Oregon Statutes - Chapter 708A - Regulation of Institutions Generally - Section 708A.600 - Charging off bad debts.

An institution shall charge off all debts:

(1) On which interest is past due and unpaid for 12 months, unless the debt is fully secured and in process of collection;

(2) That are classified by an examiner as a bad debt; or

(3) Upon the instruction of the Director of the Department of Consumer and Business Services. [1997 c.631 §195]

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Last modified: August 7, 2008