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Label:
City code section
- As used in this Chapter unless the context requires otherwise:
- A. Borrower means a natural person who receives a payday loan.
- B. Cancel means to annul the payday loan agreement and, with respect to the payday loan agreement returning the borrower and the payday lender to their financial condition prior to the origination date of the payday loan.
- C. Director means the City Administrator of designee who carries out the work of the Revenue Division.
- D. Payday lender means a “lender” in the business of making payday loans as defined in ORS 725.600.
- E. Payday loan means a payday loan as defined by state law.
- F. Principal means the original loan proceeds advanced for the benefit of the borrower in a payday loan excluding any fee or interest charge.
- G. Revenue Division means, for the purposes of this Chapter, the revenue services and program of the City Administrator under Portland City Code Chapter 3.06, and may be referred to as “Division.”