reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.010 - Definitions.

As used in this chapter:
(1)(a) "Broker or facilitator" means a person that conducts a business in which, for a fee or consideration, the person:
(A) Processes, receives or accepts for delivery to a lender an application for a consumer finance loan, individually or in conjunction or cooperation with another person;
(B) Accepts and delivers to a lender all or most of the proceeds of a payment made in connection with a consumer finance loan; or
(C) Assists in making a consumer finance loan in a material capacity other than as a lender.
(b) "Broker or facilitator" does not include a mortgage broker, as that term is defined in ORS 86A.100, a mortgage loan originator, as that term is defined in ORS 86A.200, or an employee of a licensee.
(2) "Consumer finance loan" means a loan or line of credit that is unsecured or secured by personal or real property and that has periodic payments and terms longer than 60 days.
(3) "Licensee" means a person licensed under this chapter.
(4) "Nationwide Multistate Licensing System" means a system that the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, or assignees of the Conference of State Bank Supervisors or the American Association of Residential Mortgage Regulators, develop and maintain for participating state agencies to use in licensing and registering mortgage loan originators, as defined in ORS 86A.200, and other persons that provide nondepository financial services. [Amended by 1985 c.762 §106; 1987 c.373 §66; 1993 c.744 §26; 2007 c.603 §1; 2009 c.863 §33; 2010 c.23 §§29,30; 2019 c.106 §5]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.015 - Construction of chapter.

Nothing in this chapter shall be construed or held to limit the rights, powers or privileges granted to any person by any law of this state or of the United States whereby the loaning of money or extending of credit is regulated, provided that such person is operating in compliance with the provisions of such law. [Formerly 725.040]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.045 - Prohibition on making certain consumer finance loans without license; application of license requirement.

(1)(a) Except as provided in ORS 82.010, 82.020 and 82.025 and subject to paragraph (b) of this subsection, a person may not conduct a business in which the person makes a consumer finance loan of $50,000 or less or acts as an agent, broker or facilitator for a person that makes a consumer finance loan of $50,000 or less unless the person first obtains a license under this chapter.
(b) If at the time a person made a consumer finance loan of $50,000 or less the person did not have a license that the Director of the Department of Consumer and Business Services issued under this chapter, the consumer finance loan is void, and the person, or a successor, assignee or affiliate of the person, may not deposit a borrower’s or consumer’s check, withdraw moneys from a borrower’s or consumer’s account or otherwise collect, receive or retain principal, interest, a fee or a charge related to or in connection with the consumer finance loan.
(2) This section does not apply to a person that does not collect a fee or consideration in connection with a consumer finance loan or an application for a consumer finance loan and that:
(a) Does not interact directly with a borrower or consumer;
(b) Acts solely as an intermediary between the borrower or consumer and a lender or a person that conducts business as a broker or facilitator for a consumer finance loan;
(c) Transmits information, electronically or otherwise, concerning the borrower or consumer to a lender or a person that conducts business as a broker or facilitator for a consumer finance loan; or
(d) Prepares, issues or delivers a negotiable instrument to a lender or a person that conducts business as a broker or facilitator for a consumer finance loan for subsequent delivery to a borrower or consumer.
(3) A person may collect principal, interest, a fee or a charge related to or in connection with a consumer finance loan if the license the director issued under this chapter lapsed inadvertently or by mistake. [1989 c.424 §2; 2007 c.603 §2; 2010 c.23 §31; 2015 c.490 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.050 - Prohibited transactions.

No licensee shall take:
(1) Any power of attorney from any borrower, except a power of attorney to effectuate the transfer of the ownership of any motor vehicle at the time of making a loan on a motor vehicle.
(2) Any note or promise to pay which does not accurately disclose the actual amount of the loan, the time for which it is made, the rate of interest charged or the schedule of payments agreed upon, or any instrument in which blanks are left to be filled in after execution. [Amended by 1955 c.71 §3; 1971 c.450 §2; 1979 c.88 §41; 1981 c.412 §13]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.060 - False advertising prohibited.

No licensee or other person shall advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, distributed or broadcast in any manner whatsoever any statement or representation with regard to the rates, terms or conditions for loans which is false, misleading or deceptive.
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.120 - Application for license; annual fee.

