(1) Notwithstanding ORS 725.370, a person that makes a payday loan or title loan is subject to this chapter if in the person’s capacity as a lender the person makes a loan to a consumer who resides in or maintains a domicile in this state and if the consumer:
(a) Negotiates or agrees to the terms of the loan in person, by mail, by telephone or via the Internet while physically present in this state;
(b) Enters into or executes a loan contract with the lender in person, by mail, by telephone or via the Internet while physically present in this state; or
(c) Makes a payment on the loan in this state.
(2) For purposes of this section, a consumer makes a payment on a loan in this state if a lender debits an account the consumer holds in a branch of a financial institution located in this state or if the consumer makes a payment with a negotiable instrument drawn on a branch of a financial institution located in this state. [2007 c.472 §4]
Section: Previous 725.390 725.395 725.400 725.410 725.505 725.510 725.600 725.602 725.605 725.610 725.615 725.620 725.622 725.624 725.625 NextLast modified: August 7, 2008