justicedao/ipfs_state_laws huggingface dataset:
441-225-0020 Termination of Order Authorizing Use of Assumed Business Name or Trade Name The status of an order authorizing use of an assumed business name or a trade name pursuant to OAR 441-175-0171 is dependent upon the license status of the licensee. Therefore, without further action by the Director: (1) The suspension of the license suspends the order to use the assumed business name or trade name; however, the end of suspension of the license automatically reinstates the order authorizing use of the assumed business name or trade name; and (2) The revocation, cancellation, withdrawal or expiration of the license cancels the order authorizing use of the assumed business name or trade name. Statutory/Other Authority: ORS 59.285 Statutes/Other Implemented: ORS 59.165 History: FCS 7-2000, f. & cert. ef. 6-2-00
441-225-0030 License Conditions or Restrictions (1) If the Director makes a finding as specified in ORS 59.205 or 59.215 and determines, in the public interest, that the license of an applicant should be conditioned or restricted, the Director may issue the license: (a) Under the condition that the licensee be subject to heightened supervision by the employing firm for a specified period of time; (b) Under the condition that the licensee retake and pass a specified competency examination within a specified period of time; (c) Limiting the licensee to conducting business in a specified area of the industry; (d) Restricting the licensee from conducting business in a specified area of the industry; or (e) Restricting the licensee from acting as a supervisor for salespersons or investment adviser representatives conducting business in Oregon. (2) If the Director makes a finding as specified in ORS 59.205 or 59.215 and determines, in the public interest, that the license of a licensee should be conditioned or restricted, the Director may issue an order modifying the license: (a) To impose a condition that the licensee is subject to heightened supervision by the employing firm for a specified period of time; (b) To impose a condition that the licensee retake and pass a specified competency examination within a specified period of time; (c) To limit the licensee to conducting business in a specified area of the industry; (d) To restrict the licensee from conducting business in a specified area of the industry; or (e) To restrict the licensee from acting as a supervisor for salespersons or investment adviser representatives conducting business in Oregon. Statutory/Other Authority: ORS 59.285 Statutes/Other Implemented: ORS 59.175, 59.215 & 59.215 History: FCS 9-2001, f. & cert. ef. 9-28-01
441-300-0010 Depository Receipts (1) As used in ORS 645.020, an instrument evidencing receipt of precious metals must comply with ORS Chapter 77 (Warehouse Receipts, Bills of Lading and Other Documents of Title). (2) In addition to stating the quantity, the receipt must state the quality of precious metal, which shall not be less than minimum investment fineness: (a) In the case of the following metals minimum investment fineness is: (A) Gold — .995; (B) Silver — .999; (C) Platinum — .9995; and (D) Paladium — .999. (b) In the case of the following metals in coin form, minimum investment fineness is: (A) Gold — .900; (B) Silver — .900; (C) Platinum — .999; and (D) Paladium — .999. Statutory/Other Authority: ORS 645.020 & 645.205 Statutes/Other Implemented: ORS 645.020 History: FCS 1-1992, f. 1-31-92, cert. ef. 2-1-92 FCS 4-1988, f. 3-22-88, cert. ef. 3-25-88 FCS 2-1987(Temp), f. 9-24-87, ef. 9-28-87
