ORS 716.568¹
Requirement of insurance for loan secured by mortgage, trust deed or other instrument on real estate

If a loan is secured by mortgage, deed of trust or other similar instrument on real estate, the mortgage, deed of trust or other instrument shall contain provisions requiring the maintenance of insurance on the buildings on the premises to the reasonable amount as stipulated in the mortgage, deed of trust or other instrument. The policy shall be payable, in case of loss, to the savings bank and shall be deposited with the savings bank except where the savings bank’s interest is insured under a blanket policy of insurance. [1973 c.797 §371g; 1985 c.554 §11]

Chapter 716

Atty. Gen. Opinions

Applicability of licensing and registra­tion require­ments under Bank Act to loan solicita­tion office operating in Oregon, (1985) Vol. 44, p 378

1 Legislative Counsel Committee, CHAPTER 716—Savings Banks, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors716.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 716, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano716.­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