Oregon Administrative Rules
Chapter 690 - WATER RESOURCES DEPARTMENT
Division 90 - WATER DEVELOPMENT LOAN FUND
Section 690-090-0055 - Collection of Delinquencies
Current through Register Vol. 63, No. 9, September 1, 2024
The director may use any of the following methods to collect delinquent accounts, unless otherwise precluded by specific loan contract provisions:
(1) Establish and impose a late charge as provided for in the individual loan agreements, contracts, or as negotiated in extension agreements.
(2) Enter into extension agreements as allowed by the loan agreement, bond indentures, and opinions of the Attorney General.
(3) Issue a demand letter at default as determined by the loan agreement or the note and mortgage. At expiration of the demand letter the director may:
(4) Enter bids at sheriff's sales to purchase real and personal property in order to protect the State's interest.
(5) Refer the account to the Oregon Department of Justice for action in bankruptcy proceedings.
(6) Enter into agreements for receivership as recommended by the Attorney General's Office.
(7) Assign to the Oregon Department of Justice the pursuit of a writ of mandamus requiring the borrower to increase assessments, user charges or other revenue pledged for repayment to adequately facilitate repayment of the loan or bond obligation.
(8) Nothing in this section shall limit the authority granted to the commission by ORS 541.740.
Stat. Auth.: ORS 183 & ORS 541
Stats. Implemented: ORS 541.740
