Oregon Statutes - Chapter 708A - Regulation of Institutions Generally - Section 708A.300 - Obligations secured by readily marketable collateral.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to or acquire other obligations of a person, not to exceed 10 percent of its capital, if:

(1) The loans or obligations are fully secured by readily marketable collateral having a market value that may be determined by reliable and continuously available price quotations;

(2) The market value is at least 15 percent greater than the amount of the obligation at the time it is incurred; and

(3) The market value is at all times while the obligation is outstanding at least 100 percent of the balance of principal, interest and other charges applicable to the obligation. [1997 c.631 §145]

Section:  Previous  708A.255  708A.260  708A.265  708A.270  708A.275  708A.290  708A.295  708A.300  708A.305  708A.310  708A.315  708A.320  708A.325  708A.330  708A.335  Next

Last modified: August 7, 2008