(1) Application for a license required under ORS 725.045 shall be in writing in a form prescribed by the Director of the Department of Consumer and Business Services. The application shall contain the name and both the residence and business addresses of each individual applicant, of each member of a partnership or association that applies for a license and of each officer or director of a corporation that applies for a license. The application shall also contain the county and city with street and number, if any, where the business is to be conducted and any other information the director may require.
(2) An applicant, at the time the applicant applies for a license under this section, shall pay to the director a license fee determined under ORS 725.185 for the period terminating on the last day of the current calendar year. If the director denies the applicant a license for cause or if the applicant withdraws the application after the director investigates the applicant, the director shall refund the license fee paid under this subsection, less an amount that reflects the director’s administrative and investigative costs for the application. [Amended by 1955 c.71 §4; 1977 c.135 §49; 1985 c.762 §114; 2009 c.541 §43]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.140 - Issuance of license; conditions.

(1) Conditioned upon an applicant’s compliance with this chapter and the payment of the license fee, the Director of the Department of Consumer and Business Services, within 90 days after the date the applicant filed the application described in ORS 725.120, shall disapprove the application or shall issue and deliver a license to the applicant to make loans in accordance with this chapter at the location specified in the application. However, before issuing a license, the director must first find upon investigation that:
(a) The financial responsibility, experience, character and general fitness of the applicant, and of the applicant’s members if the applicant is a partnership or association, and of the applicant’s officers and directors if the applicant is a corporation, are such as to command the confidence of the community and to warrant the belief that the business will be operated honestly, fairly and efficiently within the purposes of this chapter;
(b) Grounds to disapprove an application described in ORS 725.145 do not exist and that, in the judgment of the director, no other reasons or conditions warrant the refusal to grant a license; and
(c) The applicant obtained a corporate surety bond that meets the requirements specified in ORS 86A.227 if the applicant employs or intends to employ a mortgage loan originator, as defined in ORS 86A.200, or is otherwise subject to ORS 86A.200 to 86A.239.
(2) A license issued under this section is a continuing license and remains in full force and effect until the licensee surrenders the license as provided in ORS 725.250 or the director revokes or suspends the license as provided in ORS 725.230.
(3) The director, consistent with the requirements of this chapter, may issue a license under this section by means of an agreement with the Nationwide Multistate Licensing System and may, by rule, conform the practices, procedures and information that the Department of Consumer and Business Services uses to issue a license to the requirements of the Nationwide Multistate Licensing System. [Amended by 1955 c.71 §5; 1963 c.167 §1; 1977 c.135 §50; 1985 c.762 §115; 1999 c.469 §2; 2009 c.863 §34; 2019 c.106 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.145 - Disapproval of application for license.

The Director of the Department of Consumer and Business Services may disapprove an application for a license if a person named in the application submitted pursuant to ORS 725.120:
(1) Is insolvent, either in the sense that the person’s liabilities exceed the person’s assets or that the person cannot meet the person’s obligations as they mature, or is in such financial condition that the person cannot continue in business with safety to the person’s customers;
(2) Has engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession;
(3) Has knowingly or repeatedly violated or failed to comply with any provision of the Oregon Bank Act, the Oregon Credit Union Act, the Oregon Consumer Finance Act or the Pawnbrokers Act, or any administrative rule or order adopted under an Act identified in this subsection;
(4) Has been convicted of a crime, an essential element of which is fraud;
(5) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving an aspect of the consumer finance business;
(6) Is the subject of an order of the director subjecting the person to a civil penalty under the Bank Act or ORS chapter 723 or this chapter, or removing the person from an office in any entity regulated under the Bank Act or ORS chapter 723 or this chapter; or
(7) Is the subject of an order that was issued by the regulatory authority of another state or of the federal government with authority over banking institutions, savings associations, credit unions or consumer finance companies, that was entered within the past five years and that subjects the person to a civil penalty or removes the person from an office in a state banking institution, a national bank, a state or federal savings association, a state or federal credit union or a consumer finance company. [1977 c.135 §48; 1985 c.762 §116; 1987 c.373 §68; 1987 c.650 §11; 2009 c.541 §44; 2011 c.597 §293]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.150 - Notice of disapproval of application.

