Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 730 - CONSUMER FINANCE
Section 441-730-0250 - Receipt to Be Furnished to Borrower Upon Request
Universal Citation: OR Admin Rules 441-730-0250
Current through Register Vol. 63, No. 9, September 1, 2024
(1) When the borrower requests a receipt for a payment on a loan for which interest is to be computed on a daily basis, the receipt shall specify:
(a) The amount applied
to interest, if any;
(b) The date
to which the interest is paid, or the dollar amount short, if payment is
insufficient to pay interest to date;
(c) The amount applied to principal, if any;
and
(d) The unpaid principal of
such loan, if any.
(2) When a borrower requests a receipt for a payment on a loan that is contracted for interest to be precomputed, the receipt shall specify:
(a) The amount of the payment applied to the
loan and any default charges; and
(b) The amount of the unpaid balance of the
loan and charges, if any.
Stat. Auth.: ORS 725.505
Stats. Implemented: ORS 725.360
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