ORS 708A.590¹
Charging off real estate assets

(1) An institution that owns or holds any real estate other than as permitted in the Bank Act shall immediately charge the book value of real estate to profit and loss or otherwise remove the real estate from its books.

(2) All real estate owned or held by an institution in accordance with ORS 708A.175 (Right to purchase, hold and dispose of real and personal property) (3) or (4) shall be reduced in book value by not less than five percent of its original book value per year commencing the year title is vested and continuing until the earlier of the year the real estate is disposed of or the expiration of the period such real estate may be owned or held under ORS 708A.195 (Disposition of real and personal property). Upon the expiration of the period such real estate may be owned or held under ORS 708A.195 (Disposition of real and personal property), the remaining book value shall be charged off. [1997 c.631 §193]

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