If the Director of the Department of Consumer and Business Services disapproves an application for a license, the director shall notify the applicant immediately, giving the reason for the disapproval. [Amended by 1985 c.762 §117; 1987 c.650 §12]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.160 - Form of license; posting; transferability.

The license shall be in a form prescribed by the Director of the Department of Consumer and Business Services and shall state the address at which the business is to be conducted and the full name of the licensee. The license shall be kept conspicuously posted in the place of business of the licensee and shall not be transferable or assignable. [Amended by 1955 c.71 §6; 1985 c.762 §118]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.185 - License fees; fees for extra service.

(1) Each licensee shall pay to the Director of the Department of Consumer and Business Services each year the license fee set in a schedule the director adopts by rule. The fee shall be paid by the date set by the director in the rule establishing the schedule.
(2) In addition to any license fee collected under subsection (1) of this section, whenever the director devotes any extra attention to the affairs of a licensee, either upon determination by the director or upon request of the licensee, the fee for the extra service shall be the actual cost of the extra service.
(3) The director shall set or change the fee schedule described in subsection (1) of this section after considering:
(a) The amount of other moneys available for the director to use in performing the director’s duties;
(b) The costs the director will incur in performing the director’s duties in the year in which the director will collect the fee; and
(c) The amount the director needs to establish and maintain a reasonable emergency fund. [1985 c.762 §119; 1987 c.171 §7; 1987 c.373 §69; 2009 c.541 §45]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.190 - Report of licensee; penalty for failure to report.

(1) On or before February 15 of each year, or on such other date established by the Director of the Department of Consumer and Business Services by rule, every licensee shall file a report with the director. The report shall contain relevant information required by the director concerning the business and operations during the preceding calendar year of each licensed place of business conducted by the licensee within the state. The report shall be in the form prescribed by the director.
(2) Every licensee who fails to file any report required under this chapter within the time specified may be subject to a penalty of $10 per day for each day’s delay. [Amended by 1955 c.71 §8; 1973 c.428 §2; 1985 c.762 §120; 1999 c.469 §3; 2005 c.21 §13]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.210 - Additional licenses to same applicant.

No licensee shall transact any business within the scope of this chapter except under the name and at the place of business named in the license. The Director of the Department of Consumer and Business Services may issue more than one license to the same licensee if the licensee complies with all the provisions of this chapter governing an original issuance of a license for each such additional license. However, each additional license shall be for a separate and distinct place of business for making and completing loans as provided in this chapter. [Amended by 1985 c.762 §121]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.220 - Change of place of business.

(1) When a licensee wishes to change the place of business to another location, the licensee shall submit written notice thereof, together with the license, to the Director of the Department of Consumer and Business Services. The director shall amend the license of the licensee to reflect the new location and shall return the amended license to the licensee.
(2) A change in the place of business of a licensee to a location outside the city named in the original license may be allowed under the same license only if the director determines that the new location will serve substantially the same community as is served at the location named in the original license.
(3) If the director disapproves the proposed new location of the business, the director shall immediately notify the licensee of the disapproval and return the license unchanged to the licensee. [Amended by 1955 c.71 §9; 1985 c.762 §122; 1987 c.650 §13; 1999 c.469 §4]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.235 - Procedure for license denial, revocation or suspension.

(1) If the Director of the Department of Consumer and Business Services denies a license, or proposes to revoke or suspend a license, opportunity for hearing shall be accorded as provided in ORS chapter 183.
(2) Conduct of hearings, issuance of orders and judicial review of rules and orders shall be as provided in ORS chapter 183. [1971 c.734 §176; 1985 c.762 §124; 1987 c.650 §14]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.250 - Surrender of license.

(1) Any licensee may surrender any license issued to the licensee by delivering written notice to the Director of the Department of Consumer and Business Services that the licensee thereby surrenders the license.
(2)(a) A licensee shall surrender any license issued to the licensee under which there has been no material loan activity for a period of 12 consecutive months.
(b) For purposes of this subsection, "material loan activity" includes new loans, refinancing of existing loans or formal extensions of existing loan repayment provisions in excess of 30 days.
(3) Surrender of a license under subsection (1) or (2) of this section shall not affect the licensee’s civil or criminal liability for acts committed prior to surrender. [Amended by 1985 c.762 §125; 1999 c.469 §5]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.260 - Effect of revocation, suspension or surrender of license.

