Oregon Revised Statutes Chapter 725 § 725.355 — Prohibition against assignment of earnings for loan security
Oregon Revised Statutes Chapter 725 ·
Oregon Code § 725.355·Enacted ·Last updated March 01, 2026
Statute Text
Prohibition against assignment of earnings for loan security.
(1) As used in this section, earnings
means salary, wages or other compensation for service.
(2) No licensee
shall take an assignment of earnings as payment of or as security for payment
of a loan. An assignment in violation of this subsection is unenforceable by
the assignee and revocable by the assignor. Nothing in this subsection is
intended to prevent an employee from authorizing deductions from the earnings
of the employee if the authorization is revocable.
(3) For the
purpose of this section, a sale of unpaid earnings made in consideration of the
payment of money to or for the account of the seller of the earnings is
considered a loan to the seller, secured by an assignment of earnings. [1971
c.232 §3]
Plain English Explanation
This Oregon statute addresses Prohibition against assignment of earnings for loan security. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 725.355
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Prohibition against assignment of earnings for loan security. Read the full statute text above for details.
This page reflects the current text as of our last update. Always verify with the official Oregon legislature website for the most current version.
The formal citation is Oregon Code § 725.355. Use this format in legal documents and court filings.
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