Go to Other Versions of The
Oregon Rev. Stat.
2025 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285B - Economic Development II
Section 285B.044 - Breach; default.
Universal Citation:
OR Rev Stat § 285B.044 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(1) If a project sponsor fails to comply with an agreement entered into under ORS 285B.041, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment of obligations due from the project sponsor to the Industrial Site Loan Fund.
(2)(a) If a project sponsor defaults on payments of obligations to the fund under ORS 285B.032 to 285B.046, the State of Oregon may withhold any amounts otherwise due to the project sponsor to offset against the obligations. The department may waive this right to withhold.
(b) Moneys withheld under paragraph (a) of this subsection shall be deposited in the fund and shall be used to repay any account in the fund from which moneys were expended to pay obligations upon which the project sponsor defaulted. [2025 c.566 §11]
Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
