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Current as of January 01, 2023 | Updated by Findlaw Staff
As used in this section and ORS 286A.102:
(1) “Obligation” means:
(a) A bond;
(b) An agreement for exchange of interest rates with the State of Oregon; or
(c) A credit enhancement device given as additional security for a bond.
(2) “Pledge” means:
(a) To create a security interest in or a lien on property to secure payment or performance of an obligation, by mortgaging, assigning or encumbering property or by creating a security interest in property by any other manner.
(b) A security interest in or lien on property created under paragraph (a) of this subsection.
(3) “Pledgee” means:
(a) A trustee for the holder of an obligation; or
(b) The holder of an obligation if a trustee was not appointed in the operative document or if the operative document authorizes the holder of an obligation to foreclose the lien of a pledge and enforce the remedies consequent to the pledge in lieu of the trustee.
(4) “Property” means:
(a) Real or personal property, tangible or intangible, whether owned when the pledge is made or acquired subsequently to the time the pledge is made; and
(b) Revenues, contract rights, receivables or securities.
Cite this article: FindLaw.com - Oregon Revised Statutes Public Borrowing § 286A.100 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-27-public-borrowing/or-rev-st-sect-286a-100/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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