The revocation, suspension or surrender of any license shall not impair or affect the rights or obligations of any preexisting lawful contract between the licensee and any borrower. [Amended by 1955 c.71 §11]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.270 - Reinstatement of revoked license; fee.

The Director of the Department of Consumer and Business Services may reinstate any revoked license upon the licensee’s compliance with the provisions of law or any demand, ruling or requirement made by the director under this chapter. For such reinstatement of license the licensee shall pay a fee of $25. [Amended by 1985 c.762 §126]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.310 - Investigation and examination by director.

(1) For discovering violations of this chapter and securing information required by the Director of the Department of Consumer and Business Services under this chapter, the director at any time may investigate the loans and business, including the books, accounts, records and files used in the loans and business, of every person licensed or required to be licensed under this chapter.
(2) For purposes of subsection (1) of this section:
(a) A person licensed or required to be licensed under this chapter shall give the director free access to the person’s place of business, books, accounts, safes and vaults.
(b) The director may:
(A) Make an investigation without prior notice to the person being investigated.
(B) Compel the attendance of witnesses and examine the witnesses under oath.
(C) Require the production of documents or records.
(3) Each person examined under this section shall pay the actual cost of an investigation to the director. The director may maintain an action for the recovery of the costs in any court of competent jurisdiction. [Amended by 1955 c.71 §12; 1973 c.428 §3; 1981 c.412 §14; 1985 c.762 §127; 1987 c.215 §15; 1999 c.469 §6; 2005 c.338 §24]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.312 - Inspection and examination of licensees.

(1) Each licensee is subject to inspection by the Director of the Department of Consumer and Business Services. The director shall conduct an examination of each licensee to determine whether the licensee is complying with the provisions of this chapter and rules adopted thereunder and to secure information required by the director under this chapter. The examinations of a licensee shall be conducted not more than 24 months apart.
(2) In addition to examinations under subsection (1) of this section, the director may conduct examinations of a licensee at other times as the director deems necessary.
(3) For purposes of any examination under this section:
(a) The director shall have free access to the place of business and to the books, accounts, safes and vaults of the licensee.
(b) The director may conduct an examination without prior notice to the licensee.
(c) The director shall have authority to examine under oath all persons whose testimony the director may require in order to conduct the examination. [1987 c.215 §14]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.315 - Removal or suspension of officer of licensee.

If the Director of the Department of Consumer and Business Services finds that any officer or director of a licensee is dishonest, reckless or incompetent, or refuses to comply with the law, rules of the director or any written requirements or instructions of the director, the director may issue a written order to the individual removing or suspending the individual from the individual’s office or position. [1977 c.135 §52; 1985 c.762 §128]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.317 - Removal of officer of licensee for reasons stated in ORS 725.145.

The Director of the Department of Consumer and Business Services by order may direct a licensee to remove an officer or director of the licensee from office for any of the reasons stated in ORS 725.145. [1987 c.650 §16]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.319 - False information in course of investigation or examination prohibited.

A person may not knowingly give or cause to be given to the Director of the Department of Consumer and Business Services any document or any oral or written statement or report that is false in any material respect, in the course of any investigation or examination by the director under this chapter. [1987 c.215 §12]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.320 - Rulings of director.

The Director of the Department of Consumer and Business Services may make such specific rulings, demands and findings as may be necessary for the proper conduct of the business regulated by this chapter and the enforcement of this chapter in addition to and not inconsistent with this chapter. [Amended by 1985 c.762 §129]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.330 - Books and records of licensee.

Subject to the provisions of this chapter, the Director of the Department of Consumer and Business Services may prescribe the form of the books and records to be kept by the licensee. All such books and records shall be preserved and available for at least two years after making the final entry on any loan recorded therein. [Amended by 1985 c.762 §130]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.347 - Open-end credit card plan authorized.

