justicedao/ipfs_state_laws huggingface dataset:
863-025-0050 Tenant Ledger (1) Except as provided in section (3) of this rule, a property manager must prepare and maintain at least one tenant's ledger for each tenant or individual from whom the property manager has received any funds under a property management agreement, whether or not the tenant has executed a written rental or lease agreement at the time of the payment of funds to the property manager. (2) A property manager must use the balances of tenant security deposits in individual tenant's ledgers in the monthly reconciliation of the security deposits account as required in OAR 863-025-0025. (3) A property manager must prepare and maintain a separate record of the receipt of funds from prospective tenants who are not tenants at the time of paying the funds to the property manager, who do not pay the funds for a particular rental unit and who do not become tenants after such payment (4) A tenant’s ledger must contain at least the following information: (a) The name of the tenant; (b) The legal description of the property, the mailing address of the property and the unit number, or a unique series of letters and/or numbers that establishes an audit trail to the tenant agreement; (c) The identifying code; (d) For each deposit of funds: (A) The amount of funds received; (B) The purpose of the funds and identity of the person who tendered the funds; and (C) The check number, cash receipt number or a unique series of letters and/or numbers that established an audit trail to the receipt of funds; and (D) The date the funds were deposited; (e) For each disbursement of funds: (A) The date the funds were disbursed; (B) The amount of funds disbursed; (C) The check number or bank-generated electronic tracking number; (D) The payee of the disbursement; (E) The purpose of the disbursement; and (f) The balance after each recorded entry. (5) If a property manager receives a check from a tenant or prospective tenant for rent, tenant's security deposits or fees and the tenancy fails for any reason within three banking days following receipt of the check, the property manager may return the check to the tenant or prospective tenant without first depositing and processing the check through the property manager's client trust account. The property manager must retain a photocopy of the check and a dated receipt for the check in the required records of property management activity. The property manager must record the amount of the check, the dates of receipt and return of the check on the ledger required under section (3) of this rule. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.280 & 696.361 History: REA 8-2008, f.12-15-08, cert. ef. 1-1-09 REA 1-2007, f. & cert. ef. 3-12-07 REA 1-2005, f. 5-5-05, cert. ef. 5-6-05 REA 3-2003, f. 7-28-03, cert. ef. 8-1-03 REA 1-2003(Temp), f. 2-27-03, cert. ef. 2-28-03 thru 8-27-03 REA 1-2002, f. 5-31-02, cert. ef. 7-1-02
863-025-0055 Owner Ledger (1) A property manager must prepare and maintain at least one separate owner's ledger for each property management agreement, for all funds received and disbursed. (2) If a property manager maintains a separate client's trust account for a single owner pursuant to property management agreement, the property manager may maintain either a record of receipts and disbursements or check register in lieu of an owner's ledger. (3) All owner ledgers must contain at least the following information: (a) The owner’s name and identifying code; (b) For each deposit of funds: (A) The amount of funds received; (B) The purpose of the funds and identity of the person who tendered the funds; (C) The check number, cash receipt number or a unique series of letters and/or numbers that established an audit trail to the receipt of funds; and (D) The date the funds were deposited; (c) For each disbursement of funds: (A) The date the funds were disbursed; (B) The amount of funds disbursed; (C) The check number or bank-generated electronic tracking number; (D) The payee of the disbursement; (E) The purpose of the disbursement; and (d) The balance after each recorded entry. (4) A property manager must report in writing to each owner any change in the owner's ledger. A monthly report, showing all receipts and disbursements for the account of the owner during the prior monthly period, is sufficient under this section. A copy of each such report must be preserved and filed in the property manager's records. If an annual report contains information not required to be provided by the property manager under these rules, the property manager must set forth such information separately. (5) A property manager must retain all paid bills and receipts explaining the amount of and purpose for the receipt or disbursement entered in the owner's ledger. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.280 History: REA 1-2017, amend filed 11/17/2017, effective 01/01/2018 REA 8-2008, f.12-15-08, cert. ef. 1-1-09 REA 1-2007, f. & cert. ef. 3-12-07 REA 1-2005, f. 5-5-05, cert. ef. 5-6-05 REA 1-2002, f. 5-31-02, cert. ef. 7-1-02
