863-024-0003 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) “Licensed property manager” means “licensed real estate property manager” as defined in ORS 696.010. (10) “Management of rental real estate” is defined in ORS 696.010. (11) “Managing principal broker” is defined in HB 3137 section 1. (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, which includes managing rental real estate. (14) "Real estate broker" is defined in ORS 696.010. (15) “Real estate property manager” is defined in ORS 696.010. (16) "Real estate licensee" and "licensee" mean a "real estate licensee" as defined in ORS 696.010. (17) “Sending property manager” means: (a) A licensed property manager with whom an active real estate license is associated before a license transfer; or (b) The authorized principal broker who has supervisory control and responsibility of the licensee before a license transfer. (18) “Registered business name” is defined in ORS 696.010. (19) “Receiving property manager” means: (a) A licensed property manager with whom an active real estate license will be associated after a license transfer; or (b) The authorized principal broker who will have supervisory control and responsibility of the licensee after a license transfer. (20) “Signed” or “Signature” means original or electronic signature as provided by OAR 863 -024-0076. (21) “Timeshare sales agent” as defined in HB 2373 section 2. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS 696.010, ORS 696.020, Chapter 389, (2025 Laws) & Chapter 39, (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 5-2014, 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 7-2008, f. 12-15-08, cert. ef. 1-1-09