justicedao/ipfs_state_laws huggingface dataset:
441-910-0000 Definitions The definitions of terms used in ORS 697.602 and the rules of OAR chapter 441, division 910 are: (1) “Act as a broker” or “brokering” includes any of the following activities undertaken for the payment of money or other valuable consideration: (a) Soliciting or receiving an application from a consumer for a debt management service; (b) Providing a consumer’s name, address or other information that identifies the consumer to a debt management service provider for the purpose of arranging the provision of a debt management service; (c) Referring a consumer to another debt management service provider, if the person is a debt management service provider; or (d) Forwarding or providing a completed application for a debt management service to a debt management service provider. (2) “Advantageous to the consumer” means a plan for a debt management service that places a consumer in a more favorable or beneficial position in relation to the consumer’s debt than if the consumer did not agree to debt management services, taking into consideration the suitability of the proposed services and the customer’s ability to pay for services. A plan under this section includes, but is not limited to, the following: (a) A plan that improves or preserves a consumer’s credit record, history or rating; (b) A plan that enables a consumer to obtain or use credit in the future; or (c) A plan that obtains favorable or beneficial changes to the principal, interest, loan term, or other key terms of an existing debt obligation. (3) “An activity for which a person receives money or other valuable consideration or expects to receive money or other valuable consideration” under ORS 697.602 does not include a negotiation, an offer, an attempt or an agreement to negotiate the sale, exchange, purchase, rental or leasing of real estate by a licensed real estate broker if: (a) The sale price of the real estate is for an amount that is less than the amount of the seller's outstanding obligation on the home loan, commonly known as a short sale; and (b) The real estate broker receives compensation that is usual and customary for a real estate broker and under the terms of an executed real estate contract with the debtor as a real estate seller. (4) “Director” means the Director of the Department of Consumer and Business Services. (5) “Trust account” means an account held at an insured institution taking deposits at its headquarters in Oregon or a branch in Oregon into which all funds received or handled on behalf of Oregon consumers by the debt management service provider are initially deposited. Statutory/Other Authority: ORS 697, 2009 OL ch. 604 & § 21 Statutes/Other Implemented: ORS 697.632 History: FCS 12-2011, f. 12-15-11, cert. ef. 1-1-12 FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10 FCS 5-2009(Temp), f. & cert. ef. 8-14-09 thru 2-9-10 FCS 4-2005, f. 12-8-05, cert. ef. 1-1-06 DC 2-1984, f. & cert. ef. 1-16-84, Renumbered from 814-106-0000
441-910-0030 Renewal A debt management service provider shall renew a registration by completing the following on or before December 1 of the year the debt management service provider’s registration expires: (1) Submitting a renewal request through the Nationwide Mortgage Licensing System; and (2) Paying any required fee for renewal under OAR 441-910-0055. Statutory/Other Authority: ORS 697.840 Statutes/Other Implemented: ORS 697.632 History: FSR 17-2020, minor correction filed 03/23/2020, effective 03/23/2020 FSR 5-2017, f. & cert. ef. 4-14-17 FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10 FCS 4-2005, f. 12-8-05, cert. ef. 1-1-06 FCS 9-1988, f. 4-12-88, cert. ef. 5-1-88 DC 2-1984, f. & cert. ef. 1-16-84, Renumbered from 814-106-0015 DC 16-1983(Temp), f. & cert. ef. 6-28-83
441-910-0050 Update Filings (1) At least ten days prior to a change in ownership, address, bonding company, or information relating to the trust or operating account, the debt management service provider shall notify the director in writing through the Nationwide Mortgage Licensing System of the changes. (2) Within ten days after learning of an arrest of any debt management service provider owner, supervisor, or employee on a charge an essential element of which is fraud, the debt management service provider shall notify the director in writing through the Nationwide Mortgage Licensing System of the known allegations. Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.632 History: FSR 5-2017, f. & cert. ef. 4-14-17 FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10 FCS 4-2005, f. 12-8-05, cert. ef. 1-1-06 FCS 9-1988, f. 4-12-88, cert. ef. 5-1-88 DC 2-1984, f. & cert. ef. 1-16-84, Renumbered from 814-106-0030 DC 16-1983(Temp), f. & cert. ef. 6-28-83
