OAR 441-740-0016: Daily-Interest Computation

Edition: Current OARD snapshotEffective: 2008-11-13Last verified: 2026-09-07

Interest on a loan must be computed on a daily basis using a 365-day year. The maximum charge for each day shall be 1/365th of the annual rate when calculating the elapsed time of the loan.

Official history and status

Statutory/Other Authority: ORS 726.260

Statutes/Other Implemented: ORS 726.390

History: FCS 11-2008, f. & cert. ef. 11-13-08

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