Oregon Statutes 86.620 – Investment of funds of financial institutions, fiduciaries and others in bonds and mortgages accepted by Federal Housing Administration, debentures issued thereby, and obligations of national mortgage associations
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Financial institutions as defined in ORS § 706.008, trustees, guardians, conservators, executors, administrators, other fiduciaries and all other persons, associations and corporations, subject to the laws of this state, may invest their funds, and the money in their custody or possession, eligible for investment, in bonds and mortgages on real property insured by the Federal Housing Administration, in debentures issued by the Federal Housing Administration, and in obligations of national mortgage associations. [Amended by 1967 c.359 § 679; 1973 c.823 § 94; 1997 c.631 § 387; 2019 c.13 § 22]
Terms Used In Oregon Statutes 86.620
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.