Oregon Code § 743.374·Enacted ·Last updated March 01, 2026
Statute Text
Limits
on amount of credit life insurance.
(1) The initial amount of credit life insurance shall not exceed the total
amount repayable under the contract of indebtedness and, where an indebtedness
is repayable in substantially equal installments, the amount of insurance shall
at no time exceed the scheduled or actual amount of unpaid indebtedness,
whichever is greater.
(2)
Notwithstanding the provisions of subsection (1) of this section, insurance on
agricultural credit transaction commitments not exceeding 18 months in duration
may be written up to the amount of the loan commitment, on a nondecreasing or
level term plan.
(3)
Notwithstanding the provisions of subsection (1) of this section, insurance on
educational credit transaction commitments may include the portion of such
commitment that has not been advanced by the creditor. [Formerly 743.570]
Plain English Explanation
This Oregon statute addresses Limits
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 743.374
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Limits
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