reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.034 - License revocation and suspension.

(1) The Director of the Department of Consumer and Business Services may revoke a license issued under ORS 725A.024 if the director:
(a) Gives the licensee 10 days’ written notice in which the director specifies the action the director will take and the general grounds for the action;
(b) Provides the licensee with reasonable opportunity for a hearing under ORS chapter 183 in connection with the action; and
(c) Finds that:
(A) The licensee failed to pay the annual license fee;
(B) The licensee failed to comply with a demand, ruling or requirement the director made under ORS 725A.010 to 725A.092 and 725A.990;
(C) The licensee, if the licensee is a corporation, failed to keep the corporation in good standing under applicable provisions of law;
(D) The licensee violated a provision of ORS 725A.010 to 725A.092 and 725A.990 or a rule the director adopted under ORS 725A.010 to 725A.092 and 725A.990; or
(E) A fact or condition exists that clearly would have warranted the director’s refusing to issue the license had the fact or condition existed at the time the licensee submitted an application under ORS 725A.022.
(2) The director, without notice or hearing, may suspend a license for a period not exceeding 30 days, pending investigation. The director shall provide the licensee with a reasonable opportunity for a hearing under ORS chapter 183 if the director proposes to suspend a license for a period longer than 30 days.
(3) The director may revoke or suspend only the particular license with respect to which grounds for revocation or suspension exist. If the director finds that grounds for revoking or suspending a license exist with respect to more than one of the locations in which a licensee operates, the director may revoke or suspend the license issued to the licensee for each location with respect to which grounds for revocation or suspension exist. [2010 c.23 §10]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.036 - License reinstatement; fee.

The Director of the Department of Consumer and Business Services may reinstate a license the director revoked if the licensee:
(1) Complies with applicable provisions of law;
(2) Complies with a demand, ruling or requirement the director issues or imposes; and
(3) Pays a fee of $25. [2010 c.23 §11]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.038 - License surrender.

(1) A licensee may deliver a written notice to the Director of the Department of Consumer and Business Services to surrender a license the director issued to the licensee under ORS 725A.024.
(2)(a) A licensee shall surrender a license under which no material loan activity has occurred for a period of 12 consecutive months.
(b) For purposes of this subsection, "material loan activity" includes a new loan, a loan that refinances an existing loan or a formal extension of existing loan repayment provisions for more than 30 days.
(3) A licensee’s surrendering a license under subsection (1) or (2) of this section does not affect the licensee’s civil or criminal liability for acts the licensee committed before surrendering the license. [2010 c.23 §12]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.040 - Effect of license revocation, suspension or surrender.

Revocation, suspension or surrender of a license issued under ORS 725A.024 does not impair or affect the rights or obligations specified in a lawful contract between the licensee and a borrower that existed before the revocation, suspension or surrender. [2010 c.23 §13]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.050 - Director’s power to examine or investigate; costs.

(1) The Director of the Department of Consumer and Business Services, to secure information the director requires and to ensure compliance with ORS 725A.010 to 725A.092 and 725A.990 and rules the director adopts under ORS 725A.010 to 725A.092 and 725A.990:
(a) May at any time investigate a licensee or a person required under ORS 725A.020 to obtain a license.
(b) Shall examine a licensee not less than once every two years and may inspect and examine the licensee at other times that the director determines are necessary.
(2) For purposes of subsection (1) of this section:
(a) A licensee or a person required to obtain a license as a payday loan lender or title loan lender is subject to inspection and shall give the director free access to the licensee’s or person’s place of business, books, accounts, records, files, safes and vaults.
(b) The director may:
(A) Conduct an investigation or examination without prior notice to the person the director investigates or examines.
(B) Compel the attendance of a witness or other person from whom the director requires testimony necessary to conduct an investigation or examination and examine the witness or person under oath.
(C) Require a licensee or a person required to obtain a license as a payday loan lender or title loan lender to produce books, accounts, records, files or other documents.
(c) A person may not knowingly give or cause to be given to the director a document or an oral or written statement or report that is false in any material respect.
(3) If the director investigates or examines under this section a licensee or a person required to obtain a license as a payday loan lender or title loan lender, the licensee or person shall pay the director for the actual cost of the investigation or examination. The director may maintain an action to recover the cost in a court of competent jurisdiction. [2010 c.23 §14]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.052 - Record keeping requirements.

