2011 Oregon Revised Statutes
ORS Volume 16, Chapters 705 - 752
ORS Chapter 731
731.178 Mortgage insurance.
Mortgage insurance means insurance against financial loss by reason of:
(1) Nonpayment of principal, interest and other sums agreed to be paid under the terms of an obligation secured by a mortgage, deed of trust or other instrument constituting a lien or charge on real or personal property; or
(2) Nonpayment of rent and other sums agreed to be paid under the terms of a written lease for the possession, use or occupancy of real property, such insurance also being referred to in the Insurance Code as lease insurance. [1967 c.359 39; 1969 c.692 1]
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