ORS 407.135¹
Authority of department
  • disposition of certain moneys

The Department of Veterans’ Affairs is authorized and empowered, in the name and in behalf of the state, to make or participate in the making of residential loans under this chapter; to undertake commitments to make residential loans; to purchase and sell residential loans; to commence and prosecute to judgment all suits, actions and proceedings necessary to protect the interest of the state; to bid on property offered for sale under such proceedings and to acquire title to property for and in behalf of the state as a result of such proceedings; to accept deeds from borrowers in lieu of foreclosure; to sell, transfer, convey, lease or assign any property acquired by the department for and in behalf of the state; to make repairs and improvements or alterations; to pay taxes, liens and charges of every kind superior to the lien of the state; to pay the principal and interest on any obligations incurred in connection with such property; to dispose of such property; and otherwise to administer such property in such manner as the department deems to the best interest of the state. All money received by the department from the sale, leasing or other disposition of any property shall be paid over to the State Treasurer and deposited in the Oregon War Veterans’ Bond Sinking Account. [Formerly 407.080; 1987 c.652 §3; 2003 c.576 §439; 2005 c.625 §20; 2019 c.223 §6]

See also annota­tions under ORS 407.080 in permanent edi­tion.

Atty. Gen. Opinions

Maintenance or repair of properties that are security for existing veterans’ loans, (1982) Vol. 42, p 234

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/­ors407.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 407, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano407.­html (2019) (last ac­cessed May 16, 2020).
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