There is a newer version of the Oregon Revised Statutes
2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 716 - Savings Banks
Section 716.554 - Participation in investments in notes or bonds secured by real estate mortgages or trust deeds.
OR Rev Stat § 716.554 (2015) What's This?
(1) In participation with other mortgagees, a savings bank may invest the funds mentioned in ORS 716.410 in notes or bonds secured by mortgage or deed of trust upon real estate.
(2) An agreement setting forth the manner in which the participating mortgagees shall administer the mortgage and acquired real estate, if any, shall be executed on behalf of each of the mortgagees by two of their authorized officers.
[1973 c.797 §371a; 1977 c.135 §36; 1985 c.554 §6]
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