441-300-0020 Authorized Depositories Pursuant to ORS 645.020(2)(a)(D), the Director designates the following depositories: (1) Chase Manhattan Bank, 1 Chase Manhattan Plaza, New York, NY 10081. (2) CitiBank, 399 Park Avenue, New York, NY 10043. (3) Iron Mountain Depository Corporation, 26 Broadway, New York, NY 10004. (4) Irving Trust Company, 1 Wall Street, New York, NY 10015. (5) Republic National Bank of New York, 450 5th Avenue, New York, NY 10018. (6) Swiss Bank Corporation, 4 World Trade Center, New York, NY 10048. (7) Marine Midland Bank of New York, 130 Chambers Street, New York, NY 10007. (8) Wilmington Trust Company, Rodney Square North, Wilmington, DE 19890. (9) Bank of Delaware, 300 Delaware Avenue, Wilmington, DE 19899. Statutory/Other Authority: ORS 645.020 & 645.205 Statutes/Other Implemented: ORS 645.020 History: FCS 1-1992, f. 1-31-92, cert. ef. 2-1-92 FCS 4-1988, f. 3-22-88, cert. ef. 3-25-88 FCS 2-1987(Temp), f. 9-24-87, ef. 9-28-87
441-325-0010 Definitions All words and phrases in OAR chapter 441, division 325, have meaning given them in ORS 650.005. Statutory/Other Authority: ORS 650 Statutes/Other Implemented: ORS 650.005 History: FCS 5-2008, f. & cert. ef. 6-26-08 FCS 6-1989, f. & cert. ef. 5-17-89 FCS 17-1988(Temp), f. & cert. ef. 11-21-88 CC 9-1981, f. & cert. ef. 11-23-81, Renumbered from 815-040-0050 CC 28-1976, f. 4-9-76, cert. ef. 4-16-76 CC 20-1974, f. 12-12-74, cert. ef. 1-11-75 CC 17-1974, f. 5-21-74, cert. ef. 6-11-74
441-325-0020 Pre-Sale Disclosure Requirements (1) No franchisor shall sell or offer to sell a franchise in this state unless the franchisor delivers to the prospective franchisee a disclosure document required by 16 CFR pt. 436. (2) The franchisor must deliver the disclosure document and all proposed agreements relating to the sale of the franchise to the prospective franchisee at least 14 calendar days before the prospective franchisee executes any agreement with the franchisor relating to the sale of the franchise or at least 14 calendar days before the prospective franchisee tenders or is required to tender to the franchisor any consideration for the franchise including refundable deposits, whichever occurs first. (3) Failure to timely provide the disclosure document and all proposed agreements required under this rule is a violation of ORS 650.020(1). (4) Compliance with this rule shall not be construed to exempt any person engaged in the sale of a franchise in this state from making such other disclosures as are material. [Publications: Publications referenced are available from the agency.] Statutory/Other Authority: ORS 650.050 Statutes/Other Implemented: ORS 650.020 History: FCS 5-2008, f. & cert. ef. 6-26-08 FCS 1-1995(Temp), f. & cert. ef. 3-29-95 FCS 9-1994, f. & cert. ef. 8-1-94 FCS 6-1989, f. & cert. ef. 5-17-89 FCS 17-1988(Temp), f. & cert. ef. 11-21-88 CC 17-1974, f. 5-21-74, cert. ef. 6-11-74, Renumbered from 815-040-0055
441-325-0030 Exemptions to Disclosure Requirements The sale of or offer to sell a franchise is exempt from OAR 441-325-0020 if any of the following circumstances apply: (1) The sale or offer to sell is exempt or excluded from delivery of a disclosure document under 16 CFR § 436.8(a). (2) The sale or offer to sell is a renewal, extension, amendment or modification of an existing franchise agreement if there is: (a) No interruption in the operation of the franchise relationship; (b) No material change adverse to the franchisee in the franchise relationship; and (c) No material change adverse to the franchisee in the disclosure information previously furnished to the franchisee. (3) The sale or offer to sell is the sale of or offer to sell one or more additional franchises to an existing franchisee and the franchisor furnished a disclosure document to the franchisee in connection with the prior sale and there has been no material change adverse to the franchisee in the disclosure information previously furnished to the franchisee; (4) The sale or offer to sell is a sale or offer to sell by a franchisee for the franchisee's own account of a franchise or an entire area franchise if: (a) The sale or offer to sell is not effected by or through the franchisor. A sale is not effected by or through a franchisor merely because the franchisor has a right to approve or disapprove a different franchisee, requires the tender of a reasonable transfer fee, or requires appropriate documents executed; (b) The franchisor does not aid in the sale; (c) The sale