OAR 441-735-0060: Loans Not to Be Payable on Demand; Exception

Edition: Current OARD snapshotEffective: 2012-07-23Last verified: 2026-09-07

(1) Except as provided by section (2) of this rule, a loan must 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 725A.092

Statutes/Other Implemented: ORS 725A.060

History: FCS 2-2012, f. & cert. ef. 7-23-12 FCS 7-2010, f. & cert. ef. 6-4-10

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/