ORS 708A.345¹
Obligations secured by government obligations or shares of mutual fund or unit trust

In addition to obligations permitted under ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank), an Oregon commercial bank may make loans to and acquire other obligations of any person if the obligation is secured by one or more of the following types of security and the principal amount of the obligation is not more than 90 percent of the market value of the security:

(1) Obligations of the United States, including those of its agencies and instrumentalities;

(2) Obligations of public housing agencies issued pursuant to the United States Housing Act of 1937, as amended;

(3) Obligations of the State of Oregon or any county, city, school district, port district or other public body with the power to levy taxes issued pursuant to the Constitution or statutes of the State of Oregon or the charter or ordinances of any county or city within the State of Oregon, if the issuing body has not been in default with respect to the payment of principal or interest on any of its obligations within five years preceding the date of the investment; or

(4) Shares in any mutual fund or unit trust, the assets of which are invested solely in obligations of the type described in subsections (1) to (3) of this section. [1997 c.631 §154]

1 Legislative Counsel Committee, CHAPTER 708A—Regulation of Institutions Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors708A.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
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. Currency Information