Or. Admin. Code § 690-090-0055 - Collection of Delinquencies
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:
(a) Refer the file to the Oregon Department
of Justice for legal action; and
(b) Accept an estoppel deed in lieu of
foreclosure after determining that it is in the best interest of the State to
do so.
(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.
Notes
Stat. Auth.: ORS 183 & ORS 541
Stats. Implemented: ORS 541.740
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