74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 1919
 
                         Senate Bill 613
 
Sponsored by Senator JOHNSON (at the request of Oregon Public
  Property Managers Association)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Requires that written instrument assigning mortgage show name
and address of assignee.
 
                        A BILL FOR AN ACT
Relating to assignment of mortgages; creating new provisions; and
  amending ORS 86.060.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 86.060 is amended to read:
  86.060.  { + (1) + } Mortgages may be assigned by an instrument
in writing, executed and acknowledged with the same formality as
required in deeds and mortgages of real property, and recorded in
the records of mortgages of the county where the land is
situated.
   { +  (2) The name and address of the assignee shall be entered
on the first page of the recorded instrument. + }
  SECTION 2.  { + The amendments to ORS 86.060 by section 1 of
this 2007 Act apply to written instruments filed on or after the
effective date of this 2007 Act for recording by a county. + }
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