is an isolated sale, and not a part of a plan of distribution of franchises; and (d) At least 14 calendar days before the prospective purchaser executes any agreement with the franchisor relating to the sale, or tenders or is required to tender to the franchisee any consideration for the franchise or area franchise including any refundable deposit, whichever occurs first, the selling franchisee or subfranchisor has provided the prospective purchaser full access to the books, records, and disclosure documents of the franchise business. (5) The sale or offer to sell is by a court appointed fiduciary or pursuant to a court order. Statutory/Other Authority: ORS 650.050 Statutes/Other Implemented: ORS 650.005, 650.020 & 650.050 History: FCS 5-2008, f. & cert. ef. 6-26-08 FCS 6-1989, f. & cert. ef. 5-17-89 FCS 17-1988(Temp), f. & cert. ef. 11-21-88 CC 9-1981, f. & cert. ef. 11-23-81, Renumbered from 815-040-0060 CC 17-1974, f. 5-21-74, cert. ef. 6-11-74
441-325-0040 Offer or Sale of Franchise The offer or sale of a franchise by a franchisee for his own account or the offer or sale of the entire area franchise owned by a subfranchisor for his own account, is exempted from the provisions of ORS chapter 650 if sale is not effected by or through a franchisor, and the franchisor does not participate or aid in the sale thereof. A sale is not effected by or through a franchisor merely because a franchisor has a right to approve or disapprove a different franchisee. Statutory/Other Authority: ORS 650.050 Statutes/Other Implemented: ORS 650.005 & 650.020 History: FCS 5-2008, f. & cert. ef. 6-26-08 CC 17-1974, f. 5-21-74, cert. ef. 6-11-74, Renumbered from 815-040-0065
441-325-0050 Relationship to Securities Law A franchisor must meet the requirements of ORS 59.005 to 59.451, 59.991 and 59.995 if any part of a franchise offering may be considered a security. Statutory/Other Authority: ORS 650.050 Statutes/Other Implemented: ORS 59.015 History: FCS 5-2008, f. & cert. ef. 6-26-08 FCS 6-1989, f. & cert. ef. 5-17-89 FCS 17-1988(Temp), f. & cert. ef. 11-21-88 CC 17-1974, f. 5-21-74, cert. ef. 6-11-74, Renumbered from 815-040-0070
441-446-0100 Purpose and Scope OAR 441-446-0100 through 441-446-0300 clarify the definitions, rules and requirements pertaining to businesses that engage in the business of selling manufactured structures under ORS chapter 446. Statutory/Other Authority: ORS 446.666 Statutes/Other Implemented: ORS 446.661 & 446.666 History: FCS 6-2013, f. & cert. ef. 11-15-13 Renumbered from 918-030-0400, FCS 7-2008, f. & cert. ef. 7-28-08 BCD 10-2005, f. 4-29-05, cert. ef. 5-1-05
441-446-0110 Definitions As used in OAR 441-446-0100 through 441-446-0300 and ORS chapter 446, unless the context clearly indicates otherwise, the following definitions apply: (1) "Corrected license" means: (a) A limited manufactured structure dealer license that has been amended by the director to reflect a change in the identified operator of a manufactured dwelling park under ORS 446.706; or (b) A manufactured structure dealer license that has been amended by the director to reflect an additional place of business, a change in the manufactured structure dealer’s place of business, or a change in the dealer’s business name under ORS 446.716.(2) "Dealer" means a person who is required to be licensed under ORS 446.691, 446.696, 446.701 or 446.706. (3) "Dealership," "place of business," or "business location" means a physical location within the state where a dealer conducts activity described in ORS 446.671. (4) "Director" means the Director of the Department of Consumer and Business Services. (5) “Manufactured dwelling buyer’s disclosure form” means the form developed in April 2010 by the director as authorized under ORS 446.260 and made available on the Internet at http://bcd.oregon.gov/programs/mdprogram/mh_buyer_disclosure_040110.pdf (6) “Mortgage loan originator” has the same meaning given to that term in ORS 86A.200. (7) “NMLS Consumer Access” means the publicly-available compilation of information on