OAR 441-730-0060: Loans Not to Be Payable on Demand; Exception

Edition: Current OARD snapshotEffective: 1978-07-01Last verified: 2026-09-07

(1) Except as provided by section (2) of this rule, a loan shall not be made payable on demand. (2) A loan may provide that, if there is a default under the note or collateral security agreement, the loan may become due and payable immediately or on demand.

Official history and status

Statutory/Other Authority: ORS 725

Statutes/Other Implemented: ORS 725.050

History: BB 3-1978, f. 5-16-78, ef. 7-1-78, Renumbered from 805-075-0040 BB 14-1976, f. & ef. 11-15-76

This rule cites

section (2) of this rule — target_record_not_published

Cited by

No inbound citations found.

Official source: https://secure.sos.state.or.us/oard/