Oregon Statutes 708A.315 – Noncommercial short-term notes
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In addition to obligations permitted under ORS § 708A.295, an Oregon commercial bank may acquire obligations of a person, not to exceed 15 percent of the bank’s capital, as an indorser or guarantor of notes, other than commercial or business paper excepted under ORS § 708A.310, having a maturity of not more than six months, and owned by the person indorsing and negotiating the same. [1997 c.631 § 148]
Terms Used In Oregon Statutes 708A.315
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100