licensed and registered mortgage loan originators maintained by the State Regulatory Registry, LLC and made available on the Internet at http://www.nmlsconsumeraccess.org/. (8) “Residential mortgage loan” has the same meaning given to that term in ORS 86A.200, but for the purposes of OAR chapter 441, division 446, is limited to a personal property loan obtained to purchase a previously owned manufactured dwelling in a manufactured dwelling park. Statutory/Other Authority: ORS 446.666 Statutes/Other Implemented: ORS 86A.203 & 446.666 History: FCS 6-2013, f. & cert. ef. 11-15-13 Renumbered from 918-030-0410, FCS 7-2008, f. & cert. ef. 7-28-08 BCD 13-2006, f. 9-29-06, cert. ef. 10-1-06 BCD 16-2006(Temp), f. 6-30-06, cert. ef. 7-1-06 thru 12-28-06
441-446-0200 Supplemental or Corrected Licenses A supplemental or corrected license shall have the same expiration as the limited or dealer license. Statutory/Other Authority: ORS 446.666 Statutes/Other Implemented: ORS 446.666 & 446.716 History: FCS 6-2013, f. & cert. ef. 11-15-13 Renumbered from 918-030-0420, FCS 7-2008, f. & cert. ef. 7-28-08 BCD 10-2005, f. 4-29-05, cert. ef. 5-1-05
441-446-0203 Exemptions from Mortgage Loan Originator Licensing In addition to the provisions contained in ORS 86A.203(2) through (4) relating to the exemption of a dealer from licensing as a mortgage loan originator, the following conditions apply: (1)(a) Only one limited manufactured structure dealer licensee per manufactured dwelling park may claim the exemption from licensing under ORS 86A.203. (b) A manufactured structure dealer may offer or negotiate the terms of a residential mortgage loan in a manufactured dwelling park where a limited manufactured structure dealer claims an exemption under ORS 86A.203(2)(f), but the manufactured structure dealer may not acquire or hold an ownership interest in the manufactured dwelling park or in the business entity holding the limited manufactured structure dealer license. (2)(a) A licensed or registered mortgage loan originator may offer or negotiate terms for a residential mortgage loan on behalf of a dealer who holds the statutory maximum number of loans set out in ORS 86A.203(3) or (4), as applicable to that dealer. (b) A dealer must verify, whether through NMLS Consumer Access or other means, that the mortgage loan originator retained to complete a transaction under this section meets the requirements of ORS 86A.200 to ORS 86A.239. (c) This section does not waive any other legal requirements that may apply to a dealer. (3) For purposes of establishing the maximum number of residential mortgage loans a dealer may offer or negotiate without a mortgage loan originator license, this rule applies to residential mortgage loans made on or after July 31, 2010. Statutory/Other Authority: ORS 446.666 Statutes/Other Implemented: ORS 86A.203 History: FCS 6-2013, f. & cert. ef. 11-15-13
441-446-0230 Recordkeeping Requirements for Residential Mortgage Loans In addition to the recordkeeping requirements contained in 441-446-0210, a dealer that takes an application for a residential mortgage loan must prepare and maintain all documentation related to the loan, including but not limited to the following: (1) A copy of each loan application form signed by the borrower; (2) A copy of all documentation relied upon in making the loan decision; (3) A copy of all documents submitted by a borrower to the dealer in connection with the loan application; (4) A copy of any documents noting approval or denial of a borrower’s mortgage loan application; (5) A copy of all correspondence with the borrower in writing or in a format easily converted to writing; (6) A copy of all Truth in Lending Act disclosure statements required by Regulation Z, 12 C.F.R. Part 1026; (7) A copy of an authorization signed by the borrower to release credit information to the dealer for evaluating whether to extend credit to the borrower; (8) A copy of every credit report accessed by the dealer in connection with the loan; (9) A copy of the retail installment contract signed by both parties, the note, or a copy of another form of agreement signed by the parties evidencing the terms of the transaction for the manufactured structure; (10) A copy of the purchase agreement signed by the borrower; (11) A copy of the ownership documents filed with the director under ORS 446.561 et seq.; and (12) A copy of the borrower’s payment schedule and a copy of receipts for loan payment received by the dealer. Statutory/Other Authority: ORS 446.666 Statutes/Other Implemented: ORS 86A.203 History: FCS 6-2013, f. & cert. ef. 11-15-13
