2017 ORS 285B.740¹
Legislative intent
  • delegation of loan program responsibilities
  • powers of department
  • loan fees

It is the intent of the Legislative Assembly that in the administration of ORS 285B.740 (Legislative intent) to 285B.758 (Oregon Entrepreneurial Development Loan Fund), the Oregon Business Development Department work closely with regional economic development organizations, community development corporations, small business development centers and organizations that promote and assist minority-owned businesses, woman-owned businesses, businesses that service-disabled veterans own and emerging small businesses, as those terms are defined in ORS 200.005 (Definitions), and utilize policies, priorities and practices that further entrepreneurial and small business development in rural communities. The department, to the maximum extent feasible and consistent with prudent financial controls, may delegate the administration and operation of the loan program created by ORS 285B.740 (Legislative intent) to 285B.758 (Oregon Entrepreneurial Development Loan Fund) to local and community-based entities. To carry out the policy described in this section:

(1) The department may contract with any nonprofit corporation or agency with experience and expertise in business finance to administer all or any part of the loan program created by ORS 285B.740 (Legislative intent) to 285B.758 (Oregon Entrepreneurial Development Loan Fund).

(2) When entering into an agreement for the administration of the loan program by any nonprofit corporation or agency, the department may agree to waive any claims it may have against such corporation or agency for losses arising out of the normal course of business, as long as the corporation or agency does not act negligently or fraudulently in providing loans under ORS 285B.740 (Legislative intent) to 285B.758 (Oregon Entrepreneurial Development Loan Fund).

(3) When entering into an agreement to have a nonprofit corporation or agency administer the loan program created by ORS 285B.740 (Legislative intent) to 285B.758 (Oregon Entrepreneurial Development Loan Fund), the department may pay loan origination and loan servicing fees to the corporation or agency. The amount of such fees may be determined in the agreement between the department and the administering corporation or agency. [1991 c.688 §12; 2007 c.804 §79; 2009 c.830 §130; 2014 c.3 §2; 2015 c.565 §17]

1 Legislative Counsel Committee, CHAPTER 285B—Economic Development Ii, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors285B.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.