Interest on unsecured interest-bearing deposits and on secured interest-bearing deposits other than public funds shall stop on the date any Oregon stock bank is placed in the hands of the Director of the Department of Consumer and Business Services for liquidation. Interest on public funds that are secured as provided in ORS chapter 295, shall continue at the rate being paid by the Oregon stock bank prior to the time it closed.
ORS 711.525
Amended by 1973 c.797 §271; 1997 c.631 §251
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.