(1) As used in this section, "open-end credit card plan" means an open-end loan plan under which:
(a) The licensee issues one or more cards, checks, letters of credit or other devices to the borrower; and
(b) The borrower may obtain advances from the licensee, either directly or in connection with purchases of goods and services, by using the card, check, letter of credit or other device.
(2) A licensee may transact business and extend credit to borrowers under an open-end credit card plan. A licensee may offer an open-end credit card plan in conjunction with noncredit features or services available to the borrower through use of the card or other device. The noncredit features or services shall not be subject to regulation under this chapter.
(3) The agreement between the licensee and the borrower relating to the open-end credit card plan shall conform to the requirements of ORS 725.345 (5), except that the borrower’s name and address and the date of the agreement need not be included in the agreement if the borrower has submitted a signed and dated application to the licensee seeking the issuance of one or more cards or other devices. [1985 c.370 §4; 2007 c.603 §5]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.349 - Application of ORS 725.210 to certain loans and advances.

On and after September 20, 1985, ORS 725.210 applies to loans and advances pursuant to ORS 725.345, provided that a licensee that applied for and received a license before September 20, 1985, for a location outside the State of Oregon may receive and hold one or more licenses relating to locations outside the State of Oregon, including one additional license for a location not licensed on or before September 20, 1985, and may transact business at such licensed locations. With respect to such a licensee only, loans and advances under open-end loan plans or open-end credit card plans shall be considered to be business transacted where the applications or agreements in connection with the loan plans or credit card plans are approved by the licensee. [1985 c.370 §1a]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.355 - Prohibition against assignment of earnings for loan security.

(1) As used in this section, "earnings" means salary, wages or other compensation for service.
(2) No licensee shall take an assignment of earnings as payment of or as security for payment of a loan. An assignment in violation of this subsection is unenforceable by the assignee and revocable by the assignor. Nothing in this subsection is intended to prevent an employee from authorizing deductions from the earnings of the employee if the authorization is revocable.
(3) For the purpose of this section, a sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is considered a loan to the seller, secured by an assignment of earnings. [1971 c.232 §3]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.360 - Licensee duty toward borrowers.

Every licensee shall:
(1) Deliver to the borrower at the time any loan is made a statement in the English language showing in clear and distinct terms:
(a) The name and address of the borrower and of the licensee.
(b) The amount and the date of the loan and of its maturity or terms of payment.
(c) The rate of interest agreed upon or consideration to be charged therefor.
(d) The nature of the security for the loan, if a lien on personal property has been taken by chattel mortgage, bill of sale, collateral agreement or otherwise.
(2) Make available to the borrower upon request a plain and complete receipt for all payments made on account of any such loan at the time such payments are received by the licensee, specifying the amount applied to interest, if any, the date to which the interest is paid, the amount applied to principal, if any, and the unpaid principal balance of such loan, if any remains.
(3) Permit payment to be made in advance in any amount on any loan at any time.
(4) Upon repayment of the loan in full or upon renewal thereof, mark indelibly such obligation signed by the borrower with the word "Paid" or "Renewed." In the case of repayment in full the licensee also shall do the following:
(a) To the extent and in the manner required by law, release any mortgage or security agreement that no longer secures a loan, and restore any security or collateral.
(b) Release any Uniform Commercial Code filing that no longer secures a loan, to the extent and in the manner required by ORS 79.0513.
(c) Return any assignment given by the borrower.
(d) Return to the borrower the canceled note evidencing the loan or alternatively, acknowledge in writing to the borrower that the loan has been repaid. [Amended by 1971 c.450 §4; 1973 c.428 §5; 1975 c.567 §3; 1987 c.650 §17; 2001 c.445 §182]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.370 - Lawful loans in other jurisdictions not affected by this chapter.

This chapter does not affect loans made or payable in other jurisdictions and lawful where made or payable. [Amended by 1979 c.88 §42; 2007 c.472 §1; 2010 c.23 §33]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.385 - Duty to give notice of defalcation to law enforcement officer, director; audit.

