Oregon § 708A.440 Checks drawn by agents presumed to be in authorized manner

Oregon Statutes

§ 708A.440 — Checks drawn by agents presumed to be in authorized manner

Oregon § 708A.440

Vol.18

Title 53Financial Institutions

Ch. 708ARegulation of Institutions Generally

This text of Oregon § 708A.440 (Checks drawn by agents presumed to be in authorized manner) 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.440 (2026).

Text

If a person who owns a deposit account subject to check authorizes another person as agent to draw checks against the account, the insured institution, in the absence of written notice to the contrary, may presume that any check the agent draws in the manner that the terms and conditions of the account authorize, including a check the agent draws to the agent’s personal order, is for a purpose that the principal authorizes and is within the scope of the authority conferred upon the agent.

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If a person who owns a deposit account subject to check authorizes another person as agent to draw checks against the account, the insured institution, in the absence of written notice to the contrary, may presume that any check the agent draws in the manner that the terms and conditions of the account authorize, including a check the agent draws to the agent’s personal order, is for a purpose that the principal authorizes and is within the scope of the authority conferred upon the agent.