Participation in investments in notes or bonds secured by real estate mortgages or trust deeds
(1) In participation with other mortgagees, a savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in notes or bonds secured by mortgage or deed of trust upon real estate.
(2) An agreement setting forth the manner in which the participating mortgagees shall administer the mortgage and acquired real estate, if any, shall be executed on behalf of each of the mortgagees by two of their authorized officers. [1973 c.797 §371a; 1977 c.135 §36; 1985 c.554 §6]
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