2021 Oregon Revised Statutes
Chapter 407 - Veterans Loans
Section 407.087 - Definition of "veteran."


(a) Served on active duty with the Armed Forces of the United States:
(A) For a period of more than 90 consecutive days beginning on or before January 31, 1955, and was discharged or released from active duty under honorable conditions;
(B) For a period of more than 178 consecutive days beginning after January 31, 1955, and was discharged or released from active duty under honorable conditions;
(C) For 178 days or less and was discharged or released from active duty under honorable conditions because of a service-connected disability;
(D) For 178 days or less and was discharged or released from active duty under honorable conditions and has a disability rating from the United States Department of Veterans Affairs; or
(E) For at least one day in a combat zone and was discharged or released from active duty under honorable conditions;
(b) Received a combat or campaign ribbon or an expeditionary medal for service in the Armed Forces of the United States and was discharged or released from active duty under honorable conditions; or
(c) Is receiving a nonservice-connected pension from the United States Department of Veterans Affairs.
(2) As used in subsection (1) of this section:
(a) "Active duty" does not include attendance at a school under military orders, except schooling incident to an active enlistment or a regular tour of duty, or normal military training as a reserve officer or member of an organized reserve or National Guard unit.
(b) "Honorable conditions" has the meaning given that term in rules adopted by the Department of Veterans’ Affairs. [Formerly 407.090 (Reassigned); 2019 c.223 §4]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 10 - Highways, Military

Chapter 407 - Veterans Loans

Section 407.075 - Purpose; legislative intent.

Section 407.085 - Definitions.

Section 407.087 - Definition of "veteran."

Section 407.090

Section 407.095 - Policy against foreclosure; rules.

Section 407.145 - Purchase and control of property; disbursements to protect security.

Section 407.169 - Escrow accounts; standards; interest; rules.

Section 407.177 - Loan processing and servicing contracts with lending institutions; terms; procedures.

Section 407.195 - Loans not being amortized; identification; notice to borrowers.

Section 407.201 - Required disclosure of credit information and loan terms.

Section 407.205 - Application for loan; amount of loan; limit on number of loans.

Section 407.225 - Processing of loan application; security.

Section 407.275 - Terms of loan to veteran and transferee.

Section 407.285 - Rate of interest payable by certain transferees.

Section 407.315 - Interest rate for veteran’s assumption; variable rate; effect of rate on cash flow; rules.

Section 407.325 - Rate of interest on loans; rules.

Section 407.327 - Department to prescribe fixed or variable interest rates.

Section 407.335 - Rate of interest payable by transferee; limit on transfers; rules.

Section 407.375 - Sale of foreclosed properties; improvement in lieu of down payment; interest rate; redemption of property; rules.

Section 407.385 - Prohibition against using loan for purpose other than farm or home acquisition; prompt use of farm or home as principal residence; extension; exception; penalty.

Section 407.465 - Loan cancellation life insurance.

Section 407.480 - Definitions for ORS 407.480 to 407.490.

Section 407.485 - Agreements for mortgage insurance; terms; amount; required coverage.

Section 407.495 - Oregon War Veterans’ Fund; sources; uses.

Section 407.505 - Loan moneys to be reserved for borrower prior to loan commitment.

Section 407.515 - Oregon War Veterans’ Bond Sinking Account; sources; use.