441-446-0300 Violations In addition to any grounds for sanction specified in ORS chapter 446, the director may deny, suspend, revoke or place conditions on a dealer’s license if a dealer: (1) Fails to maintain records or any other requirements under OAR 441-446-0210; (2) Engages in conduct which constitutes a Class A misdemeanor or any felony arising out of actions related to the selling, brokering, trading or exchanging of manufactured structures or conviction of such Class A misdemeanor of felony; or (3) Engages in conduct constituting an unlawful practice under ORS 646.607 or 646.608; (4) Fails to maintain the required surety bond or letter of credit under ORS 446.721; or (5) Engages in a pattern or practice of conduct that violates any provision of ORS 86A.203 to 86A.239, 446.003 to 446.200, 446.225 to 446.285, 446.395 to 446.420, and 446.561 to 446.756 or any rules adopted thereunder. Statutory/Other Authority: ORS 446.741 Statutes/Other Implemented: ORS 446.666, 446.741, 446.746, 446.751 & 446.756 History: FCS 6-2013, f. & cert. ef. 11-15-13 Renumbered from 918-030-0490, FCS 7-2008, f. & cert. ef. 7-28-08 BCD 10-2005, f. 4-29-05, cert. ef. 5-1-05
441-500-0030 Charges for Special Examinations and Special Attention for Banks, Trust Companies, Savings Banks, Extranational Institutions and Savings Associations (1) Applicability. This rule applies to a banking institution, non-Oregon institution, savings institution and a holding company of an Oregon bank and trust company, but not a federal bank. (2) In addition to the schedule of fees adopted in OAR 441-500-0020, "Actual costs" as charged for special examinations includes: (a) $75 an hour for each of the Director's staff assigned to the special examination for time performing the examination, writing reports and related administrative tasks; (b) Reasonable actual cost to the Director for a consultant hired for the particular assignment or for other state staff assigned to the matter; and (c) Reasonable actual travel and per diem costs incurred by the Director or staff. Statutory/Other Authority: ORS 706.544 & 715.045 Statutes/Other Implemented: ORS 706.544 & 715.045 History: FCS 1-2008, f.& cert. ef. 1-28-08 FCS 1-1998, f. & cert. ef. 3-31-98, Renumbered from 441-505-0030 Suspended by FCS 3-1997(Temp), f. 10-6-97 FID 2-1986, f. & cert. ef. 3-7-86, Renumbered from 805-002-0110
441-505-1110 References to Federal Statutes and Regulations Pursuant to ORS 706.015, references in the Bank Act to Federal statutes and regulations shall be construed to refer to statutes or regulations in effect on June 30, 2007, unless specifically provided otherwise in the Bank Act. Statutory/Other Authority: ORS 706.015 Statutes/Other Implemented: ORS 706.015 History: FCS 6-2007, f. & cert. ef. 10-22-07 FCS 1-2003, f. & cert. ef. 10-06-03
441-505-1120 Report of Oregon Deposits (1) Reporting Unit. This rule applies to: (a) All Oregon commercial banks and Oregon savings banks; (b) All non-Oregon institutions and federal banks that hold deposits of the State of Oregon or any political subdivision thereof where the institution or bank meets the requirements of ORS 714.045; and (c) All insured institutions or trust companies authorized to take deposits in this state or to do trust business in this state that certify under ORS 295.005(2)(c) to the State Treasurer that the insured institutions or trust companies will furnish reports of Oregon deposits. (2) Report date. A report shall be filed with