reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.395 - Power of commissioner.

The Real Estate Commissioner shall have the power to:
(1) For the purpose of administration, organize and reorganize, as necessary, the Real Estate Agency in the manner that the commissioner deems necessary to properly conduct the work of the agency.
(2) Appoint all subordinate officers and employees of the agency, or such other agents or representatives, and prescribe their duties and fix their compensation, subject to the applicable provisions of the State Personnel Relations Law. Subject to any other applicable law regulating travel expenses, the officers, employees, agents or representatives of the agency shall be allowed such reasonable and necessary travel and other expenses as may be incurred in the performance of their duties.
(3) Require a fidelity bond or an irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 of any officer or employee of the agency who has charge of, handles or has access to any state money or property, and who is not otherwise required by law to give a bond or letter of credit. The amounts of the bonds or letters of credit shall be fixed by the commissioner, except as otherwise provided by law, and the sureties or letter of credit issuers shall be approved by the commissioner. The agency shall pay the premium on the bonds and the fees for the letters of credit. [1963 c.580 §42; 1977 c.649 §45; 1987 c.414 §38a; 1991 c.331 §105; 1997 c.631 §524]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.396 - Investigation of complaints and progressive discipline; rules.

(1) The Real Estate Commissioner shall provide by rule for the progressive discipline of real estate licensees and an objective method for investigation of complaints alleging grounds for discipline under ORS 696.301.
(2) The rules adopted by the commissioner under this section:
(a) Must establish procedures for the discovery of material facts relevant to an investigation and for the reporting of those facts without conclusions of violation or grounds for discipline to the commissioner or the commissioner’s designee by the individual assigned to investigate the complaint.
(b) Must provide for progressive discipline designed and implemented to correct inappropriate behavior.
(c) May not authorize imposition of a suspension or a revocation of a real estate license unless the material facts establish a violation of a ground for discipline under ORS 696.301 that:
(A) Results in significant damage or injury;
(B) Exhibits incompetence in the performance of professional real estate activity;
(C) Exhibits dishonesty or fraudulent conduct; or
(D) Repeats conduct or an act that is substantially similar to conduct or an act for which the real estate licensee was disciplined previously. [2005 c.393 §5]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.397 - Cease and desist order.

(1) If the Real Estate Agency has reason to believe that a person has engaged, is engaging or is about to engage in a violation of ORS 696.020 (2) or 696.603 (1), the agency may, subject to ORS chapter 183, issue an order directing the person to cease and desist from the violation or threatened violation.
(2) A cease and desist order issued under subsection (1) of this section must include:
(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.
(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) A cease and desist order issued under subsection (1) of this section becomes effective 30 days after the date of the order unless the person named in the order requests a hearing on the order.
(4) A final cease and desist order issued under subsection (1) of this section may be recorded in the County Clerk Lien Record in the manner provided by ORS 205.125 and enforced in the manner provided by ORS 205.126. After the order is recorded, and subject to any other requirements that may apply to the enforcement remedy sought by the agency, the agency may commence proceedings for the enforcement of the order in the same manner as provided for the enforcement of judgments issued by a court, including contempt proceedings.
(5) The Attorney General, the prosecuting attorney of any county or the agency, in its own name, may maintain an action for an injunction in a court of competent jurisdiction against a person violating ORS 696.020 (2), 696.511 (1) or 696.603 (1). An injunction may be issued without proof of actual damage sustained by any person. An injunction does not relieve a person from criminal prosecution for violation of this section or from any other civil, criminal or disciplinary remedy. [2011 c.557 §1]
Note:
696.397 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 696 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.398 - Delegation by commissioner to employees; requirements.

(1) The Real Estate Commissioner may delegate to any of the officers and employees of the Real Estate Agency to exercise or discharge in the commissioner’s name any power, duty or function vested in or imposed upon the commissioner under this chapter. The power to administer oaths and affirmations, subpoena witnesses, take evidence and require the production of books, papers, correspondence, memoranda, agreements or other documents or records, and to sign notices and orders may be exercised by an officer or employee of the agency only when specified in writing by the commissioner and filed in the records of the Real Estate Agency.
(2) An official act of an individual acting in the commissioner’s name and by authority of the commissioner shall be deemed to be an official act of the commissioner. [1975 c.746 §26; 2007 c.319 §14]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.405 - Real Estate Board; appointment; term; qualifications; compensation; expenses.

(1) The Real Estate Board is established within the Real Estate Agency. The board shall consist of nine members appointed by the Governor to hold office for a period of four years, but to serve at the pleasure of the Governor. Seven members of the board appointed by the Governor must have been, before the date of their appointment, real estate licensees actively engaged for five years in professional real estate activity in this state. Two members to be appointed by the Governor shall not be real estate licensees or have been connected with, or employed by, the Real Estate Agency or a predecessor thereof. In case of a vacancy for any cause, the Governor shall make an appointment to become immediately effective for the unexpired term.
(2) A member of the board is entitled to compensation or expenses as provided in ORS 292.495. [1963 c.580 §43; 1969 c.314 §97; 1975 c.746 §27; 1977 c.649 §46; 1981 c.617 §17; 1987 c.414 §39; 1993 c.744 §250]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.415 - Officers; meetings; quorum.