863-025-0060 Cash Receipts (1) A property manager must prepare a legible written receipt for any cash funds received under a property management agreement. (2) If a property management agreement states that the property manager is responsible for collecting cash from machines located on the owner’s property including, but not limited to, vending and laundry machine, the property manager must prepare and maintain cash receipts as provided in this rule. (3) Cash receipts must be consecutively pre-numbered, be printed in at least duplicate form and must contain: (a) The date of receipt of the cash funds; (b) The amount of the funds; (c) The reason for payment or collection of the funds received; (d) The identifying code of the owner on whose behalf the cash funds were received; (e) The tenant's name or, in the case of collection of cash as provided in section (2) of this rule, the machine(s) the cash was collected from; (f) The payee of the funds; and (g) The name and signature of the individual who actually received the cash and prepared the receipt. (4) A copy of the receipt must be maintained in the property manager's records. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.280 & 696.361 History: REA 8-2008, f.12-15-08, cert. ef. 1-1-09 REA 1-2007, f. & cert. ef. 3-12-07 REA 1-2002, f. 5-31-02, cert. ef. 7-1-02
863-025-0068 Owner Information Request (1) Upon written request from a property owner, a property manager must deliver to the owner the information listed in subsections (a) through (e) of this section for each tenant within five business days of actually receiving the request for information, unless the owner and the manager agree to a different time period. (a) The tenant’s name, mailing address, and phone number; (b) The current rent amount and all scheduled tenant charges; (c) An accounting of all security deposits and fees held for the tenant; (d) The name of each utility provider and the account number for each provider; and (e) The name of each fire and life safety service provider and the account number for each provider. (2) Upon written request from a property owner, a property manager must deliver to the owner copies of the current rental or lease agreement, including all addenda and modifications, within five business days of the date of actually receiving the request for information, unless the owner and the manager agree to a different time period. (3) For the purposes of this rule, to deliver information to the owner means delivering the information by U.S. Mail, by fax, or by sending it electronically to the owner at the address or number provided to the manager by the owner with the request for information. The information is considered delivered on the date it is mailed, faxed, or sent electronically. (4) This rule is in addition to and does not replace OAR 863-025-0070 concerning the final accounting after termination of the property management agreement. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.280 & 606.381 History: REA 2-2010, f. 12-15-10, cert. ef. 1-1-11
863-025-0080 Compliance Reviews (1) The Agency will provide a property manager with written notice at least five business days before conducting a compliance review. (2) A compliance review is completed when the Agency delivers a written notice of completion to the property manager. (3) Except as provided in section (4) of this rule, if the Agency determines that a property manager is not in compliance with ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.890, or OAR chapter 863 after the Agency completes a compliance review, the Agency will allow the property manager at least 30 days from the date the compliance review is completed to cure the noncompliance without sanction. (4) Upon completion of a compliance review, if the Agency has reasonable grounds to believe that the funds of an owner or tenant may be missing, funds may have been misappropriated, or that the property manager’s records are in such a condition that the property manager is placing owners’ and/or tenants’ funds at risk the Agency may immediately initiate an investigation without providing a property manager with an opportunity to cure noncompliance. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.280 History: REA 1-2017, amend filed 11/17/2017, effective 01/01/2018 REA 8-2008, f.12-15-08, cert. ef. 1-1-09 REA 1-2007, f. & cert. ef. 3-12-07 REA 2-2006(Temp), f. 9-11-06, cert. ef. 9-15-06 thru 3-12-07
863-025-0090 Reconciliation Review (1) The Agency will conduct clients’ trust account reconciliation reviews. (2) The Agency will provide a property manager with written notice of a clients’ trust account reconciliation review at least 10 business days before required information and documentation must be provided to the Agency. (3) After the Agency reviews the information and documents provided in a reconciliation review, the Agency will take one of the following actions: (a) If the information and documents are in compliance with statutes and rules, the Agency will provide written notice to the property manager confirming compliance only as to the information and documents provided; (b) If the information and documents indicate that the property manager may be subject to additional documentation and procedural requirements that were not part of the reconciliation review, the Agency will provide written notice to the property manager detailing the Agency’s expectations for compliance on those matters; (c) If the information and documents demonstrate that the property manager is not in compliance, the Agency will provide written notice to property manager that: (A) The property manager must cure all noncompliance issues and provide information and documentation to the Agency that the noncompliance has been cured within 30 days of the date of the notice; and (B) If all noncompliance issues are not cured within 30 days, the Agency may: (i) Issue an educational letter of advice; (ii) Impose sanctions on the property manager; or (iii) Initiate an investigation