Oregon § 708A.310 Obligations of indorser of discounted commercial paper

Oregon Statutes

§ 708A.310 — Obligations of indorser of discounted commercial paper

Oregon § 708A.310

Vol.18

Title 53Financial Institutions

Ch. 708ARegulation of Institutions Generally

This text of Oregon § 708A.310 (Obligations of indorser of discounted commercial paper) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 708A.310 (2026).

Text

(1)In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person without regard to amount as an indorser, arising out of the discount of commercial or business paper owned by the person negotiating the paper.

(2)As used in this section, “commercial or business paper” means negotiable notes, drafts, acceptances or bills of exchange having a maturity of not more than six months, that have been given by one person to another in settlement of a commercial or business transaction involving the purchase of goods, and upon which both parties to the transaction are liable either as maker, drawer, acceptor or indorser.

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(1) In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person without regard to amount as an indorser, arising out of the discount of commercial or business paper owned by the person negotiating the paper.
(2) As used in this section, “commercial or business paper” means negotiable notes, drafts, acceptances or bills of exchange having a maturity of not more than six months, that have been given by one person to another in settlement of a commercial or business transaction involving the purchase of goods, and upon which both parties to the transaction are liable either as maker, drawer, acceptor or indorser.