Or. Admin. Code § 441-735-0160

Current through Register Vol. 64, No. 1, January 1, 2025

Section 441-735-0160 - Daily-Interest Computation

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.

FCS 7-2010, f. & cert. ef. 6-4-10; FCS 2-2012, f. & cert. ef. 7-23-12

Stat. Auth.: ORS 725A.092

Stats. Implemented: ORS 725A.062 & 725A.064