Oregon Statutes - Chapter 716 - Savings Banks - Section 716.574 - Purchase of real estate sale contract as loan; authority to acquire contracts.

(1) The purchase of a bona fide contract covering a sale of real estate is a loan on real estate within the meaning of ORS 716.552 to 716.574.

(2) A savings bank may acquire contracts covering a sale of real estate if all other requirements of ORS 716.552 to 716.574 are satisfied. [1973 c.797 §371i; 1985 c.554 §12]

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Last modified: August 7, 2008