441-910-0055 Fees Payable to the Director (1) A debt management service provider shall pay to the director the following fees: (a) At the initial application for a registration, a nonrefundable application fee of $350. (b) On or before the date in which a debt management service provider’s registration expires, a nonrefundable renewal fee of $175. (2) When the director conducts an examination under ORS 697.732, the debt management service provider shall pay an examination fee of $75 per hour for each person conducting the examination. (3) Notwithstanding section (2) of this rule: (a) When the director conducts an examination under ORS 697.732 outside of Oregon, the debt management service provider shall pay an examination fee of $75 per hour for each person conducting the examination plus the actual cost associated with the examination, including travel. (b) If the work described in section (2) of this rule is performed by a consultant hired by contract for the particular work, the charge payable by the debt management service provider is the actual cost to the director for the contract consultant. Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.732 History: FSR 5-2017, f. & cert. ef. 4-14-17 FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10 FCS 8-2008, f. & cert. ef. 8-28-08 FCS 4-2005, f. 12-8-05, cert. ef. 1-1-06 FCS 9-1988, f. 4-12-88, cert. ef. 5-1-88, Renumbered from 441-910-0100 DC 2-1984, f. & cert. ef. 1-16-84, Renumbered from 814-106-0055
441-910-0080 Joint Trust Accounts An account at an insured institution may not be used jointly as a trust account and an operating account. Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.682 History: FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10 FCS 4-2005, f. 12-8-05, cert. ef. 1-1-06 DC 2-1984, f. & cert. ef. 1-16-84, Renumbered from 814-106-0045
441-910-0091 Initial Counseling Fees If a debt management service provider charges an initial fee for debt management services as allowed under ORS 697.692(1)(a), the debt management service provider shall charge the fee within 120 days of signing a contract with the consumer for debt management services. Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.692 History: FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-910-0094 Contracts for Debt Management Services (1) A debt management service provider may not enter into separate contracts for each debt or obligation due by a consumer. A debt management service provider may enter into a single contract with a consumer for debt management services that specifies the provision of different debt management services for each debt or obligation. If a debt management service provider enters into an agreement with more than one consumer for debt management services, each consumer party to the agreement shall be considered one consumer. (2) For purposes of this rule, “consumer” means an individual that has entered into a contract for debt management services. However, when a contract covers jointly-held debt and the services will be provided to the co-debtors, such as husband and wife or domestic partners, then “consumer” shall be both of the co-debtors and they shall only be charged a single set of fees. (3) Notwithstanding section (2), a debt management provider may enter into separate debt management service contracts and charge separate fees for each spouse and domestic partners if the spouses or domestic partners seek services for individually held debt. The burden will be upon the debt management service provider to establish the basis for charging two sets of fees. Statutory/Other Authority: ORS 697.840 Statutes/Other Implemented: ORS 697.652 History: FSR 18-2020, minor correction filed 03/23/2020, effective 03/23/2020 FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-910-0096 Business Activities Fees for services shall be construed as all fees charged in connection with the debt management service provider transaction or activity, including but not limited to “escrow” fees. Statutory/Other Authority: ORS 697.840Implemented: ORS 697.692 History: FCS 2-2014, f. & cert. ef. 4-8-14
441-910-0099 Fee Schedules Appendix A is incorporated by reference for the purpose of illustrating the fee structure in ORS 697.692. [ED. NOTE: Appendices referenced are available from the agency.] [ED. NOTE: To view attachments referenced in rule text, click here to view rule.] Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.692 History: FCS 6-2015, f. & cert. ef. 9-15-15 FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-910-0135 Loan Modifications (1) A person registered as a debt management service provider may modify or offer to modify the terms and conditions of a consumer’s existing loan or obligation as described in ORS 697.602 if the modification meets all the following conditions: (a) The existing loan or obligation is in default, is in imminent danger of default, or there is an objectively reasonable basis to believe that the loan or obligation will default; (b) The borrower is not required to pay fees normally assessed for a new loan or obligation to receive the modification; and (c) The contract or agreement makes or is anticipated to make permanent or long-term changes to the principal, interest, length of the loan or obligation, or other key terms of the existing loan or obligation. (2) A debt management service provider meeting the requirements of section (1) of this rule may charge the fees allowed under ORS 697.692. (3) Section (1) of this rule shall not be construed to allow a debt management service provider to make or offer to make a new loan or obligation, including residential mortgage loans. (4) Notwithstanding section (3) of this rule, a mortgage loan originator regulated by the director under applicable law may modify or offer to modify the terms and conditions of an existing residential mortgage loan without a registration as a debt management service provider. (5) The term “modifying or offering to modify terms and conditions of an existing loan or obligation” does not include an individual who negotiates with a consumer to modify a loan if: (a) The individual is either an employee or has contracted to represent a lender or loan servicer; (b) The loan modification activity is within the scope of the individual’s responsibilities for the lender or loan servicer; and (c) The individual receives no direct compensation from the consumer for the individual’s services. Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.602 History: FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-910-0150 Disclosure of Pass-Through Charges by Debt Management Service Providers (1) When a debt management service provider is required to disclose information under ORS 697.707(3)(b), the debt management service provider must disclose (a) Any credit report costs that they will pass on to the consumer. (b) Any actual insufficient funds fees the debt management service provider is charged and that they will pass on to the consumer, but in no case may a debt management service provider pass on to a consumer more than $25 in insufficient fund fees. (2) If a debt management service provider does not disclose the information required by section (1) of this rule, a consumer shall not be obligated to pay such costs. Statutory/Other Authority: 2009 OL Ch 604 § 21 Statutes/Other Implemented: ORS 697.707 History: FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-910-0151 Advertisements (1) A debt management service provider shall disclose the debt management service provider’s registration number on an advertisement, presentation or other communication or promotional material designed or made to promote the debt management provider’s services. (2) Failure to meet the requirements of section (1) of this rule constitutes a misrepresentation of the debt management service provider’s qualifications under ORS 697.662 and a dishonest, fraudulent or illegal practices or conduct in a business or profession, or unfair or unethical practices or conduct in connection with a debt management service under ORS 697.752. Statutory/Other Authority: 2009 OL Ch 604 § 21 Statutes/Other Implemented: ORS 697.662 History: FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-910-0200 Records Retained by Registrants (1) In addition to any records required to be kept and maintained under applicable law, a debt management service provider shall retain records on consumers that paid fees and signed a contract for debt management services. Documents that a debt management services must keep under this rule include, but is not limited to, the following: (a) Copies of disclosure documents signed by the consumer prior to entering into a contract for debt management services. (b) Copies of all written agreements for debt management services with a consumer. (c) Copies of written authorizations by a consumer to withdraw fees for debt management services. (d) Copies of contract cancellation notices by either a consumer or the debt management service provider. (e) Copies of budget analyses performed for a consumer and kept in the consumer’s file. (f) Copies of all correspondence or notes of conversations between the debt management service provider and a consumer’s creditor. (g) Copies of all correspondence between the debt management service provider and the consumer. (2) In addition to any records required to be kept and maintained under applicable law, a debt management service provider shall retain general records related to their debt management services. Documents that a debt management services must keep under this rule include, but is not limited to, the following: (a) Copies of the debt management service provider fee schedule for debt management services. (b) A accounting ledger separately showing each consumer trust account, including