Or. Admin. Code § 441-505-3075 - Existence of a Direct Benefit
(1)
The amount of money received from an obligation incurred by a borrower will be
considered to be for the direct benefit of another person and will be
attributed to the other person when the amount of money received is transferred
to another person, or the assets purchased with the money received are
transferred to another person.
(2)
This rule does not apply to bona fide transactions made in good faith where the
money received from a loan obligation is used to acquire property, goods, or
services.
Notes
Stat. Auth.: ORS 706.790
Stat. Implemented: ORS 708A.295
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.