The Director of the Department of Consumer and Business Services may specify the form and content of the books and records the licensee must keep in accordance with the provisions of ORS 725A.010 to 725A.092 and 725A.990. The licensee shall preserve and make available the books and records for a period of at least two years after the licensee makes the final entry in connection with a loan or account recorded in the book or record. [2010 c.23 §15]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.054 - Duty to report defalcation; audit.

(1) A director or officer of a licensee who has reason to believe that a defalcation has occurred at an office of the licensee shall report the defalcation to the local, state or federal law enforcement officer with jurisdiction.
(2) A licensee, within five days after the discovery of a defalcation that occurs at an office of the licensee, shall notify the Director of the Department of Consumer and Business Services. If the director instructs the licensee 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.
(3) The Director of the Department of Consumer and Business Services may report a defalcation to a federal, state or local law enforcement agency with jurisdiction if the licensee has not reported the defalcation in accordance with subsection (1) of this section. [2010 c.23 §16]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.056 - Loan disclosure requirements; receipt; procedure after full loan repayment.

A licensee shall:
(1) Deliver to the borrower at the time the licensee makes a loan a statement in the English language that shows in clear and distinct terms:
(a) The borrower’s and the licensee’s names and addresses.
(b) The amount of the loan, the date on which the licensee made the loan and the maturity of or payment terms for the loan.
(c) The interest rate to which the licensee and borrower agreed and the consideration the licensee will charge for the loan.
(d) The nature of the security for the loan, if the licensee has taken a lien on personal property 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 the borrower made on a loan at the time the licensee receives the payments. The receipt must:
(a) Specify the amount, if any, that the licensee applied toward interest;
(b) Identify the date to which the interest is paid;
(c) Specify the amount, if any, the licensee applied toward principal; and
(d) State the unpaid principal balance for the loan, if a principal balance remains.
(3) Permit a borrower at any time to pay any amount in advance on any loan.
(4) Mark the word "Paid" or "Renewed" indelibly on the note, or on other evidence of the debt or obligation that bears the borrower’s signature, whenever the borrower pays the loan in full or renews the loan. If the borrower repays the loan in full, the licensee shall also:
(a) Release a mortgage or security agreement that no longer secures the loan and restore any security or collateral, to the extent and in the manner required by law.
(b) Release a Uniform Commercial Code filing that no longer secures the loan, to the extent and in the manner required under ORS 79.0513.
(c) Return any assignment the borrower gave.
(d) Return to the borrower the canceled note or other evidence of the loan or, alternatively, acknowledge to the borrower in writing that the borrower has repaid the loan. [2010 c.23 §17]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.058 - Dissemination of false, misleading or deceptive statement.

A licensee or other person may not advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, distributed or broadcast in any manner whatsoever a statement or representation that is false, misleading or deceptive with respect to a rate, term or condition for a payday loan or title loan. [2010 c.23 §18]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.060 - Prohibited conduct generally.

(1) A licensee or a person required under ORS 725A.020 to obtain a license may not:
(a) Take from a consumer:
(A) A power of attorney, except a power of attorney to transfer ownership of a motor vehicle at the time the licensee or the person makes a loan secured by a motor vehicle.
(B) A note or promise to pay that does not accurately disclose the actual amount or the term of the loan, the rate of interest charged and the schedule of payments for the loan.
(C) An instrument in which blank spaces remain to be filled in after execution.
(D) An assignment of earnings as payment or as security for a loan. An assignment that violates this subparagraph is unenforceable by the assignee and revocable by the assignor. For purposes of this subparagraph, if the licensee or the person pays money to or on behalf of a consumer in return for a right or claim to all or a portion of the consumer’s unpaid earnings, the licensee or the person has made a loan to the consumer that is secured by an assignment of earnings. This subparagraph does not preclude an employee from authorizing deductions from the employee’s earnings if the authorization is revocable.
(b) Conduct business where liquor or lottery tickets are sold or where gambling devices are located.
(c) Charge a consumer:
(A) More than the actual amount that the vendor or service provider charges the licensee or the person for access to or use of the system described in ORS 725A.090; or
(B) More than one fee per loan transaction for dishonored checks or insufficient funds, regardless of how many checks or debit agreements the licensee or the person obtains from the consumer for the transaction. The fee may not exceed $20.
(d) Collect a fee for a dishonored check under ORS 30.701 or seek or recover statutory damages or attorney fees from a consumer for a dishonored check under ORS 30.701. The licensee or the person may recover from the consumer a fee that an unaffiliated financial institution charges to the licensee or the person for each dishonored check. For a dishonored check or insufficient funds, the fees described in this subsection are the only remedy the licensee or the person may pursue and the only fees the licensee or the person may charge.
(e) Make a loan to a consumer who has not fully repaid an outstanding payday loan or title loan. This paragraph does not prohibit a licensee or person from renewing an existing payday loan or title loan as provided in ORS 725A.010 to 725A.092 and 725A.990.
(2) The provisions of ORS 725A.010 to 725A.092 and 725A.990 do not prevent a licensee or a person required under ORS 725A.020 to obtain a license from recovering amounts associated with collecting a defaulted loan that are authorized by statute or awarded by a court of law. [2010 c.23 §19; 2019 c.188 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.062 - Prohibited conduct for title loan lender.