entries for debits, credits and any interest in excess of banking fees to maintain the trust account. (c) An account ledger separately recording the receipt of all funds the debt management service provider agrees to remit to the creditors of a consumer. (d) An account ledger separately recording the disbursement of all funds the debt management service provider agrees to remit to the creditors of a consumer. (e) The original surety bond that the debt management service provider certifies as correct and true under OAR 441-910-0010. (f) Copies of all advertisements for debt management services. (g) Copies of all consumer complaints and notes, correspondence and memoranda generated as a result of the consumer complaint. (3) A debt management service provider shall maintain records in written form or in a format that can be easily reduced to written form. (4) A debt management service provider shall maintain records for a period of three years after the last entry is made into the record. After the three year period, a debt management service provider may dispose of the records in accordance with applicable law. Statutory/Other Authority: 2009 OL Ch 604 & § 21 Statutes/Other Implemented: ORS 697.672 & 697.682 History: FCS 13-2009, f. 12-18-09, cert. ef. 1-1-10
441-930-0010 Definitions In addition to the definitions in ORS 97.010 and 97.923, the following definitions apply to OAR 441-930-0010 to 441-930-0360: (1) "Applicant" means an entity applying to the director for a certification concerning prearrangement plans or for a registration to serve as a master trustee. (2) “Director” means the Director of the Department of Consumer and Business Services. (3) “Limited Operations Certified Provider” means a certified provider responsible for administering 10 or fewer prearrangement or preconstruction sales contracts which have a cumulative value of less than $20,000. (4) "Registrant" means an entity holding a registration for a master trustee, issued by the director. (5) "Trust Agreement" means any agreement governing a trust fund established to receive the proceeds of a prearrangement or preconstruction plan and administered by a registered master trustee. (6) “Trust fund balance” means the total of all prearrangement or preconstruction contract payments provided through certified providers, installment payments, plus the earnings of the trust fund through investments. Both deposits and accumulated earnings become part of the principal of the trust fund for the subsequent year. (7) "Unconscionable tactics" include, but are not limited to, actions by which a person: (a) Knowingly takes advantage of a customer's physical infirmity, ignorance, illiteracy or inability to understand the language of the agreement; or (b) Knowingly permits a customer to enter into a transaction from which the customer will derive no material benefit. Statutory/Other Authority: ORS 97.926 Statutes/Other Implemented: ORS 97.926 History: FCS 6-2012, f. & cert. ef. 11-9-12 FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11 FCS 5-2007, f. 10-11-07, cert. ef. 1-1-08 FCS 2-2006, f. & cert. ef. 2-22-06 FCS 3-2004, f. & cert. ef. 9-30-04 DO 1-2002, f. & cert. ef. 1-10-02, Renumbered from 440-300-0010
441-930-0030 Applications for Registration of Master Trustees (1) Each entity desiring to register as master trustee shall apply by submitting a written application with the director. (2) The application must contain the following on a form prescribed by the director: (a) Information concerning the applicant's identity and business address(es); (b) A list of all officers, directors, and owners of the business; (c) Personal background and business, professional, or work history of all persons identified in subsection (2)(b) of this rule; (d) Proof that the entity is legally qualified to conduct business in this state, having made the appropriate filings with the Secretary of State; (e) The depositories the applicant will use for funds received under the appointment from the certified provider; (f) Financial statements including: (A) A copy of the applicant's most recent audited financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder equity, and statement of changes in financial position. All financial statements must be prepared by an independent certified public accountant in accordance with generally accepted accounting principles; (B) If the audited financial statement is more than six months old, an internally prepared statement for the most recent month end; and (g) A registration fee as set in OAR 441-930-0270. (3) The director may conduct a background check of any of the officers, directors, and owners applying for registration. The background check may include information solicited from the Oregon State Police. (4) A registration is continuing and remains in effect until it is surrendered by the registrant or revoked or suspended by the director. Statutory/Other Authority: ORS 97.926 & 97.935 Statutes/Other Implemented: ORS 97.935 History: FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11 FCS 2-2006, f. & cert. ef. 2-22-06 FCS 7-2004, f. 12-14-04, cert. ef. 1-1-05 FCS 3-2004, f. & cert. ef. 9-30-04 DO 1-2002, f. & cert. ef. 1-10-02, Renumbered from 440-300-0030