(1) A director or officer of a licensee who has reason to believe that a defalcation has occurred at any office of the licensee shall give the information to the appropriate local, state or federal law enforcement officer having jurisdiction of the violation.
(2) A licensee shall notify the Director of the Department of Consumer and Business Services of any defalcation that occurs at any office of the licensee within five days after the discovery of the defalcation. When directed by the director to do so, the licensee shall cause an audit to be made of the business of the licensed office where the defalcation occurred, in accordance with the director’s instructions. [1979 c.88 §38; 1987 c.650 §18]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.395 - Director to give notice of suspected defalcation to law enforcement agency; exceptions.

If the Director of the Department of Consumer and Business Services has reason to believe that a defalcation has occurred at an office of a licensee, the director may give the information concerning the violation to the appropriate federal, state or local law enforcement agency having jurisdiction of the violation. This section does not apply, however, if the licensee has reported the information to the appropriate law enforcement officer under ORS 725.385. [1979 c.88 §40; 1985 c.762 §133]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.400 - Cease and desist order.

(1) The Director of the Department of Consumer and Business Services may issue and serve upon the following persons an order to cease and desist from a violation when the director has reasonable cause to believe that the person to whom the order is directed is violating, has violated or is about to violate any provision of this chapter or a rule or order of the director:
(a) A licensee.
(b) A director, officer, employee or agent of a licensee.
(c) A person acting as a consumer finance lender without a license.
(2) An order under subsection (1) of this section must include the following:
(a) A statement of the facts constituting the violation.
(b) A provision requiring the person named in the order to cease and desist from the violation. The provision may be mandatory or otherwise.
(c) The effective date of the order.
(d) A notice to the person named in the order of the right to a contested case hearing under ORS chapter 183.
(3) An order under this section is effective 30 days after the date of the order unless the person named in the order requests a hearing on the order.
(4) An order under this section remains in effect until it is withdrawn by the director or by a court.
(5) If an individual named in an order under this section fails to comply with the order, the director may issue an order removing or suspending the individual from the office or position held by the individual. The removal or suspension is in addition to any penalty provided by ORS 725.910 for failure to comply with an order issued under this section. [1987 c.215 §13; 2005 c.338 §25]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.410 - Enforcement actions.

The Director of the Department of Consumer and Business Services may institute any action or other proceeding that the director considers necessary for enforcing any provision of this chapter or any rule, order or action adopted, issued or taken by the director under this chapter. [1987 c.215 §17]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.505 - Rulemaking authority; notice.

(1) In accordance with ORS chapter 183, the Director of the Department of Consumer and Business Services may adopt rules for the purposes of protecting borrowers and consumers, providing clarity to licensees and lenders and otherwise carrying out and enforcing this chapter. The rules may include, but are not limited to, provisions that establish loan forms, terms, charges and fees.
(2) In addition to the notice requirements of ORS chapter 183, before the director adopts a rule, the director shall submit a copy of the rule to each licensee. [1985 c.762 §110; 1987 c.650 §19; 2007 c.603 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.510 - Person not liable for good faith acts or omissions.

A person may not be held personally liable for an act done or omitted by the person in good faith and in compliance with a rule or order of the Director of the Department of Consumer and Business Services under this chapter regardless of whether the rule or order is later amended or rescinded or is later determined by judicial or other authority to be invalid. [1987 c.445 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725 - Consumer Finance › Section 725.910 - Civil penalties.

(1) The Director of the Department of Consumer and Business Services may assess against any person who violates any provision of this chapter, or any rule or final order of the director under this chapter, a civil penalty in an amount determined by the director of not more than $2,500. In addition, if a licensee commits such a violation, the director may revoke the license of the licensee.
(2) Civil penalties under this section shall be imposed as provided in ORS 183.745.
(3) Except as provided in subsection (4) of this section, all moneys collected under this section shall be paid to the State Treasurer and credited as provided in ORS 705.145.
(4) In addition to any other penalty provided by law, the director may assess against any person who lends money without the license required under this chapter a civil penalty in an amount equal to the interest received that exceeds nine percent per annum. The director shall pay all moneys collected under this subsection to the Department of State Lands for the benefit of the Common School Fund. [1975 c.544 §59; 1981 c.412 §17; 1985 c.762 §134; 1987 c.215 §16; 1987 c.373 §70; 1991 c.734 §98; 2001 c.445 §203]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.012 - Application.