(1) The Real Estate Board shall annually select one of its members as chairperson, who shall preside at the meetings of the board. In the absence of the chairperson some other member of the board may serve as chairperson. The board shall meet at such times and places as determined by the board and may also meet upon call of the chairperson.
(2) A majority of the board shall constitute a quorum for the transaction of business. A vacancy on the board shall not impair the right of the remaining members to perform all the duties and exercise all the functions and authority of the board. [1963 c.580 §45]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.425 - Powers and duties of board; expenses.

(1) The Real Estate Board is authorized to inquire into the needs of the real estate licensees of Oregon, the functions of the Real Estate Agency and the matter of the business policy thereof, to confer with and advise the Governor as to how the agency may best serve the state and the licensees, and to make recommendations and suggestions of policy to the agency as the board may deem beneficial and proper for the welfare and progress of the licensees and of the public and of the real estate business in Oregon.
(2) The board shall make recommendations to the agency about the manner and methods for conducting examinations.
(3) The board shall create or approve a real estate continuing education course for real estate licensees based on recent changes in real estate rule and law.
(4) The expenses of the board shall be paid from moneys available to the agency for payment of administrative expenses relating to the real estate activities of the agency. [1963 c.580 §46; 1969 c.674 §19; 1977 c.649 §47; 1981 c.617 §18; 1987 c.414 §39a; 1993 c.744 §179; 2009 c.502 §8; 2013 c.145 §15]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.430 - Records of commissioner as evidence; records open to inspection; rules.

Copies of all records and papers in the office of the Real Estate Commissioner duly certified and authenticated by the seal of the commissioner shall be received in evidence in all courts equally and with like effect as the original. Except for records of open investigations, all records kept in the office of the commissioner under authority of ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870 and 696.995 shall be open to public inspection under such reasonable rules and regulations as shall be prescribed by the commissioner. [Amended by 2001 c.300 §35]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.445 - Advancement of education and research; Oregon Real Estate News Journal; content as to disciplinary actions.

(1) Pursuant to ORS 696.385 (2), the Real Estate Agency shall provide for the advancement of education and research in connection with the educational requirements for the securing of licenses for real estate licensees under ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870 and 696.995.
(2) The Real Estate Commissioner may assign and reassign staff in the agency to perform such duties as the commissioner considers necessary to carry out subsection (1) of this section, including but not limited to the preparation and distribution of a periodic publication to be known as the Oregon Real Estate News Journal and the preparation and publication of other printed or electronic information of an educational nature for the benefit of real estate licensees.
(3) The commissioner shall publish in the Oregon Real Estate News Journal the names and the city and state of:
(a) Real estate and escrow agent licensees who have been reprimanded;
(b) Real estate and escrow agent licensees whose licenses have been suspended or revoked; and
(c) Real estate and escrow agent licensees against whom the agency has assessed civil penalties.
(4) Each publication under subsection (3) of this section must include:
(a) A brief description of the situation involved and the grounds for the commissioner’s action; or
(b) The complete final order issued by the agency. [1974 c.26 §5; 1975 c.746 §28; 1977 c.649 §48; 1981 c.617 §19; 1983 c.258 §8; 2001 c.300 §64; 2009 c.224 §6; 2013 c.145 §16]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.490 - Real Estate Account; disposition of receipts.

(1) There is established in the General Fund of the State Treasury the Real Estate Account. All moneys, fees and charges collected or received by the Real Estate Agency shall be deposited in the account.
(2) The moneys in the Real Estate Account are continuously appropriated for the payment of the expenses of the agency in carrying out the provisions of ORS 92.305 to 92.495, 94.803, 94.807 to 94.945, 100.005 to 100.910, 100.990, 696.010 to 696.785, 696.800 to 696.870 and 696.995. [Amended by 1955 c.457 §2; 1961 c.309 §4; 1963 c.440 §16; 1963 c.580 §50; 1965 c.617 §7; 1971 c.293 §2; 1974 c.26 §1; 1977 c.41 §2; 1981 c.85 §11; 1983 c.17 §30; 1983 c.530 §53; 1985 c.565 §117]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.495 - Revolving fund; amount; use; procedure for repayment.

(1) Upon written request by the Real Estate Agency, the Oregon Department of Administrative Services shall draw a warrant on the Real Estate Account, established by ORS 696.490, for use as a revolving fund. Warrants drawn to establish or increase the revolving fund, rather than to reimburse the revolving fund, may not exceed the aggregate sum of $1,500. The State Treasurer shall hold the revolving fund in a special account against which the Real Estate Agency may draw checks.
(2) The Real Estate Agency may use the revolving fund for the purpose of paying witness fees and other administrative expenses.
(3) All claims for reimbursement of moneys paid from the revolving fund are subject to approval by the Director of the Oregon Department of Administrative Services and by the Real Estate Commissioner. When such claims have been approved, a warrant covering them shall be drawn in favor of the Real Estate Agency and used to reimburse the revolving fund. Such warrants shall be charged against the Real Estate Account established by ORS 696.490. [1974 c.26 §3; 1977 c.41 §3]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.508 - Legislative finding; short title.

