Oregon § 716.584 Limitations on single loans on real estate; exceptions

Oregon Statutes

§ 716.584 — Limitations on single loans on real estate; exceptions

Oregon § 716.584

Vol.18

Title 53Financial Institutions

Ch. 716Savings Banks

This text of Oregon § 716.584 (Limitations on single loans on real estate; exceptions) 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. § 716.584 (2026).

Text

(1)If deposits are less than $1 million, a single loan on real estate shall not exceed $10,000. When deposits exceed $1 million but are less than $2 million, a single loan on real estate shall not exceed two and one-half percent of the deposits. When deposits exceed $2 million, a single loan on real estate shall not exceed two percent of the savings bank’s deposit liability.

(2)A loan may exceed the limitations prescribed in subsection (1) of this section if the borrower furnishes the savings bank with a copy of an agreement entered into with a financially responsible person wherein the person agrees to refinance or repurchase, without recourse, the entire loan:

(a)Upon completion of the construction, if the loan is a construction loan; or

(b)Within six months from the date of the loan

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(1) If deposits are less than $1 million, a single loan on real estate shall not exceed $10,000. When deposits exceed $1 million but are less than $2 million, a single loan on real estate shall not exceed two and one-half percent of the deposits. When deposits exceed $2 million, a single loan on real estate shall not exceed two percent of the savings bank’s deposit liability.
(2) A loan may exceed the limitations prescribed in subsection (1) of this section if the borrower furnishes the savings bank with a copy of an agreement entered into with a financially responsible person wherein the person agrees to refinance or repurchase, without recourse, the entire loan:
(a) Upon completion of the construction, if the loan is a construction loan; or
(b) Within six months from the date of the loan, if the loan is not a construction loan.