863-014-0003 Definitions As used in this division, unless the context requires otherwise, the following definitions apply: (1) "Agency" means the Real Estate Agency with powers pursuant to ORS 696.385. (2) “ Agency-approved form ” means an electronic or paper form approved by the Real Estate Agency. (3) "Authorized principal broker" means a managing principal broker or a principal broker associated with the managing principal broker to whom applicable supervisory control and responsibility has been allocated through a written supervisory agreement as described in ORS 696.310. (4) “Birth month” means the month of a licensee’s or applicant’s date of birth. (5) “ Board ” means the Real Estate Board established pursuant to ORS 696.405. (6) “ Branch office ” is defined in ORS 696.010. (7) "Commissioner" means the Real Estate Commissioner described in ORS 696.375. (8) "Incapacitated" means the physical or mental inability to perform the professional real estate activities described in ORS 696.010. (9) “ Legal name ” means the first name, middle name and last or surname, without the use of initials or nicknames and is the name given at birth or subsequently acquired through marriage, court order or adoption. (10) "Licensed Name" means the name of a real estate licensee as it appears on the current, valid real estate license issued to the licensee pursuant to ORS 696.020. (11) "Managing principal broker" as defined in Chapter 389, (2025 Laws). (12) “ Principal broker ” means “ principal real estate broker, ” as defined in ORS 696.010. (13) "Real estate activity," "professional real estate activity," and "real estate business" mean "professional real estate activity" as defined in ORS 696.010. (14) "Real estate broker" as defined in ORS 696.010. (15) "Real estate licensee" and "licensee" mean a "real estate licensee" as defined in ORS 696.010, unless the context requires otherwise. (16) "Receiving authorized principal broker" means: (a) The managing principal broker with whom an active transferring real estate license will be associated after a license transfer; or (b) A principal broker associated with the managing principal broker to whom applicable supervisory control and responsibility has been allocated through a written supervisory agreement as described in ORS 696.310. (17) “ Registered business name ” is defined in ORS 696.010. (18) "Sending authorized principal broker" means: (a) The managing principal broker with whom an active transferring real estate license is associated before the license transfer; or (b) A principal broker associated with the managing principal broker to whom applicable supervisory control and responsibility has been allocated through a written supervisory agreement as described in ORS 696.310. (19) “ Signed ” or “ Signature ” means original or electronic signature as provided by OAR 863-014-0076. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.020, ORS 696.022, Chapter 234, 2017 Laws & Chapter 389, (2025 Laws) History: REA 4-2025, amend filed 10/09/2025, effective 01/01/2026 REA 1-2017, amend filed 11/17/2017, effective 01/01/2018 REA 4-2014, f. 4-14-14, cert. ef. 4-28-14 REA 7-2011, f. & cert. ef. 11-15-11 REA 6-2011, f. 8-15-11, cert. ef. 9-1-11 REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11 REA 1-2009, f. 12-15-09, cert. ef. 1-1-10 REA 5-2008, f. 12-15-08, cert. ef. 1-1-09