonable certainty received at a time and in a manner that affords the bank a reasonable opportunity to act on it before any action by the bank with respect to the item described in ORS 74.3030 (When items subject to notice, stop payment order, legal process or setoff) . If the signature of more than one person is required to draw on an account, any of these persons may stop payment or close the account.

(2) A stop payment order is effective for six months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in writing within that period. A stop payment order may be renewed for additional six-month periods by a writing given to the bank within a period during which the stop payment order is effective.

(3) The burden of establishing the fact and amount of loss resulting from the payment of an item contrary to a stop payment order or order to close an account is on the customer. The loss from payment of an item contrary to a stop payment order may include damages for dishonor of subsequent items under ORS 74.4020 (Bank’s liability to customer for wrongful dishonor) . [1961 c.726 § 74.4030 (Customer’s right to stop payment) ; 1993 c.545 §106]

Source: Section 74.4030 — Customer’s right to stop payment; duration of stop payment order; burden of proof of loss , https://www.­oregonlegislature.­gov/bills_laws/ors/ors074.­html (accessed May 26, 2025).
ORS § 77.5050 — OR Code / Title 8 / Chapter 77 / Section 77.5050
77.5050 Indorser not a guarantor for other parties
Status: in_force

The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or by previous indorsers. [1961 c.726 § 77.5050 (Indorser not a guarantor for other parties) ; 2009 c.181 §81]

Source: Section 77.5050 — Indorser not a guarantor for other parties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).
ORS § 79.0332 — OR Code / Title 8 / Chapter 79 / Section 79.0332
79.0332 UCC 9-332. Transfer of money
Status: in_force

(1) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party.

(2) A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party. [2001 c.445 §52]

Source: Section 79.0332 — UCC 9-332. Transfer of money; transfer of funds from deposit account , https://www.­oregonlegislature.­gov/bills_laws/ors/ors079.­html (accessed May 26, 2025).
ORS § 77.5080 — OR Code / Title 8 / Chapter 77 / Section 77.5080
77.5080 Warranties of collecting bank as to documents
Status: in_force

A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected. [1961 c.726 § 77.5080 (Warranties of collecting bank as to documents) ; 2009 c.181 §84]

Source: Section 77.5080 — Warranties of collecting bank as to documents , https://www.­oregonlegislature.­gov/bills_laws/ors/ors077.­html (accessed May 26, 2025).