A title loan lender may not:
(1) Make or renew a title loan at a rate of interest that exceeds 36 percent per annum, excluding a one-time origination fee that the title loan lender may charge for the loan.
(2) Charge during the term of a title loan, including all renewals of the loan, more than one origination fee of $10 per $100 of the loan amount or $30, whichever is less.
(3) Make or renew a title loan for a term of less than 31 days.
(4) Make or renew a title loan to a consumer without forming a good faith belief that the consumer has the ability to repay the title loan. In forming a good faith belief, the title loan lender shall consider factors that the Director of the Department of Consumer and Business Services specifies by rule. A title loan lender complies with this subsection if the title loan lender meets the conditions the director specifies.
(5) Charge a consumer a fee or interest other than a fee or interest described in subsection (1) or (2) of this section or in ORS 725A.060 (1)(c) or (d).
(6) Include in a title loan contract:
(a) A hold-harmless clause;
(b) A confession of judgment or other waiver of the right to notice and the opportunity to be heard in an action;
(c) A provision in which the consumer agrees not to assert against the lender or a holder in due course a claim or defense arising out of the contract;
(d) An executory waiver or a limitation of exemption from attachment, execution or other process on real or personal property the consumer holds, owns or is due, unless the waiver or limitation applies only to property that is subject to a security interest executed in connection with the loan; or
(e) A clause that permits interest to continue after the consumer’s motor vehicle, recreational vehicle, boat or mobile home has been repossessed.
(7) Require or accept from a consumer a set of keys to the motor vehicle, recreational vehicle, boat or mobile home the title to which secures the title loan.
(8) Make more than one outstanding title loan that is secured by one title.
(9) Renew an existing title loan that is secured by one title more than two times after the loan is first made.
(10) Make a new title loan to a consumer within seven days after the date on which the consumer fully repays a previous title loan. [2010 c.23 §20; 2019 c.188 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.064 - Prohibited conduct for payday loan lender.

A payday loan lender may not:
(1) Make or renew a payday loan at a rate of interest that exceeds 36 percent per annum, excluding a one-time origination fee that the payday loan lender may charge for the loan.
(2) Charge during the term of a payday loan, including all renewals of the loan, more than one origination fee of $10 per $100 of the loan amount or $30, whichever is less.
(3) Make or renew a payday loan for a term of less than 31 days.
(4) Charge a consumer a fee or interest other than a fee or interest described in subsection (1) or (2) of this section or in ORS 725A.060 (1)(c) or (d).
(5) Include in a payday loan contract:
(a) A hold-harmless clause;
(b) A confession of judgment or other waiver of the right to notice and the opportunity to be heard in an action;
(c) A provision in which the consumer agrees not to assert against the lender or a holder in due course a claim or defense arising out of the contract; or
(d) An executory waiver or a limitation of exemption from attachment, execution or other process on real or personal property the consumer holds, owns or is due, unless the waiver or limitation applies only to property that is subject to a security interest executed in connection with the loan.
(6) Renew an existing payday loan more than two times.
(7) Make a new payday loan to a consumer within seven days after the date on which the consumer fully repays a previous payday loan. [2010 c.23 §21; 2019 c.188 §3]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.080 - Complaint and administrative remedy.

