Oregon Statutes
§ 711.485 — Borrowing funds to pay closed institution expenditures
Oregon § 711.485
JurisdictionOregon
Vol.18
Title 53Financial Institutions
Ch. 711Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency
This text of Oregon § 711.485 (Borrowing funds to pay closed institution expenditures) 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. § 711.485 (2026).
Text
The Director of the Department of Consumer and Business Services may, after the director has obtained the consent of the supervising court, borrow funds from any source available to be used for distribution among depositors or other creditors of the institution in the process of liquidation, or for expense of liquidation or preservation of the assets of the institution. To secure the loan, the director may pledge, on terms fixed by the lender and agreed to by the director, all or any portion of the assets of the institution. The director is not personally obligated to pay the loans.
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Legislative History
Amended by 1973 c.797 §263
Nearby Sections
15
Cite This Page — Counsel Stack
Bluebook (online)
Oregon § 711.485, Counsel Stack Legal Research, https://law.counselstack.com/statute/or/711.485.