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2019 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 731 - Administration and General Provisions
Section 731.178 - "Mortgage insurance."
Universal Citation: OR Rev Stat § 731.178 (2019)
"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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