Chapter 82 — Interest; Repayment Restrictions

82.005 [1979 c.655 §2; repealed by 1981 c.412 §24]

INTEREST

82.010 Legal rate of interest; effect of violation

The rate of interest for the following transactions, if the parties have not otherwise agreed to a rate of interest, is nine percent per annum and is payable on: All moneys after they become due; but open accounts bear interest from the date of the last item thereof. Money received to the use of another and retained beyond a reasonable time without the own…

82.020 Computation of interest; charges not included

If, pursuant to any arrangement, understanding or agreement, with the knowledge of the lender, either as a part of the contract of borrowing or collateral thereto, regardless of when made and whether it is made as a special arrangement or in conformity to a regular rule, regulation or practice, there is paid by or at the expense of the borrower to the lender…

82.025 Exemptions from application of ORS 82.010 (3) and (4) and 82.020

ORS 82.010 (3) and (4) and 82.020 do not apply to: Any financial institution or trust company, as those terms are defined in ORS 706.008, any consumer finance licensee under ORS chapter 725 or any pawnbroker licensed under ORS chapter 726. Any lender approved by the Secretary of Housing and Urban Development of the United States for participation in any mo…

82.110 [Repealed by 1981 c.412 §24]

82.115 [1975 c.625 §2; 1977 c.791 §2; repealed by 1981 c.412 §24]

82.117 [1979 c.638 §2; repealed by 1981 c.412 §24]

82.120 [Amended by 1975 c.321 §1; 1979 c.284 §90; repealed by 1981 c.412 §24]

82.125 [1971 c.214 §2; repealed by 1981 c.412 §24]

82.130 [Repealed by 1981 c.412 §24]

82.140 [Repealed by 1981 c.412 §24]

REPAYMENT RESTRICTIONS

82.150 Definitions for ORS 82.160 and 82.170

As used in ORS 82.160 and 82.170: “Loan” means a loan of money that is primarily for personal, family or household use made by a person who is regularly engaged in the business of lending money. “Loan agreement” means the written document issued in connection with a loan that sets forth the terms upon which the loan is made.

82.160 Notice to borrower of penalty for repayment prior to date for repayment in loan agreement

If a loan agreement provides for a penalty to be charged for repaying the loan prior to the date provided for repayment in the loan agreement, the loan agreement shall contain in printing or writing of a size equal to at least 10-point bold or underlined type substantially the following notice: _______________________________________________________________…

82.170 Notice to borrower of lender authority to refuse to accept repayment prior to date for repayment in loan agreement

If a loan agreement authorizes the lender to refuse to accept repayment of the loan prior to the date provided for repayment in the loan agreement, the loan agreement shall contain in printing or writing of a size equal to at least 10-point bold or underlined type substantially the following notice: __________________________________________________________…

82.300 [1989 c.578 §1; repealed by 1997 c.182 §7]

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