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Oregon Revised Statutes Title 26A. Economic Development § 285B.109

Current as of January 01, 2023 | Updated by Findlaw Staff

As used in ORS 285B.109 to 285B.119, unless the context requires otherwise:

(1) “Brownfield” or “brownfields” has the meaning given that term in ORS 285A.185.

(2) “Capital access program” means the program established by ORS 285B.109 to 285B.119.

(3) “Environmental action” has the meaning given that term in ORS 285A.188.

(4) “Financial institution” means a financial institution, as defined in ORS 706.008.

(5) “Loss reserve account” means an account in the State Treasury or any financial institution that is established and maintained by the Oregon Business Development Department for the benefit of a financial institution participating in the capital access program.

(6) “Qualified business” means any person, conducting business for profit or not for profit, that is authorized to conduct business in the State of Oregon.

(7) “Qualified loan” means a loan or portion of a loan made by a financial institution to a qualified business for any business activity that has its primary economic effect in Oregon. The term does not include:

(a) A loan for the purchase of owner-occupied residential housing or for the construction, improvement or purchase of residential housing owned or to be owned by the borrower.

(b) A loan for purchase of real property that is not used for the business operations of the borrower.

(c) A loan for the refinancing of an existing loan when and to the extent that the outstanding balance is not increased.

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Cite this article: FindLaw.com - Oregon Revised Statutes Title 26A. Economic Development § 285B.109 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-26a-economic-development/or-rev-st-sect-285b-109/

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