Recording of contract
- • effective date
- • preeminence of contract with respect to rights and liabilities
Upon the execution and delivery of the contract, the board of directors shall cause it to be recorded in the records of mortgages in the counties in which any part of the lands covered by the contract are located. Upon recordation, the contract shall become effective in accordance with its terms as of the effective date agreed upon in the contract. As of the effective date, the rights, privileges, liabilities and obligations of all parties to the contract, as described in the contract, shall govern and control all parties in lieu of all statutory rights, privileges, liabilities and obligations theretofore governing and controlling the parties in the premises. [Formerly 545.316]
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.