441-930-0035 Renewal Procedure Submission of the annual report pursuant to OAR 441-930-0068 and the fees pursuant to 441-930-0270 shall constitute renewal of the application for registration. Statutory/Other Authority: ORS 97.926 & 97.935 Statutes/Other Implemented: ORS 97.935 History: FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11
441-930-0045 Material Changes, Notice of Civil and Criminal Actions A master trustee must provide information to the director within 30 days of a material change to any information contained in the original application or any documents submitted with or as part of the application, including: (1) Bankruptcy; (2) Civil or criminal actions described on the application; (3) Disciplinary disclosure answers; (4) Change in additional affiliated business entity name; (5) Change in control or ownership; (6) Change in form of organization; (7) Change of address; (8) Change in scope of business; or (9) Change in the depository used by a master trustee. Statutory/Other Authority: ORS 97.926 & 97.935 Statutes/Other Implemented: ORS 97.935 History: FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11
441-930-0065 When Application Deemed Abandoned (1) For purposes of this rule, the term "application" includes all documents, information and fees prescribed for the registration of a master trustee. (2) An application shall be deemed deficient when: (a) The applicant has paid insufficient fees and the director has notified the applicant that fees are insufficient; (b) Documents required to be submitted to the director by OAR 441-930-0030 and 441-930-0035 have not been submitted by the applicant; or (c) The applicant has not submitted information requested by the director. (3) An application shall be deemed abandoned if: (a) The application has been on file for a minimum of 60 days; (b) The application is deficient; and (c) The applicant has failed to respond within 30 days to the director's written notice of warning of abandonment. (4) An applicant whose application has been abandoned may reapply by submitting a new application and registration fee. Statutory/Other Authority: ORS 97.926 & 97.935 Statutes/Other Implemented: ORS 97.935 History: FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11
441-930-0068 Annual Report Each master trustee is responsible for and shall file an annual report with the director by April 1 of each year on forms provided by the director. The report shall cover the preceding calendar year and shall include information on trusted funds: (1) The actual value at the beginning and end of the calendar year; (2) Deposits and withdrawals; (3) Income earned and fees paid; (4) Taxes paid for beneficiaries; (5) Gains and losses; and (6) The balance of all trust accounts as of December 31. Statutory/Other Authority: ORS 97.926 & 97.935 Statutes/Other Implemented: ORS 97.935 History: FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11
441-930-0070 Examination of Master Trustee (1) Each master trustee that is or should be registered may be subject to an annual examination by the director. The director may, conduct an examination at the office of the master trustee or at the office of the director. The examination will be of the condition and resources of the master trustee, including: (a) A review of the minutes of the annual meeting of owners and any special meeting; (b) A review of all board or management meetings; (c) Operating policies and procedures; (d) Security of funds, including documentation demonstrating that all trust funds are received from each certified provider; (e) Investment vehicles; (f) Receipt and dispersal of funds; (g) Investment and banking accounts; (h) Audit reports; and (i) Regulatory audit reports. (2) A master trustee shall pay to the director the fees and costs of examination described in OAR 441-930-0270. (3) At the discretion of the director, a master trustee located outside Oregon may make the books and records available for examination in Oregon. (4) Upon completion of an examination conducted pursuant to OAR 441-930-0070 or 441-930-0260 the director shall issue a written report to the master trustee indicating the examination procedures applied and the examination findings. Statutory/Other Authority: ORS 97.926, 97.935 & 97.947 Statutes/Other Implemented: ORS 97.935 & 97.947 History: FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11 FCS 2-2006, f. & cert. ef. 2-22-06 FCS 3-2004, f. & cert. ef. 9-30-04 DO 1-2002, f. & cert. ef. 1-10-02, Renumbered from 440-300-0070