As Lender’s know, the Department of Human Services (DHS) and the Oregon Health Authority (OHA) regularly request verification of certain customer financial information. Pursuant to ORS 192.588, DHS and OHA are required to certify to the financial … [Read more...] about Financial Institutions Should Beware of Incomplete Requests for Verification of Customer Financial Information
USDA Announces Interim Rules for Hemp Regulation
The 2018 Farm Bill directed the USDA to establish a national regulatory framework for hemp production. The statute would allow, among other things, federally-chartered banks to do business with the hemp industry. However, until … [Read more...] about USDA Announces Interim Rules for Hemp Regulation
Secured Transactions and Maturity Dates
In Oregon, attention must be paid in drafting loan documents and identifying the date final payment is due (the “Maturity Date”). In loans secured by real property, the Maturity Date should be included in any recorded mortgage, trust deed, … [Read more...] about Secured Transactions and Maturity Dates
Oregon’s Receivership Statute
In 2017, the Oregon Legislature enacted the new Oregon Receivership Code (“Code”), which took effect on January 1, 2018. Previously, Oregon’s Receivership State defined types of receiverships which allowed very little flexibility. The Code provides an … [Read more...] about Oregon’s Receivership Statute
Debtor’s Misrepresentation to a Creditor
Can a Debtor’s misrepresentation to a Creditor, made specifically to get the Creditor to extend credit, be the basis of claiming the obligation is nondischargeable in the Debtor’s bankruptcy? If the misrepresentation is not in writing and relates to a … [Read more...] about Debtor’s Misrepresentation to a Creditor