(1) ORS 725A.010 to 725A.092 and 725A.990 do not limit a person’s rights, powers or privileges under a law of this state or of the United States that regulates the person’s lending money or extending credit, provided that the person complies with the provisions of the law.
(2) Except as otherwise provided in subsection (3) of this section, ORS 725A.010 to 725A.092 and 725A.990 do not affect a loan made or payable in another jurisdiction and lawful where made or payable.
(3)(a) A person is subject to ORS 725A.010 to 725A.092 and 725A.990 if in the person’s capacity as a lender the person makes a payday loan or title loan to a consumer who resides in or maintains a domicile in this state and the consumer:
(A) Negotiates or agrees to the terms of the payday loan or title loan in person, by mail, by telephone or via the Internet while the consumer is physically present in this state;
(B) Enters into or executes a contract with the person for a payday loan or title loan in person, by mail, by telephone or via the Internet while the consumer is physically present in this state; or
(C) Makes a payment on the payday loan or title loan in this state.
(b) For purposes of this subsection, a consumer makes a payment on a payday loan or title loan in this state if:
(A) A person, for purposes of receiving or processing a payment on the payday loan or title loan, debits an account that the consumer holds in a branch of a financial institution that is located in this state; or
(B) The consumer makes a payment on the payday loan or title loan with a negotiable instrument that is drawn on a financial institution that is, or a branch of which is, located in this state. [2010 c.23 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.020 - Licensing requirement.

(1)(a) Except as provided in ORS 82.010, 82.020 and 82.025 and subject to subsection (2) of this section, a person may not conduct business as a payday loan lender or a title loan lender unless the person obtains a license under ORS 725A.024.
(b) A person may not act as an agent, broker or facilitator for making a payday loan or title loan unless the person obtains a license under ORS 725A.024, regardless of whether the principal that makes the payday loan or title loan must obtain a license under paragraph (a) of this subsection.
(2) If at the time a person made a payday loan or title loan the person did not have a license from the Director of the Department of Consumer and Business Services under ORS 725A.024, the payday loan or title loan is void, and the person, or a successor, assignee or affiliate of the person, may not deposit a borrower’s or consumer’s check, withdraw moneys from a borrower’s or consumer’s account or otherwise collect, receive or retain principal, interest, a fee or a charge related to or in connection with the payday loan or title loan.
(3) Subsection (1) of this section does not apply to a person that does not collect a fee or consideration in connection with a payday loan or title loan or an application for a payday loan or title loan and:
(a) Does not interact directly with a borrower or consumer;
(b) Acts solely as an intermediary between the borrower or consumer and a lender or a person that conducts business as a broker or facilitator for a payday loan or title loan;
(c) Transmits information, electronically or otherwise, concerning the borrower or consumer to a lender or a person that conducts business as a broker or facilitator for a payday loan or title loan; or
(d) Prepares, issues or delivers a negotiable instrument to a lender or a person that conducts business as a broker or facilitator for a payday loan or title loan, for subsequent delivery to a borrower or consumer.
(4) The director by order may determine whether and how a person may collect principal, interest, a fee or a charge related to or in connection with a payday loan or title loan if the director determines that a license the director issued under ORS 725A.024 lapsed inadvertently or by mistake. [2010 c.23 §3; 2015 c.490 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.022 - License application; contents; fee; rules.

(1) An applicant for a license as a payday loan lender or a title loan lender shall apply to the Director of the Department of Consumer and Business Services in writing on a form and in a manner that the director prescribes by rule. An application for a license as a payday loan lender or a title loan lender must:
(a) List the applicant’s name, residence address and business address;
(b) Name and list the residence address and business address for the applicant’s officers and directors, if the applicant is a corporation, or for the applicant’s members, if the applicant is a partnership, limited liability company or other association;
(c) Identify the county and city in which, and the street address, if any, at which the applicant will conduct business; and
(d) Provide other information the director requires.
(2)(a) At the time the applicant submits an application under this section, the applicant shall pay to the director a license fee in an amount the director sets under ORS 725A.028. Except as provided in paragraph (b) of this subsection, the license fee is not refundable.
(b) If the director for cause does not issue a license or if the applicant withdraws the application after the director has investigated the applicant, the director shall refund the license fee, less an amount the director retains to pay the administrative and investigative costs the director incurred in connection with the application. [2010 c.23 §4]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.026 - Grounds for disapproving license application.