(1) A person who claims to be aggrieved by a practice that violates a provision of ORS 725A.020, 725A.060, 725A.062 or 725A.064 or a rule adopted under ORS 725A.092 that regulates a licensee or a person required under ORS 725A.020 to obtain a license may, not later than one year after the date of the alleged violation, file with the Director of the Department of Consumer and Business Services a verified written complaint. The complaint must state the name and address of the licensee or the person alleged to have committed the unlawful practice and the particulars of the alleged unlawful practice. The director may require the complaint to set forth other information that the director considers pertinent.
(2) A title loan lender shall state in every contract for a title loan, in a type size equal to at least 12-point type, that the consumer or the consumer’s attorney may file a complaint with the director as provided in this section.
(3) After receiving a complaint under this section, the director may, under ORS 725A.050, investigate the unlawful practice and the licensee or the person alleged in the complaint to have committed the unlawful practice. [2010 c.23 §22]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.082 - Cease and desist order.

(1) If the Director of the Department of Consumer and Business Services has reasonable cause to believe that a person violated, is violating or is about to violate a provision of ORS 725A.010 to 725A.092 and 725A.990 or a rule the director adopted or an order the director issued under ORS 725A.010 to 725A.092 and 725A.990, the director may order the person to cease and desist from the violation.
(2) The director, in an order the director issues under subsection (1) of this section, shall:
(a) State the facts constituting the violation;
(b) Require the person named in the order to cease and desist from the violation or to meet specific conditions;
(c) State the effective date of the order; and
(d) Advise the person named in the order that the person has a 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, and remains in effect until the director or a court withdraws the order.
(4) If an individual named in an order under this section fails to comply with the order, in addition to imposing a penalty under ORS 725A.990, the director may issue an order to remove or suspend the individual from the individual’s office or position. [2010 c.23 §23]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.084 - Suspension or removal of officer or director of licensee.

(1) If the Director of the Department of Consumer and Business Services finds that an officer or director of a licensee is dishonest, reckless or incompetent or refuses to comply with the law, with a rule the Department of Consumer and Business Services adopted or with a written requirement or instruction the department imposed or issued, the Director of the Department of Consumer and Business Services may order the licensee to suspend the licensee’s officer or director from the officer or director’s office or position.
(2) The Director of the Department of Consumer and Business Services, for any of the reasons set forth in ORS 725A.026, may order a licensee to remove an officer or director of the licensee from office. [2010 c.23 §24]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.086 - Limitation of personal liability.

A person is not personally liable for an act the person does or fails to do in good faith and in compliance with a rule or order the Director of the Department of Consumer and Business Services adopted or issued under ORS 725A.010 to 725A.092 and 725A.990, even if the director amends or rescinds the rule or order or a judicial or other authority determines that the rule or order is invalid. [2010 c.23 §25]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.090 - Loan tracking and counseling system; rules; fees.

(1)(a) The Director of the Department of Consumer and Business Services, by contract with a vendor or service provider or otherwise, may develop and implement a system by means of which a licensee may:
(A) Determine whether a consumer has an outstanding loan;
(B) Determine the number of loans the consumer has outstanding;
(C) Determine the dates on which the consumer entered into or renewed a loan contract subject to ORS 725A.010 to 725A.092 and 725A.990;
(D) Provide loan counseling to consumers in accordance with standards the director specifies; and
(E) Obtain other information necessary to comply with the provisions of ORS 725A.010 to 725A.092 and 725A.990.
(b) The director by rule may specify the form and content of the system, but shall ensure at a minimum that the information entered into or stored by the system is:
(A) Accessible to and usable by licensees and the director from any location in this state; and
(B) Secured against public disclosure, tampering, theft or unauthorized acquisition or use.
(2) The information in the system described in subsection (1) of this section is not subject to public inspection or disclosure and is not subject to discovery, subpoena or other compulsory process except in an action brought under ORS 725A.010 to 725A.092 and 725A.990.
(3) A vendor or service provider that operates or administers the system described in subsection (1) of this section may charge a licensee a fee or fees for access to or use of the system in amounts that the director approves by rule. The licensee may not charge a consumer, directly or indirectly, any amount to recover or otherwise compensate for the cost of a fee the licensee pays under this subsection.
(4)(a) If the system described in subsection (1) of this section is developed and implemented, licensees subject to ORS 725A.010 to 725A.092 and 725A.990, within one business day after conducting a loan transaction that generates information that the system described in subsection (1) of this section requires, shall enter or update the information.
(b) A licensee, after the date on which the licensee ceases to make loans subject to ORS 725A.010 to 725A.092 and 725A.990, shall continue to enter and update information for loans that are outstanding or that have not yet expired.
(c) Within 10 business days after ceasing to make loans subject to ORS 725A.010 to 725A.092 and 725A.990, a licensee shall submit to the director for approval a plan for continuing compliance with this subsection. The director shall promptly approve or disapprove the plan and may require the licensee to submit a new or modified plan that ensures compliance with this subsection.
(5) The director by rule shall establish requirements for retaining, archiving and deleting information entered into or stored by the system described in subsection (1) of this section. [2010 c.23 §26; 2017 c.215 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.092 - Rules.

