Oregon Statutes 194.375 – Protest of commercial paper
(1) A notary public may protest commercial paper if the notary public is:
Terms Used In Oregon Statutes 194.375
- Commercial paper: means instruments that are within the scope of ORS Chapter 73, including drafts, checks, certificates of deposit and notes. See Oregon Statutes 194.215
- Notary public: means an individual commissioned to perform a notarial act by the Secretary of State. See Oregon Statutes 194.215
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 194.215
(a) An officer or employee of a financial institution or trust company;
(b) An officer or employee of an investment company;
(c) An individual serving under the direct supervision of an officer or employee of a financial institution, trust company or investment company; or
(d) An active member of the Oregon State Bar, or an individual serving under the direct supervision of an active member of the Oregon State Bar.
(2) Each notary public who protests commercial paper shall take the actions required by ORS § 73.0505.
(3) A notary public may not protest commercial paper owned or held for collection by a financial institution, trust company or investment company if the notary public is individually a party to the commercial paper.
(4) As used in this section:
(a) ‘Financial institution’ has the meaning given that term in ORS § 706.008.
(b) ‘Investment company’ means an entity that is registered as an investment company under the federal investment company laws.
(c) ‘Trust company’ has the meaning given that term in ORS § 706.008. [2013 c.219 § 32 (enacted in lieu of 194.070)]