Source: https://www.oregonlaws.org/ors/696.375
Timestamp: 2019-05-20 00:52:18
Document Index: 202928763

Matched Legal Cases: ['§40', '§1', '§25', '§38', '§104', '§1', '§523', '§34', '§13']

ORS 696.375 - Real Estate Agency - 2017 Oregon Revised Statutes
2017 ORS Vol. 15 Chapter 696 Section 696.375
2017 ORS 696.375¹
• Real Estate Commissioner
• confirmation, salary and security of commissioner
(1) The Real Estate Agency is established.
(2) The Real Estate Agency shall be under the supervision and control of an administrator who shall be known as the Real Estate Commissioner. The Governor shall appoint the Real Estate Commissioner who shall have been, before the date of appointment, for five years a real estate broker or principal real estate broker actively engaged in business as such in this state. The Governor also may appoint an individual who has been actively connected with the administration of the agency for at least one year as acting or temporary commissioner. The commissioner shall hold office at the pleasure of the Governor and shall be responsible for the performance of the duties imposed upon the agency. The Real Estate Commissioner shall receive such salary as may be provided by law.
(3) The appointment of the commissioner is subject to confirmation by the Senate in the manner prescribed in ORS 171.562 (Procedures for confirmation) and 171.565 (Vote required for confirmation).
(4) Before entering upon the duties of office the commissioner shall give to the state a fidelity bond with one or more corporate sureties authorized to do business in this state, or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008 (Additional definitions for Bank Act), in either case in the sum fixed by the Governor. The premium for the bond or the fee for the letter of credit shall be paid by the agency. [1963 c.580 §§40,41; 1974 c.25 §1; 1975 c.746 §25; 1987 c.414 §38; 1991 c.331 §104; 1995 c.674 §1; 1997 c.631 §523; 2001 c.300 §34; 2007 c.319 §13]