(1) The Director of the Department of Consumer and Business Services, in accordance with ORS chapter 183, may adopt rules for the purposes of protecting borrowers and consumers, providing clarity to licensees and otherwise carrying out and enforcing the provisions of ORS 725A.010 to 725A.092 and 725A.990. The rules may include, but are not limited to, provisions that establish loan forms, terms, charges and fees.
(2) Before the director adopts a rule under subsection (1) of this section, the director shall submit a copy of the rule to each licensee.
(3) The director may institute an action or proceeding and make a specific ruling, demand or finding that the director considers necessary to carry out or enforce a provision of ORS 725A.010 to 725A.092 and 725A.990 or a rule the director adopted, an order the director issued or an action the director took to carry out or enforce the provisions of ORS 725A.010 to 725A.092 and 725A.990. [2010 c.23 §27]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.509 - Duties of licensee; assumed business name.

(1) A licensee shall designate and maintain a principal place of business at or from which the licensee services student loans in this state and shall designate a registered agent in this state.
(2)(a) If a licensee does not maintain a principal place of business in this state, the licensee shall nevertheless designate a registered agent in this state. The registered agent must be available to receive on the licensee’s behalf any notice, demand or service of process permitted by law to be given, made or delivered to, or served upon, the licensee.
(b) If the licensee does not designate a registered agent in this state, or if the licensee’s registered agent cannot with reasonable diligence be located, the Director of the Department of Consumer and Business Services is the licensee’s registered agent.
(3) A licensee may not use or operate under an assumed business name unless the licensee first registers the assumed business name under ORS chapter 648 and lists the name on an application under ORS 725A.506 or in a notice to the director under ORS 725A.515. [2021 c.651 §4]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.512 - Requirement to maintain liquidity, operating reserves and tangible net worth; taking possession of licensee’s property for failure to meet requirement; appointment of receiver.

(1) A licensee shall maintain in accordance with generally accepted accounting principles sufficient liquidity, operating reserves and tangible net worth to permit the licensee to adequately meet all costs, expenses and other financial requirements related to servicing student loans in this state. The Director of the Department of Consumer and Business Services may specify by rule the standards a licensee must meet to comply with the requirements set forth in this subsection.
(2)(a) If a licensee fails to meet the applicable standards for liquidity, operating reserves and tangible net worth set forth in subsection (1) of this section, the director may take and retain possession of the licensee’s property, business and assets located in this state until the licensee returns, under the director’s supervision or oversight, to compliance with the applicable standards.
(b) In taking and retaining possession of the licensee’s property, business and assets under paragraph (a) of this subsection, the director shall conduct an inventory appropriate for establishing a receivership for the licensee and file a copy of the inventory with:
(A) The Department of Consumer and Business Services; and
(B) Each of the licensee’s controllers, at the last address for each controller that the director has in the director’s records.
(3) If a licensee refuses to permit the director to take and retain possession of the licensee’s property, business and assets under subsection (2) of this section or if the director can show that the interests of the licensee’s borrowers or creditors require the appointment of a receiver, the director may apply to the circuit court in the county in which the licensee’s principal place of business in this state is located for an order to appoint a receiver to take and retain possession of, operate or liquidate the licensee’s property, business and assets. The court may appoint the director as the receiver.
(4) If, 60 days after the date on which the director took possession of a licensee’s property, business and assets under subsection (2) of this section, the licensee has not returned to compliance with the applicable standards described in subsection (1) of this section, the director shall liquidate the licensee’s property, business and assets and revoke the licensee’s license to service student loans in this state. If the director is not the receiver for the licensee’s property, business and assets, the director shall apply to the circuit court in the county in which the licensee’s principal place of business in this state is located for an order to appoint the director or another person as receiver. [2021 c.651 §5]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.515 - Required notifications from licensee to director.

