(2) The board may accept by assignment and hold mortgages upon real and personal property acquired by way of gift or arising out of transactions entered into in accord with the powers, duties and authority given to the board by this section and ORS 357.026 and 357.195.
(3) The board may institute, maintain and participate in suits, actions and other judicial proceedings in the name of the State of Oregon for the foreclosure of such mortgages or for the purpose of carrying into effect any and all of the powers, duties and authority now vested in or given to the board by this section. [Amended by 1975 c.476 §11; 1995 c.69 §11; 2015 c.328 §11]