Oregon Revised Statutes
Any bona fide assignment of a chose in action by way of sale or pledge made in writing for a good, valuable and adequate consideration is deemed completed at the time the writing is executed by the assignor and takes effect at the time of execution according to the terms of the writing without the giving of notice to the debtor therein mentioned unless such …
In the case of an assignment of a thing in action, an action or suit by the assignee is without prejudice to any setoff or other defense existing at the time of, or before notice of the assignment; but this section does not apply to a negotiable instrument transferred in good faith and upon good consideration before due.
As used in ORS 80.100 to 80.130: “Approved unique identifier” means a number, combination of numbers and letters, or another identifier that the Secretary of State prescribes by rule. “Buyer” means a person who, in the ordinary course of business, buys farm products from a person engaged in farming operations who is in the business of selling farm products…
The Secretary of State shall devise a method or system to provide approved unique identifiers for persons filing documents under ORS 80.100 to 80.130. If necessary under federal law, the Secretary of State shall seek approval of the method or system devised under subsection of this section from the Secretary of the United States Department of Agriculture.
An effective financing statement, amendment to an effective financing statement, continuation statement, statement that an effective financing statement has lapsed or other statement filed with the Secretary of State under ORS 80.100 to 80.130 may be filed in an electronic format. Statements filed electronically under this section shall conform to the techn…
The Secretary of State shall establish, implement and operate the central filing system for farm products. The Secretary of State shall ensure that the central filing system for farm products described in ORS 80.100 to 80.130 complies with the requirements for a central filing system as defined by 7 U.S.C. 1631 as that statute read on December 24, 1986. T…
Except as provided in ORS 80.112, a buyer who in the ordinary course of business buys farm products from a seller engaged in farming operations shall take free of a security interest created by the seller, and a commission merchant or selling agent who sells in the ordinary course of business farm products for others shall not be subject to a security intere…
Under the central filing system for farm products, a buyer of farm products or commission merchant or selling agent who sells farm products for others shall be subject to a security interest in such farm products created by the seller if: The buyer or commission merchant or selling agent has failed to register with the Secretary of State prior to the purcha…
An effective financing statement for farm products as defined in ORS 80.100 is sufficient to register a security interest in a farm product if the statement: Contains the name and address of the secured party; Contains the name and address of each person, whether or not a debtor, subjecting the farm products to the security interest; Contains the approved…
Under the central filing system for farm products, the Secretary of State shall record the date and time of filing of effective financing statements or changes thereto, and compile this information into a master list organized according to farm products. The Secretary of State shall by rule determine the categories of farm products. Within each category of …
On request, the Secretary of State shall furnish to persons not registered under ORS 80.118 oral confirmation within 24 hours of the existence of any effective financing statement followed by written confirmation to any buyer of farm products buying from a debtor or commission merchant or selling agent selling for a seller covered by such statement. The req…
Nothing in ORS 80.100 to 80.130 shall prevent a secured party from providing a courtesy notice to any person regarding the secured party’s security interests in farm products. The rights or obligations of the secured party or any other person shall not be affected by the failure of a secured party to give a courtesy notice or by the accuracy or completeness …
The proper place to file an effective financing statement on farm products as defined in ORS 80.100 is in the office of the Secretary of State.
The proper place to register under ORS 80.118 as a buyer of farm products or a commission merchant or selling agent of farm products as defined in ORS 80.100 is in the office of the Secretary of State. The registration is effective for one year following the date of registration. Registration may be amended by filing a new registration. The Secretary of Stat…