Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 740 - PAWNBROKERS
Section 441-740-0016 - Daily-Interest Computation
Universal Citation: OR Admin Rules 441-740-0016
Current through Register Vol. 63, No. 9, September 1, 2024
Interest on a loan must be computed on a daily basis using a 365-day year. The maximum charge for each day shall be 1/365th of the annual rate when calculating the elapsed time of the loan.
Stat. Auth.: ORS 726.260
Stats. Implemented: ORS 726.390
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