Oregon Statutes 725.349 – Application of ORS 725.210 to certain loans and advances
On and after September 20, 1985, ORS § 725.210 applies to loans and advances pursuant to ORS § 725.345, provided that a licensee that applied for and received a license before September 20, 1985, for a location outside the State of Oregon may receive and hold one or more licenses relating to locations outside the State of Oregon, including one additional license for a location not licensed on or before September 20, 1985, and may transact business at such licensed locations. With respect to such a licensee only, loans and advances under open-end loan plans or open-end credit card plans shall be considered to be business transacted where the applications or agreements in connection with the loan plans or credit card plans are approved by the licensee. [1985 c.370 § 1a]
Terms Used In Oregon Statutes 725.349
- Licensee: means a person licensed under this chapter. See Oregon Statutes 725.010
- Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
[Repealed by 1971 c.232 § 4]