Oregon Statutes - Chapter 708A - Regulation of Institutions Generally - Section 708A.460 - Application of ORS 708A.465 to 708A.475; liability and setoff rights of financial institutions.

The provisions of ORS 708A.465 to 708A.475 concerning beneficial ownership as between parties, or as between parties and P.O.D. payees or beneficiaries of multiple-party accounts, are relevant only to controversies between those persons and their creditors and other successors, and have no bearing on the power of withdrawal of those persons as determined by the terms of account contracts. The provisions of ORS 708A.485 to 708A.510 govern the liability of financial institutions that make payments pursuant thereto, and their setoff rights. [1997 c.631 §173]

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Last modified: August 7, 2008