Oregon § 708A.630 Negligent, excessive, dishonest or unlawful loans; civil liability of officer, director or employee

Oregon Statutes

§ 708A.630 — Negligent, excessive, dishonest or unlawful loans; civil liability of officer, director or employee

Oregon § 708A.630

Vol.18

Title 53Financial Institutions

Ch. 708ARegulation of Institutions Generally

This text of Oregon § 708A.630 (Negligent, excessive, dishonest or unlawful loans; civil liability of officer, director or employee) 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.630 (2026).

Text

Any officer, director or employee of an institution who knowingly or negligently loans the funds of the institution in a dishonest or unlawful manner or permits the funds of the institution to be so loaned, is liable for the full amount of the loan and for all damages that the institution, its stockholders or any other person has sustained in consequence thereof. The liability for the loan continues until the loan, with interest, is paid in full without loss to the institution. The amount of the liability may be collected by suit or action without first attempting to collect from the debtor.

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Any officer, director or employee of an institution who knowingly or negligently loans the funds of the institution in a dishonest or unlawful manner or permits the funds of the institution to be so loaned, is liable for the full amount of the loan and for all damages that the institution, its stockholders or any other person has sustained in consequence thereof. The liability for the loan continues until the loan, with interest, is paid in full without loss to the institution. The amount of the liability may be collected by suit or action without first attempting to collect from the debtor.