Oregon Code § 327.440·Enacted ·Last updated March 01, 2026
Statute Text
Loan
repayment.
Secured
loans authorized by ORS 327.430 shall be repaid in semiannual, quarterly or
monthly installments, as may mutually be agreed upon between the borrower and
the Department of State Lands, and the installments shall aggregate each year
an amount equal to one years interest on the original principal of the loan
plus an additional two percent of the original principal sum, except as
provided in ORS 327.425. Of the installment so paid each year, the amount at
the specified interest rate on the principal remaining unpaid shall be credited
as interest and the balance credited to reduction of the loan principal.
Borrowers from the fund shall have the right to make payments in excess of the
amounts of such installments, and the further right at any time to pay off such
loans in part or full with interest to payment dates. [Amended by 1965 c.532 §7]
Plain English Explanation
This Oregon statute addresses Loan
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 327.440
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Loan
. Read the full statute text above for details.
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The formal citation is Oregon Code § 327.440. Use this format in legal documents and court filings.
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