There is a newer version of the Oregon Revised Statutes
2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 716 - Savings Banks
Section 716.564 - Investment in notes or bonds secured by mortgages or trust deeds to finance real estate development.
OR Rev Stat § 716.564 (2015) What's This?
A savings bank may invest the funds mentioned in ORS 716.410 in notes or bonds secured by a mortgage, deed of trust or other instrument for the purpose of financing the acquisition and development of land for primarily commercial, industrial or residential usage. A loan may be made on real estate which is to be improved with the developments to be paid for from the proceeds of the loan if the proceeds will be used for that purpose.
[1973 c.797 §371e; 1985 c.554 §9]
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