Oregon Statutes - Chapter 722 - Savings Associations - Section 722.354 - Maximum loans to one person or on one property; interest.

(1) A savings association shall lend no more than five percent of its total assets on the security of one property or to one person. However, an association with assets under $500,000 may lend up to a maximum of $40,000 in loans on one property or to one person.

(2) ORS 708A.255 applies to interest or other charges a savings association or a federal association may contract for and receive for a loan or the use of money. [1975 c.582 §107; 1977 c.791 §5; 1981 c.412 §5; 1981 c.472 §19; 1997 c.631 §541]

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Last modified: August 7, 2008