Oregon Code § 407.285·Enacted ·Last updated March 01, 2026
Statute Text
Rate
of interest payable by certain transferees.
(1) Notwithstanding the repeal of section 5, chapter
11, Oregon Laws 1982 (first special session), during the term of a loan for
which the interest rate was initially fixed under section 5, chapter 11, Oregon
Laws 1982 (first special session), the Department of Veterans Affairs may
periodically prescribe the interest rate to be paid by the transferee. However,
the interest rate for such loans may not at any time be less than the rate
initially fixed under section 5, chapter 11, Oregon Laws 1982 (first special
session), nor exceed a rate per annum which is one percent higher than the rate
initially fixed under section 5, chapter 11, Oregon Laws 1982 (first special
session).
(2) The
department may prescribe the interest rate to be paid by the transferee at a
rate greater than the rate described in subsection (1) of this section, but
only to the extent necessary to avoid invoking the provisions of section 4,
Article XI-A of the Oregon Constitution. [1982 s.s.1 c.11 §7; 1987 c.221 §3;
2005 c.625 §33]
Plain English Explanation
This Oregon statute addresses Rate
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 407.285
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Rate
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