and not allow additional time for the property manager to cure the noncompliance. (d) If the Agency has reasonable grounds to believe that the funds belonging to others may be missing, funds may have been misappropriated, or that the property manager’s records are in such a condition that the property manager is placing funds belonging to others at risk, the Agency may immediately initiate an investigation without providing a principal broker with an opportunity to cure noncompliance. (4) If a property manager does not respond to a reconciliation review within the time period required in the notice, the Agency may initiate an investigation. (5) The Agency may conduct a reconciliation review: (a) As part of a regular, routine, and random selection of property manager clients' trust accounts for reconciliation mail-in reviews; (b) After a compliance review, when the Agency has determined that a property manager was not in compliance and provided the property manager with an opportunity to cure the non-compliance; and (c) After an investigation has been initiated. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.280 History: REA 4-2025, amend filed 10/09/2025, effective 01/01/2026 REA 1-2022, amend filed 04/27/2022, effective 05/01/2022 REA 1-2017, adopt filed 11/17/2017, effective 01/01/2018
863-027-0000 Applicability and Purpose This division applies to real estate licensees. It describes the methods and procedures the Agency will use to investigate complaints and the process the Agency will follow when taking disciplinary action. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.396 History: REA 1-2017, amend filed 11/17/2017, effective 01/01/2018 REA 9-2008, f. 12-15-08, cert. ef. 1-1-09
863-027-0005 Definitions As used in this division, unless the context requires otherwise, the following definitions apply: (1) "Agency" is defined in ORS 696.010. (2) "Commissioner" is defined in ORS 696.010. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.010 History: REA 9-2008, f. 12-15-08, cert. ef. 1-1-09
863-030-0050 Definitions As used in OAR 863-030-0050 to 863-030-0080, unless the context requires otherwise: (1) “Commissioner” means the Real Estate Commissioner. (2) “Agency” means the Real Estate Agency. (3) “Accommodation,” “assessment,” “common expenses,” “developer,” “facility,” “managing entity,” “negotiate,” “purchaser,” “owner,” “seller,” “timeshare,” “timeshare agreement,” “timeshare period” and “timeshare plan” have the meaning given those terms in ORS 94.803. Statutory/Other Authority: ORS 92, 94 & 696 Statutes/Other Implemented: ORS 94.803 History: REA 5-1987, f. 12-3-87, ef. 1-1-88 REC 1-1984, f. 1-26-84, ef. 2-1-84 Reverted to REC 2-1982, f. 5-3-82, ef. 5-15-82 REC 1-1983(Temp), f. & ef. 8-3-83 REC 2-1982, f. 5-3-82, ef. 5-15-82
863-030-0060 Filing with Commissioner In addition to and at the time of filing the information required by ORS 94.823, the developer of a timeshare plan or the developer's agent shall submit to the commissioner the following: (1) For a timeshare plan having timeshare property comprising only part of the accommodations in a hotel, motel or similar commercial lodging business and where the accommodations that are not part of the timeshare plan are used for transient accommodations concurrently with the operation of the timeshare plan, a copy of any contract for the following: (a) Arrangements for the temporary use for transient accommodations of timeshare property and the temporary use of accommodations regularly used for transient accommodations as timeshare property; and (b) The apportionment of the operating costs of the commercial lodging business that jointly benefit transient accommodations and the timeshare plan, including the apportionment method. (2) For timeshare plans where the use or occupancy of timeshare property is on a first reserved, first served basis rather than by preassignment of a specific timeshare period to a specific purchaser and where timeshare property not timely reserved for use or occupancy by purchasers may be rented to members of the public: (a) A description of the criteria used to determine whether a timeshare property has been timely reserved; (b) Any rules of the timeshare plan or managing entity for the rental of timeshare property to the public; (c) The method of cost apportionment for purchaser and public use or occupancy of timeshare property; and (d) The disposition of all revenues received from public use of timeshare property. Statutory/Other Authority: ORS 92, 94 & 696 Statutes/Other Implemented: ORS 94.823 History: REA 2-2003, f. 6-30-03, cert. ef. 7-1-03 REC 1-1984, f. 1-26-84, ef. 2-1-84 Reverted to REC 2-1982, f. 5-3-82, ef. 5-15-82 REC 1-1983(Temp), f. & ef. 8-3-83 REC 2-1982, f. 5-3-82, ef. 5-15-82
863-030-0065 Presales of Timeshare Plans In cases where timeshare sales agreements are executed before the timeshare property is ready and available for use by the purchaser for the timeshare period bargained for in accordance with the timeshare instrument, the developer shall comply with ORS 94.873 to 94.905 in making such sales. Statutory/Other Authority: ORS 92, 94 & 696 Statutes/Other Implemented: ORS 94.823, 94.873 & 94.878 History: REA 2-2003, f. 6-30-03, cert. ef. 7-1-03 REC 1-1984, f. 1-26-84, ef. 2-1-84 Reverted to REC 2-1982, f. 5-3-82, ef. 5-15-83 REC 1-1983(Temp), f. & ef. 8-3-83 REC 2-1982, f. 5-3-82, ef. 5-15-83
