obligations

  • "Obligations" includes:

    (a) The direct liability of the maker or acceptor of paper discounted with or sold to an institution;

    (b) The liability of the drawer, indorser or assignor;

    (c) If obligations of a copartnership or association, the obligations of the several members of the copartnership or association;

    (d) If obligations of a corporation, the obligations of all subsidiaries of the corporation in which the corporation owns or controls 50 percent or more of the capital stock; and

    (e) The liability of a lessee under a lease.

    Oregon Legislature 1