(1)(a) A licensee shall notify the Director of the Department of Consumer and Business Services in writing at least 30 days before the licensee:
(A) Relocates or closes the licensee’s principal place of business or a branch office in this state; or
(B) Opens a branch office that the licensee did not list in an application under ORS 725A.506.
(b) In a notice under paragraph (a) of this subsection, the licensee shall list, as applicable:
(A) The new address to which the licensee relocates the licensee’s principal place of business or any branch office; and
(B) The address for any new branch office the licensee opens.
(2)(a) A licensee shall notify the director in writing not later than 30 days after:
(A) Any appointment, resignation or other change occurs in the licensee’s controllers, registered agents or managers; or
(B) Any material change occurs in the information that the licensee submitted in an application under ORS 725A.506.
(b) The licensee shall provide in a notice under paragraph (a)(A) of this subsection the name, address and title of any new controller, registered agent or manager the licensee appoints.
(3)(a) A licensee shall notify the director in writing not later than 10 days after:
(A) Filing for bankruptcy or reorganization;
(B) A controller, registered agent or manager of the licensee becomes subject to an indictment that is related in any manner to the licensee’s activities;
(C) The licensee receives notice of a final order issued in this or another state that:
(i) Demands that the licensee cease and desist from any act;
(ii) Suspends or revokes a license or registration; or
(iii) Constitutes any other formal or informal regulatory action against the licensee;
(D) The licensee registers or changes and uses or operates under an assumed business name;
(E) The licensee ceases doing business or ceases servicing student loans; or
(F) Any other change in the licensee’s operations or governance occurs in a manner or with an effect that the director determines by rule is significant enough to warrant the licensee notifying the director.
(b) A licensee shall specify in a notice under paragraph (a)(C) of this subsection the reasons any final order sets forth for taking a regulatory action against the licensee.
(c) A licensee shall identify in a notice under paragraph (a)(E) of this subsection the location in which the licensee stores records related to student loan servicing in this state and shall provide the name and contact information for an individual with authority to provide access to the records.
(4) A licensee shall notify the director immediately if the licensee changes registered agents or if the name or address of the licensee’s registered agent in this state changes. In the notice, the licensee shall update the name and address of the registered agent. [2021 c.651 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.518 - Supervisory powers of director; examination of licensee; charge for costs of examination; multistate cooperation; rules.

(1) The Director of the Department of Consumer and Business Services has general supervisory authority over:
(a) Each licensee in this state;
(b) Any person that services a student loan in this state, if the person is subject to ORS 725A.500 to 725A.530 or if the director required the person to obtain a license under ORS 725A.503 (3); and
(c) Any person that had a license that the director withdrew, canceled, suspended, conditioned or revoked, if the person continues to service a student loan.
(2)(a) The authority described in subsection (1) of this section includes the authority to examine a licensee or a person described in subsection (1) of this section at any time.
(b) The director may charge and collect from a licensee or a person the director examines under this section the costs the director incurs in conducting the examination.
(3) In order to conduct an examination under this section, the director may:
(a) Retain attorneys, accountants or other professionals and specialists as examiners, auditors or investigators.
(b) Enter into agreements or relationships with other government officials or regulatory associations to share resources, to use and create standardized methods, procedures, documents, databases, records, information or evidence, to reduce the director’s regulatory burden or to improve efficiency.
(c) Participate in multistate examinations that the Conference of State Bank Supervisors or the federal Consumer Financial Protection Bureau schedules and conducts. In conducting an examination under this paragraph, the director shall follow the protocol that the conference or bureau establishes for the examination.
(d) Accept and rely on examination or investigation reports from other government officials in this or another state.
(4) Books, accounts, papers, records, files, correspondence, contracts and agreements, disclosures, documentation and other information, material or evidence the director obtains in an examination under this section is confidential and subject to the provisions of ORS 705.137, except that a borrower may request to inspect material related to the borrower’s student loan that the director by rule specifies is available for inspection. The director shall authenticate the borrower’s identity before disclosing any material to the borrower.
(5) The director may adopt rules for the purpose of implementing ORS 725A.500 to 725A.530. [2021 c.651 §7]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.524 - Investigation of complaints; confidentiality of materials obtained in investigation; exceptions; charge for costs of investigation.

