2017 ORS 82.025¹
Exemptions from application of ORS 82.010 (3) and (4) and 82.020

ORS 82.010 (Legal rate of interest) (3) and (4) and 82.020 (Computation of interest) do not apply to:

(1) Any financial institution or trust company, as those terms are defined in ORS 706.008 (Additional definitions for Bank Act), any consumer finance licensee under ORS chapter 725 or any pawnbroker licensed under ORS chapter 726.

(2) Any lender approved by the Secretary of Housing and Urban Development of the United States for participation in any mortgage insurance program under the National Housing Act (12 U.S.C. 1701 et seq.).

(3) Any loan secured by a first lien on real property or made to finance the acquisition of real property and secured by any lien on that property.

(4) Any loan that is secured by real property, scheduled under the loan agreement to be repaid in substantially equal payments and made by a lender described in this subsection. A lender under this subsection is one who makes, invests in or arranges real property loans, including loans secured by first liens on residential manufactured homes, aggregating more than $1 million per year. Under this subsection, payments shall be substantially equal if, under the terms of the loan agreement, no single scheduled payment is more than twice the amount of any other scheduled payment.

(5) Any loan wholly or partially secured or covered by guarantees or insurance by the Federal Housing Administration, the United States Department of Veterans Affairs or Rural Development or the Farm Service Agency of the United States Department of Agriculture, any department, bureau, board, commission or agency of the United States, or any corporation wholly owned, directly or indirectly by the United States.

(6) Any loan permitted under applicable federal law and regulations from a tax qualified retirement plan to a person then a participant under the plan.

(7) Any bona fide sale or resale of securities or commercial paper.

(8) Any interest charge by broker-dealers registered under the Securities Exchange Act of 1934 for carrying a debit balance in an account for a customer if the debit balance is payable on demand and secured by stocks or bonds. [1987 c.215 §21; 1991 c.67 §13; 1997 c.631 §382; 2007 c.71 §17]

Notes of Decisions

Excep­tion for financing acquisi­tion of real prop­erty applies to funding direct purchases of real prop­erty and not to indirect facilita­tion of sales. McConnell v. Sutherland, 135 Or App 477, 898 P2d 254 (1995)

1 Legislative Counsel Committee, CHAPTER 82—Interest; Repayment Restrictions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors082.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 82, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano082.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.