A lender may require a lender’s security protection provision under ORS 86.205 to 86.275 either as a direct reduction provision, an escrow account, or a pledge of an interest-bearing savings account in an amount not to exceed the maximum amount which a lender may require a borrower to deposit in a lender’s security protection provision under ORS 86.240 and bearing interest at a rate not less than the rate required on lender’s security protection provisions by ORS 86.245. [1975 c.337 §2; 1987 c.577 §1]
Section: Previous 86.160 86.165 86.170 86.175 86.180 86.185 86.205 86.210 86.214 86.215 86.220 86.225 86.230 86.235 86.240 NextLast modified: August 7, 2008