863-030-0075 Exchange Programs (1) A seller or developer who offers an exchange program to a purchaser in conjunction with a timeshare plan shall be responsible for the delivery of the exchange program information, if the offer is made in conjunction with and at the time of the purchase of a timeshare interest. An exchange company offering an exchange program directly to purchasers on its own behalf shall be responsible for the delivery of the exchange program information. The accuracy of the exchange program information is the responsibility of the exchange company and not the buyer or developer. The exchange program information provided to a purchaser shall include the written information required under subsection (2) of ORS 94.826, and the following: The names and addresses of all the officers and directors of the exchange company. (a) Whether the purchaser's contract with the exchange program is separate and distinct from the purchaser's contract with the developer of the timeshare plan; (b) A complete description of all limitations, restrictions or priorities employed in the operation of the exchange program, including but not limited to, limitations on exchanges based on season, unit size or levels of occupancy; and, if the limitations, restrictions, or priorities are not applied uniformly by the exchange program, a complete description of the manner of their application; (c) Whether exchanges are arranged on a space available basis and whether the exchange company guarantees fulfillment of specific requests for exchanges; (d) Whether the fees for participation in the exchange program may be altered and the method for alteration; (e) The names and locations of all accommodations and facilities included in the timeshare plans participating in the exchange program; (f) The number of timeshare accommodations in each timeshare plan which are available for occupancy and which qualify for participation in the exchange program. (g) The number of currently enrolled purchasers and owners at each timeshare plan participating in the exchange program. (h) The disposition made by the exchange company of timeshare periods deposited with the exchange program by purchasers and owners enrolled in the exchange program. (2) The seller of a timeshare plan shall use and represent only the most current information on file with the commissioner under this rule when offering a timeshare plan, including an exchange program, to purchasers. It is sufficient for the developer and the exchange company referred to in this rule to rely upon the most current directory or other publication prepared and distributed by the exchange company, which includes the information referred to in this rule. Statutory/Other Authority: ORS 92, 94 & 696 Statutes/Other Implemented: ORS 94.826 History: REA 2-2003, f. 6-30-03, cert. ef. 7-1-03 REC 1-1984, f. 1-26-84, ef. 2-1-84 Reverted to REC 2-1982, f. 5-3-82, ef. 5-15-82 REC 1-1983(Temp), f. & ef. 8-3-83 REC 2-1982, f. 5-3-82, ef. 5-15-82
863-030-0080 Promotional Programs In conjunction with the filing required by OAR 863-030-0060, the developer shall maintain and store an outline of any promotional program prepared by the developer for the sale of the timeshare plan, for a period of two years following the date of the initial use of the promotional program or a statement that no such program has been prepared. "Promotional program" includes, but is not limited to, the methods of marketing to be employed, including but not limited to sweepstakes, lodging certificates, gifts, awards, premiums, discounts, drawings or contests. Statutory/Other Authority: ORS 92, 94 & 696 Statutes/Other Implemented: ORS 94.823, 94.940 & 94.945 History: REA 2-2003, f. 6-30-03, cert. ef. 7-1-03 REA 5-1987, f. 12-3-87, ef. 1-1-88 REC 1-1984, f. 1-26-84, ef. 2-1-84 Reverted to REC 2-1982, f. 5-3-82, ef. 5-15-82 REC 1-1983(Temp), f. & ef. 8-3-83 REC 2-1982, f. 5-3-82, ef. 5-15-82
863-035-0000 Application and Purpose (1) This division sets forth the requirements and process for licensing timeshare sales agents, as that term is defined in ORS 696.010. (2) The purpose of this division is to specify the requirements for obtaining a timeshare sales agent license. Statutory/Other Authority: ORS 696.022 Statutes/Other Implemented: HB 2373, 2025 Regular Session History: REA 5-2025, adopt filed 12/22/2025, effective 01/01/2026
863-035-0010 Definitions As used in this division, unless the context requires otherwise, the following definitions apply to this division: (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) “Branch office” is defined in ORS 696.010. (6) "Commissioner" means the Real Estate Commissioner described in ORS 696.375. (7) “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. (8) "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. (9) “Managing principal broker” as defined in ORS 696.010 (10) "Real estate activity," "professional real estate activity," and "real estate business" mean "professional real estate activity" as defined in ORS 696.010, which includes selling or offering to sell timeshares. (11) "Real estate licensee" and "licensee" mean a "real estate licensee" as defined in ORS 696.010. (12) "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. (13) “Registered business name” is defined in ORS 696.010. (14) "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. (15) “Signed” or “Signature” means original or electronic signature as provided by OAR 863-024-0076. (16) “Timeshare sales agent” is defined in ORS 696.022. Statutory/Other Authority: ORS 696.022 & ORS 696.385 Statutes/Other Implemented: HB 2373, 2025 Regular Session & HB 3137, 2025 Regular Session History: REA 5-2025, adopt filed 12/22/2025, effective 01/01/2026