Notice to borrower of penalty for repayment prior to date for repayment in loan agreement.

  1. Law
  2. Oregon Revised Statutes
  3. Business Organizations, Commercial Code
  4. Interest; Repayment Restrictions
  5. Notice to borrower of penalty for repayment prior to date for repayment in loan agreement.

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NOTICE TO THE BORROWER

Do not sign this loan agreement before you read it. This loan agreement provides for the payment of a penalty if you wish to repay the loan prior to the date provided for repayment in the loan agreement.

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(2) If a loan agreement does not contain a notice as required by subsection (1) of this section, a lender shall not collect from the borrower a penalty for payment of the loan prior to the date provided for repayment. [1973 c.611 §1; 1985 c.359 §1]


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