Oregon Code § 78.1120·Enacted ·Last updated March 01, 2026
Statute Text
Creditors legal process.
(1) The interest of a debtor in a certificated security may be reached by a
creditor only by actual seizure of the security certificate by the officer
making the attachment or levy, except as otherwise provided in subsection (4)
of this section. However, a certificated security for which the certificate has
been surrendered to the issuer may be reached by a creditor by legal process
upon the issuer.
(2) The interest
of a debtor in an uncertificated security may be reached by a creditor only by
legal process upon the issuer at the issuers chief executive office in the
United States, except as otherwise provided in subsection (4) of this section.
(3) The interest
of a debtor in a security entitlement may be reached by a creditor only by
legal process upon the securities intermediary with whom the debtors
securities account is maintained, except as otherwise provided in subsection
(4) of this section.
(4) The interest
of a debtor in a certificated security for which the certificate is in the
possession of a secured party, in an uncertificated security registered in the
name of a secured party or in a security entitlement maintained in the name of
a secured party may be reached by a creditor by legal process upon the secured
party.
(5) A creditor
whose debtor is the owner of a certificated security, uncertificated security
or security entitlement is entitled to aid from a court of competent
jurisdiction, by injunction or otherwise, in reaching the certificated
security, uncertificated security or security entitlement or in satisfying the
claim by means allowed at law or in equity in regard to property that cannot
readily be reached by other legal process. [1995 c.328 §12]