Oregon Statutes 37.260 – Receivership financing
Current as of: 2023 | Check for updates
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(1) If a receiver is authorized to operate the business of a person or manage a person’s property, the receiver may obtain credit and incur debt in the ordinary course of business. Expenses related to such credit and debt are allowable under ORS § 37.370 as an administrative expense of the receiver.
Terms Used In Oregon Statutes 37.260
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) Upon court order, a receiver may obtain credit or incur debt other than in the ordinary course of business. The court may allow the receiver to mortgage, pledge, hypothecate or otherwise encumber estate property as security for repayment of any debt incurred under this subsection. A creditor’s security interest may be in the form of a receiver’s certificate. [2017 c.358 § 26]