2007 ORS 407.085¹

(1) As used in Article XI-A, Oregon Constitution, and this chapter, for the purposes of administration:

(a) "Acquisition" means:

(A) Purchase and improvement of a home or farm.

(B) Payment of the balance of the purchase price and interest on a purchase contract, and the improvement of property thereby acquired.

(C) Refinance of an existing purchase-money mortgage or mortgage in the nature thereof, and the improvement of property thereby purchased.

(D) Improvement of a home or farm.

(b) "Bonds" includes, but is not limited to, serial bonds, term bonds, notes, obligations, lines of credit, revolving credit agreements, loans, financing agreements or other evidence of indebtedness determined by the Department of Veterans’ Affairs, with the approval of the State Treasurer, to be necessary or desirable to provide funds for the purposes expressed in Article XI-A of the Oregon Constitution.

(2) As used in this chapter:

(a) "Committee" means the Advisory Committee provided for by ORS 406.210 (Function of advisory committee).

(b) "Home" means any residential-type structure, including outbuildings and the real property in connection with it, if any, including long-term leaseholds, which is established, maintained and used primarily as a principal residence by the veteran.

(c) "Improvement" means new construction or any necessary or beneficial additions, alterations or changes appurtenant to the home or farm which protect or improve the basic livability or energy efficiency of the premises.

(d) "Mobile home" means a structure, transportable in one or more sections, which is 10 feet or more in width, and contains more than 500 square feet of living space figured on exterior dimensions of the structure, exclusive of any hitch and is designed to be used as a dwelling by one family, and which remains as personal property under the laws of this state. [Formerly 407.010; 2001 c.98 §5; 2005 c.625 §15]

Atty. Gen. Opinions

Loans for immobile homes, (1980) Vol 40, p 335

Chapter 407

Atty. Gen. Opinions

Applica­tion of penalties, loan limits and assump­tion of addi­tional loans, (1977) Vol 38, p 1108; buydown mortgages, (1981) Vol. 42, p 174

1 Legislative Counsel Committee, CHAPTER 407—Veterans Loans, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­407.­html (2007) (last ac­cessed Feb. 12, 2009).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 407, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­407ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.