the Director showing deposits as of June 30 of each year. A report filed electronically with the federal supervisory agency is considered filed with the Director. (3) Report Form and Contents. A copy of the Summary of Deposits filed with the FDIC shall be used for reporting deposits, provided that: (a) An Oregon chartered commercial or savings bank shall file its complete Summary of Deposits Report; and (b) Non-Oregon institutions and federal banks complying with this rule shall provide deposits for each Oregon branch. (4) The director reserves the right to call for additional deposit reports by Order. Statutory/Other Authority: ORS 714.075 Statutes/Other Implemented: ORS 714.075 History: FCS 6-2007, f. & cert. ef. 10-22-07 FCS 1-1998, f. & cert. ef. 3-31-98, Renumbered from 441-510-0341 FCS 3-1997(Temp), f. & cert. ef. 10-6-97
441-505-1130 Call Reports (1) Reporting Unit. This rule applies to banks, other than federal banks; and extranational institutions engaged in banking business in this state. (2) Reports Called For. The Director calls for a quarterly report of condition, earnings and dividends. (3) Report Form and Contents. The report shall be a copy of the Federal Financial Institutions Examination Council report of condition and income form that the institution is required to file with its federal regulator (hereafter “Report”). (a) A reporting unit that submits a hard copy Report to its federal supervisory agency shall concurrently file a copy of the same report with the Director. (b) A reporting unit that files its Report electronically with the federal supervisory agency shall notify the Director in writing that it makes such electronic filings. Only one notice to the Director is required, unless the reporting unit changes its method of reporting to the respective federal supervisory agency, in which case it shall notify the Director of the change. Statutory/Other Authority: ORS 706.630 Statutes/Other Implemented: ORS 706.630 History: FCS 6-2007, f. & cert. ef. 10-22-07 FCS 1-1998, f. & cert. ef. 3-31-98, Renumbered from 441-510-0342 FCS 3-1997(Temp), f. & cert. ef. 10-6-97
441-505-1150 Report of Trust Assets (1) Reporting Unit. All companies doing trust business in Oregon and all Oregon banks having trust company powers shall file a Report of Fiduciary Activity (“Report”) with the Director. (2) The Report shall be a copy of Schedule RC-T — Fiduciary and Related Services to the Federal Financial Institutions Examination Council call report form which the institution is required to file with its federal supervisory agency. (3) The Report shall be filed with the Director with the same frequency and concurrently with the federal filing. Reports filed electronically with the federal supervisory agency are considered filed with the Director. Trust companies not affiliated with a depository institution must file a hard copy of the Report with the Director. Statutory/Other Authority: ORS 706.630 Statutes/Other Implemented: ORS 706.630(4) History: FCS 6-2007, f. & cert. ef. 10-22-07 FCS 1-2002, f. & cert. ef. 5-23-02 FCS 1-1998, f. & cert. ef. 3-31-98, Renumbered from 441-510-0344 FCS 3-1997(Temp), f. & cert. ef. 10-6-97
441-505-1160 Trust Company Financial Statements (1) All companies doing trust business in Oregon must file with the Director annual financial statements prepared in accordance with generally accepted accounting principles. (2) The financial statements must be reviewed by an independent accountant. If the company for its own business purposes has audited financial statements prepared, a copy of the audited financial statements may be filed. (3) The financial statements must be filed no later than 120 days after the end of the company’s fiscal year. (4) A depository institution doing trust business in Oregon is not required to file financial statements for its trust business separate from its annual financial statements filed with the director. Statutory/Other Authority: 706.790 Statutes/Other Implemented: 706.630 History: FCS 6-2007, f. & cert. ef. 10-22-07