Oregon § 746.495 Delinquency charges regulated

Oregon Statutes

§ 746.495 — Delinquency charges regulated

Oregon § 746.495

Vol.18

Title 56Insurance

Ch. 746Trade Practices

This text of Oregon § 746.495 (Delinquency charges regulated) 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. § 746.495 (2026).

Text

(1)A premium finance agreement may provide for the payment by the insured of a delinquency charge for any payment that is in default for a period of 10 days or more. Such charge may be made for each month or fraction thereof that the payment is in default. The amount of such charge may be a minimum of $1 and as a maximum shall be subject to the following limits:

(a)For delinquent payments of less than $250, five percent of the payment or $5, whichever is less; or

(b)For delinquent payments of $250 or more, two percent of the payment.

(2)If a payment default results in the cancellation of any insurance policy listed in the agreement, the agreement may provide for the payment by the insured of a cancellation charge of $5, less any delinquency charges imposed in respect to the payment in

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(1) A premium finance agreement may provide for the payment by the insured of a delinquency charge for any payment that is in default for a period of 10 days or more. Such charge may be made for each month or fraction thereof that the payment is in default. The amount of such charge may be a minimum of $1 and as a maximum shall be subject to the following limits:
(a) For delinquent payments of less than $250, five percent of the payment or $5, whichever is less; or
(b) For delinquent payments of $250 or more, two percent of the payment.
(2) If a payment default results in the cancellation of any insurance policy listed in the agreement, the agreement may provide for the payment by the insured of a cancellation charge of $5, less any delinquency charges imposed in respect to the payment in default.