(1) If the Director of the Department of Consumer and Business Services receives a complaint concerning a person that services a student loan, the director:
(a) Shall notify the person of the complaint, provide a copy of the complaint in the notice and require the person to respond to the complaint and to the director within 30 days after the date of the notice;
(b) May investigate the complaint and require the person to provide books, accounts, papers, records, files, correspondence, contracts and agreements, disclosures, documentation and other information, material or evidence necessary for the director’s investigation; and
(c) May investigate the person and the person’s policies and practices with respect to servicing a student loan and require the person to provide books, accounts, papers, records, files, documentation and other information, material or evidence necessary for the director’s investigation.
(2)(a) Except as provided in paragraph (b) of this subsection, books, accounts, papers, records, files, correspondence, contracts and agreements, disclosures, documentation and other information, material or evidence the director receives or possesses as a consequence of an investigation under subsection (1) of this section are confidential unless state or federal law or a court order permits or requires disclosure.
(b) The director may share any item listed in paragraph (a) of this subsection with any state or federal agency.
(3) The director may charge and collect from a person the director investigates under this section the costs the director incurs in conducting the investigation.
(4) This section does not apply to:
(a) A financial institution, as defined in ORS 706.008.
(b) A financial holding company or bank holding company, both as defined in ORS 706.008, if the financial holding company or bank holding company does no more than control an affiliate or subsidiary, as defined in 12 U.S.C. 1841(d), and does not engage in business as a student loan servicer. [2021 c.651 §9]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.527 - Violations; orders of director; remedies; civil penalties; charge for costs of proceeding.

(1) If, after conducting an investigation, the Director of the Department of Consumer and Business Services determines that a person that services a student loan has violated ORS 725A.500 to 725A.530, violated a rule the director adopted or an order the director issued under ORS 725A.500 to 725A.530 or violated another applicable law, the director may order the person to:
(a) Cease and desist from any act that constitutes a violation of ORS 725A.500 to 725A.530.
(b) Resolve any complaint the director received under ORS 725A.524 and pay the borrower that submitted the complaint any damages to which the borrower would be entitled under law.
(c) Pay a borrower any amount the person received from the borrower as compensation while engaging in any action that constituted a violation of ORS 725A.500 to 725A.530.
(2)(a) In addition to and not in lieu of any other penalty provided by law, the director may impose a civil penalty under ORS 183.745 in an amount of not more than $5,000 for each instance in which a person violates, aids or abets another person in violating, or procures a violation of ORS 725A.500 to 725A.530 or an order the director issues under ORS 725A.500 to 725A.530.
(b) Each instance described in paragraph (a) of this subsection is a separate violation and each day in which a person engages in a continuous violation is a separate violation. The director may not impose a penalty that exceeds $20,000 for a continuous violation.
(3) The director may assess the costs of conducting an administrative proceeding under this section against the person that is the subject of the administrative proceeding or may include the costs of the administrative proceeding in any civil penalty the director imposes under this section.
(4) A person that is subject to a civil penalty under this section may appeal the penalty as provided in ORS chapter 183.
(5) The director shall deposit any amount the director receives under this section to the General Fund of the State Treasury. [2021 c.651 §10]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 725A - Short-Term Loans and Student Loan Servicing › Section 725A.990 - Penalties.

(1) The Director of the Department of Consumer and Business Services may assess a civil penalty of not more than $2,500 against a person who violates a provision of ORS 725A.010 to 725A.092 and 725A.990 or a rule the director adopted or final order the director issued under ORS 725A.010 to 725A.092 and 725A.990. The director, in addition to imposing a penalty under this subsection for the violation, may revoke the licensee’s license.
(2) A civil penalty under this section must be imposed as provided in ORS 183.745.
(3) Except as provided in subsection (4) of this section, moneys collected under this section must 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 a person who makes a payday loan or title loan in violation of ORS 725A.020 a civil penalty in an amount equal to the interest the person receives 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. [2010 c.23 §28]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 726 - Pawnbrokers › Section 726.010 - Definitions.

