The Department of State Lands shall adopt methods, rules and regulations for ascertaining the value of and state of the title of any lands proposed as security for any loan under the provisions of ORS § 327.425 and 327.430. All expenses of ascertaining title shall be borne by the applicant. The department may establish fees to be paid by the applicant for the appraisal of any property offered as security. [Amended by 1965 c.229 § 2]

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