Oregon § 725.355 Prohibition against assignment of earnings for loan security

Oregon Statutes

§ 725.355 — Prohibition against assignment of earnings for loan security

Oregon § 725.355

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 725Consumer Finance

This text of Oregon § 725.355 (Prohibition against assignment of earnings for loan security) 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. § 725.355 (2026).

Text

(1)As used in this section, “earnings” means salary, wages or other compensation for service.

(2)No licensee shall take an assignment of earnings as payment of or as security for payment of a loan. An assignment in violation of this subsection is unenforceable by the assignee and revocable by the assignor. Nothing in this subsection is intended to prevent an employee from authorizing deductions from the earnings of the employee if the authorization is revocable.

(3)For the purpose of this section, a sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is considered a loan to the seller, secured by an assignment of earnings.

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(1) As used in this section, “earnings” means salary, wages or other compensation for service.
(2) No licensee shall take an assignment of earnings as payment of or as security for payment of a loan. An assignment in violation of this subsection is unenforceable by the assignee and revocable by the assignor. Nothing in this subsection is intended to prevent an employee from authorizing deductions from the earnings of the employee if the authorization is revocable.
(3) For the purpose of this section, a sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is considered a loan to the seller, secured by an assignment of earnings.