37.260 Receivership financing
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/or/ors-chapter-37/receivership/37-260·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
37.260 Receivership financing.
(1)If a receiver is authorized to operate the business of a person or manage a person’s property, the receiver may obtain credit and incur debt in the ordinary course of business. Expenses related to such credit and debt are allowable under ORS 37.370 as an administrative expense of the receiver.
(2)Upon court order, a receiver may obtain credit or incur debt other than in the ordinary course of business. The court may allow the receiver to mortgage, pledge, hypothecate or otherwise encumber estate property as security for repayment of any debt incurred under this subsection. A creditor’s security interest may be in the form of a receiver’s certificate. [2017 c.358 §26]