Obligations secured by documents covering livestock
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 a person, not to exceed 15 percent of the Oregon commercial bank’s capital, secured by documents of title covering livestock if the principal amount of the obligation is not more than 80 percent of the market value of the livestock. Turkeys are considered livestock within the meaning of this section. [1997 c.631 §153]
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