As used in this chapter:
(1) "Pawnbroker" means a person, copartnership, association or corporation that:
(a) Lends money at a rate of interest greater than 10 percent per annum on the deposit or pledge of personal property;
(b) Purchases personal property on the direct or implied condition of selling the personal property back at a stipulated price that would amount to paying interest or consideration in excess of 10 percent per annum; or
(c) Does business as a storage warehouse operator and lends money at a rate of interest greater than 10 percent per annum upon goods, wares, merchandise or personal property pledged or deposited as collateral security.
(2)(a) "Personal property" means tangible property a person owns, including:
(A) Chattels and movables, such as merchandise, furniture, goods, machinery, tools and equipment, supplies and media;
(B) Pledges that are not required to be registered with the Department of Transportation;
(C) Snowmobiles, as defined in ORS 801.490;
(D) Trailers that have a loaded weight of not more than 8,000 pounds and that are designed or manufactured, or are otherwise suitable, for carrying a boat, snowmobile or all-terrain vehicle; and
(E) Equipment used for farming.
(b) "Personal property" does not include:
(A) Pledges that are required to be registered with the Department of Transportation, unless the pledge is a snowmobile or a trailer described in paragraph (a) of this subsection;
(B) Choses in action;
(C) Securities or printed evidence of indebtedness; or
(D) Intangible property.
(3) "Pledge" means personal property deposited with a pawnbroker in the course of the business of the pawnbroker.
(4) "Pledgor" means a person who delivers a pledge into the possession of a pawnbroker, unless the person discloses that the person is or was acting for another, in which event "pledgor" means the disclosed principal.
(5) "Pledge loan" means a loan that a pawnbroker makes to a pledgor and that is secured by a pledge. [Amended by 1971 c.168 §1; 1985 c.762 §135; 1987 c.373 §71; 1993 c.744 §27; 2013 c.261 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 726 - Pawnbrokers › Section 726.020 - Short title; application of chapter.

This chapter shall be known as the Pawnbrokers Act. It is applicable to any person who qualifies under its provisions, and to such other person as shall by violating any of its provisions be subject to the penalties provided in ORS 726.990.
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 726 - Pawnbrokers › Section 726.030 - 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.
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 726 - Pawnbrokers › Section 726.040 - Pawnbroker license required.

No person shall engage or continue in the business of a pawnbroker, or use any assumed business name or advertising that in any way would lead the public to believe the person is a licensed pawnbroker, except as authorized by this chapter and without first procuring a license from the Director of the Department of Consumer and Business Services as provided in this chapter. [Amended by 1979 c.202 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 726 - Pawnbrokers › Section 726.050 - Requirements for issuance of license.

The Director of the Department of Consumer and Business Services may not issue a license to a corporation, limited liability company or limited liability partnership or to a person using an assumed business name unless:
(1) The limited liability company or limited liability partnership has filed the required documents under ORS chapter 63 or 67;
(2) The person using the assumed business name has registered the name under ORS chapter 648; or
(3) The corporation is an Oregon corporation in good standing or a foreign corporation legally qualified to do business in this state. [Amended by 2007 c.360 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 726 - Pawnbrokers › Section 726.060 - Application for license; contents; fee.

(1) An application for the license shall be in writing in a form prescribed by the Director of the Department of Consumer and Business Services.
(2) The application shall contain:
(a) If the applicant is an individual, the name and both the residence and business addresses of the applicant;
(b) If the applicant is a partnership or association, the name and both the residence and business addresses of every member of the partnership or association;
(c) If the applicant is a corporation, the name and both the residence and business addresses of each officer and director of the corporation;
(d) The county and city with street and number, if any, where the business is to be conducted; and
(e) Any other information that the director may require.
(3) The applicant at the time of making application for the applicant’s first licensed location in this state shall pay to the director a nonrefundable application fee of $500. [Amended by 1971 c.218 §1; 1985 c.762 §136; 1997 c.842 §1; 2007 c.360 §2]