Source: https://www.oregonlaws.org/ors/696.205
Timestamp: 2019-10-16 02:40:52
Document Index: 75712469

Matched Legal Cases: ['§7', '§17', '§6', '§8', '§3', '§13']

ORS 696.205 - Death or incapacity of sole principal real estate broker or sole licensed real estate property manager - 2017 Oregon Revised Statutes
2017 ORS Vol. 15 Chapter 696 Section 696.205
696.007
State­ment of legislative purpose
Registra­tion and renewal of business names
696.125
696.184
Duties of continuing educa­tion provider
696.186
Qualifica­tions of continuing educa­tion instructors
Death or incapacity of sole principal real estate broker or sole licensed real estate prop­erty manager
696.241
Clients’ trust accounts
696.243
Substituting copy for original canceled check allowed
696.255
Nonresident license equivalent to appoint­ment of com­mis­sioner as agent for service of process
696.265
Recogni­tion of nonresident real estate licensee
Records of licensed real estate prop­erty managers and real estate brokers
696.292
Limita­tion on demand for compensa­tion
696.375
696.385
696.392
Power of com­mis­sioner to administer oaths, take deposi­tions and issue sub­poe­nas
696.395
Power of com­mis­sioner
696.397
696.398
Delega­tion by com­mis­sioner to employees
696.405
696.415
696.425
2017 ORS 696.205¹
Death or incapacity of sole principal real estate broker or sole licensed real estate property manager
(1) If a real estate licensee who is the sole principal real estate broker or sole licensed real estate property manager of a registered business name dies or becomes incapacitated, the Real Estate Commissioner may issue a temporary license to the executor, administrator or personal representative of the estate of the deceased real estate licensee or to the court-appointed fiduciary of the incapacitated real estate licensee, or to some other individual designated by the commissioner. The commissioner shall determine whether the temporary licensee may continue to conduct the professional real estate activity of the real estate licensee or may wind up the affairs of the real estate licensee. The term of a temporary license issued under this section may not exceed one year from the date of issuance unless the commissioner, in the discretion of the commissioner, extends the term of the temporary license based on sufficient cause provided by the temporary licensee to the commissioner.
(2) The Real Estate Agency may adopt administrative rules to administer this section or to authorize an individual to conduct or wind up the professional real estate activity on behalf of the deceased or incapacitated principal real estate broker or licensed real estate property manager. [1975 c.746 §7; 2001 c.300 §17; 2005 c.116 §6; 2007 c.319 §8; 2009 c.324 §3; 2017 c.234 §13]