Oregon Code § 711.485·Enacted ·Last updated March 01, 2026
Statute Text
Borrowing funds to pay closed institution expenditures.
The Director of the Department of
Consumer and Business Services may, after the director has obtained the consent
of the supervising court, borrow funds from any source available to be used for
distribution among depositors or other creditors of the institution in the
process of liquidation, or for expense of liquidation or preservation of the
assets of the institution. To secure the loan, the director may pledge, on
terms fixed by the lender and agreed to by the director, all or any portion of
the assets of the institution. The director is not personally obligated to pay
the loans. [Amended by 1973 c.797 §263]
Plain English Explanation
This Oregon statute addresses Borrowing funds to pay closed institution expenditures. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 711.485
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Borrowing funds to pay closed institution expenditures. Read the full statute text above for details.
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