Source: https://www.oregonlaws.org/ors/327.430
Timestamp: 2020-08-10 06:01:17
Document Index: 222421677

Matched Legal Cases: ['§1', '§1', '§1', '§6', '§1', '§6', '§11']

ORS 327.430 - Security for loans - 2020 Oregon Revised Statutes
2020 ORS Vol. 9 Chapter 327 Section 327.430
ORS 327.430¹
(2) Loans shall be secured by note specifying the fund from which the loan is made and mortgage to the Department of State Lands on improved land within this state, or upon range or grazing land therein. Except as provided in ORS 273.815 (Department’s powers), the security for a secured loan shall be not less than twice the value of the amount loaned, and, except as otherwise provided in subsection (3) of this section, shall be of unexceptional title and free from all encumbrances. A secured loan may be secured by a deposit of obligations of the United States or of bonds or warrants of this state of a face value of not less than 25 percent in excess of such loans.
(e) Subject to an easement. [Amended by 1955 c.352 §1; 1959 c.90 §1; 1963 c.326 §1; 1963 c.517 §6; 1965 c.229 §1; 1965 c.532 §6; 2015 c.513 §11]