(1) The Director of the Department of Consumer and Business Services may disapprove an application submitted under ORS 725A.022 and deny a license to the applicant if a person named in the application:
(a) Cannot meet financial obligations as the obligations mature, has liabilities that exceed assets or is in a financial condition that prevents the person from conducting business with safety to consumers;
(b) Engaged in dishonest, fraudulent or illegal practices or conduct in a business or profession;
(c) Failed to comply with or knowingly or repeatedly violated a provision of or a rule adopted under the Bank Act, ORS chapter 723, 725 or 726 or ORS 725A.010 to 725A.092 and 725A.990;
(d) Was convicted of a crime, an essential element of which is fraud;
(e) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing a practice or conduct in connection with making payday loans, title loans or consumer loans; or
(f) Is subject to an order in which:
(A) The director imposed a fine or other civil penalty on the person under the Bank Act, ORS chapter 723, 725 or 726 or ORS 725A.010 to 725A.092 and 725A.990;
(B) The director removed the person from an office in an entity regulated under the Bank Act, ORS chapter 723 or 725 or ORS 725A.010 to 725A.092 and 725A.990; or
(C) A state or federal agency with authority over banking institutions, savings associations, credit unions or consumer finance companies, within a five-year period before the applicant submitted an application under ORS 725A.022:
(i) Imposed a fine or other civil penalty on the person; or
(ii) Removed the person from an office in a state banking institution, a national bank, a state or federal savings association, a state or federal credit union or a consumer finance company.
(2) If the director denies a license to an applicant under this section, the director shall provide the applicant with a reasonable opportunity for a hearing under ORS chapter 183. [2010 c.23 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.028 - License fee; other fees; rules.

(1) A licensee each year shall pay to the Director of the Department of Consumer and Business Services a license fee in an amount the director specifies by rule. The licensee shall pay the fee not later than the date the director sets in the rule.
(2) The director shall specify the amount of the fee described in subsection (1) of this section after considering:
(a) The amount of other moneys available for the director to use in performing the director’s duties;
(b) The costs the director will incur in performing the director’s duties in the year in which the director will collect the fee; and
(c) The amount the director needs to establish and maintain a reasonable emergency fund.
(3) In addition to any license fee the director collects under subsection (1) of this section, whenever the director devotes extra attention to a licensee’s affairs, either when the licensee requests the attention or the director determines that the extra attention is necessary, the director shall charge as a fee for the extra attention the actual cost the director incurs. [2010 c.23 §7]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.030 - Annual report; contents; penalty; rules.

(1) On or before February 15 of each year, or on a date the Director of the Department of Consumer and Business Services establishes by rule, a licensee shall file a report with the director in a form and with the content the director prescribes by rule. The report must contain information the director requires concerning the licensee’s business and the operations at each place of business in which the licensee conducts business in this state during the preceding calendar year under the terms of a license issued under ORS 725A.024.
(2) The director may assess against a licensee a penalty of $10 for each day after February 15, or after the date the director specifies in subsection (1) of this section, during which the licensee fails to file a report required under this section. [2010 c.23 §8]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.032 - Business name and location.

(1) A licensee may not conduct a business that is subject to ORS 725A.010 to 725A.092 and 725A.990 except under the name and at the place of business named in the license. The licensee at all times shall display the license conspicuously in the licensee’s place of business.
(2) A licensee that changes the location at which the licensee conducts business as a payday loan lender or title loan lender shall notify the Director of the Department of Consumer and Business Services in writing and return the licensee’s license. The director shall amend the license to reflect the new location and return the amended license to the licensee.
(3) The director may allow the licensee to change the location in which the licensee conducts business as a payday loan lender or title loan lender to a location outside the city named in the original license only if the director determines that the new location will serve substantially the same community that the location named in the original license served.
(4) If the director disapproves the proposed new location, the director shall immediately notify the licensee of the disapproval and return the license unchanged to the licensee. [2010 c.23 §9]