Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 735 - PAYDAY AND TITLE LENDING
Section 441-735-0160 - Daily-Interest Computation
Universal Citation: OR Admin Rules 441-735-0160
Current through Register Vol. 63, No. 9, September 1, 2024
Interest on a loan may be computed on a daily basis using a 365-day factor. In determining the elapsed time to compute interest or a refund of interest, on such a loan, the maximum charge for each day must be 1/365th of the annual rate.
Stat. Auth.: ORS 725A.092
Stats. Implemented: ORS 725A.062 & 725A.064
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