Oregon Statutes - Chapter 708A - Regulation of Institutions Generally - Section 708A.260 - Accepting own stock as collateral.

An institution shall not accept as collateral its own capital stock, except where the taking of such collateral is necessary to prevent loss upon an indebtedness previously contracted in good faith. If such indebtedness is not paid in full within six months from the date such stock was taken as collateral, the stock shall be promptly sold by the institution. [1997 c.631 §140]

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Last modified: August 7, 2008