(1) The Legislative Assembly finds the activity of escrow agents in handling large sums of money and important rights of clients to be of public concern. In order to permit uniform and equitable regulation of all escrow agents and to improve the standards of escrow conduct, the provisions of ORS 696.505 to 696.590 shall be construed to grant the Real Estate Commissioner authority to protect the public.
(2) ORS 696.505 to 696.590 may be cited as the Oregon Escrow Law. [1977 c.351 §2]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.520 - Application of ORS 696.505 to 696.590.

The provisions of ORS 696.505 to 696.590 do not apply to and the term "escrow agent" does not include:
(1) Any person doing business under the laws of this state or the United States relating to banks, mutual savings banks, trust companies, savings and loan associations, consumer finance companies, or insurance companies except to the extent that the person provides real estate closing escrow services other than those permitted under subsection (3) of this section.
(2) An attorney at law rendering services in the performance of duties as attorney at law.
(3) Any firm or corporation lending money on real or personal property and which firm or corporation is subject to licensing, supervision or auditing by a federal or state agency but only to the extent of closing a loan transaction between the firm or corporation and a borrower, and seller, if a fee for escrow services is not charged to the seller.
(4) Any person doing any of the acts specified in ORS 696.505 (5) under order of any court.
(5) Any real estate broker or principal real estate broker licensed under ORS 696.022 who performs the closing for the principals in a real estate transaction handled by the broker, if the principals are not charged a separate fee for escrow services.
(6) Any collection agency registered under ORS 697.015 that is engaged in any collection or billing activity without holding documents relating to the debt. [1963 c.440 §2; 1967 c.359 §701; 1971 c.398 §1; 1977 c.351 §6; 1981 c.617 §22; 1991 c.874 §3; 2001 c.300 §37; 2003 c.427 §6; 2007 c.337 §7; 2017 c.234 §24]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.523 - Application of ORS 696.505 to 696.590 to title insurance activities.

The provisions of ORS 696.505 to 696.590 apply to those escrow activities of a title insurance company, or an insurance producer of a title insurance company which prepares abstracts or makes searches of title which are used as a basis for the insurance of titles by a title insurance company. [1971 c.398 §3; 1977 c.351 §7; 2003 c.364 §55]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.527 - Deposits in lieu of bond; payment of claims; waiver.

(1) Any escrow agent may satisfy the requirements of ORS 696.525 by depositing with the State Treasurer, in an amount equal to the surety bond required, a deposit consisting only of the following:
(a) Cash;
(b) Ample secured obligations of the United States, a state or a political subdivision thereof;
(c) Certificates of deposit, assignments of certificates of deposit or other investments described in ORS 733.650 (4), to the extent that such investments are insured by the Federal Deposit Insurance Corporation;
(d) A certified, annually renewable letter of credit executed by a financial institution and satisfactory to the Real Estate Commissioner in the amount of the surety bond required by ORS 696.525; or
(e) Any combination of paragraphs (a), (b), (c) and (d) of this subsection.
(2) The State Treasurer shall accept and hold the deposit for the faithful performance of escrow activity by the escrow agent. No claimant or judgment creditor or the escrow agent shall have the right to attach or levy upon any of the assets or securities held on deposit.
(3) The commissioner, by order, may authorize the State Treasurer to use such deposit, as follows:
(a) To satisfy any final judgment entered against the escrow agent for actual damages suffered by any person by reason of the violation of any of the provisions of ORS 696.505 to 696.590, now or hereafter enacted, or by reason of any fraud, dishonesty, misrepresentation or concealment of material fact growing out of any escrow transaction;
(b) For use in the liquidation of the escrow agent under the provisions of ORS 696.555; or
(c) To release any or all of such deposit to the escrow agent when, in the opinion of the commissioner, such deposit is no longer necessary to protect the public.
(4) The commissioner may waive the requirement of the surety bond or deposit for any escrow agent that:
(a) Demonstrates to the commissioner’s satisfaction that the capital and surplus or net worth, of such escrow agent as of the end of the previous business accounting year of the agent is equal to, or greater than, the average month-end balance of custodial funds held by such agent during the previous business accounting year; or
(b) Provides a certified, personal guarantee executed by one or more owners of the escrow agency and satisfactory to the commissioner in the amount of the surety bond required by ORS 696.525.
(5) All other claims against the bond or deposit of an escrow agent must be paid by the commissioner only upon the receipt of a final court judgment against the escrow agent and only in the amount of actual damages as ordered by the court. [1977 c.351 §3; 1981 c.617 §24; 1991 c.874 §5; 1999 c.107 §11; 2003 c.427 §8; 2009 c.174 §4]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.530 - Expiration and renewal of license; fees; rules.

(1) The license of an escrow agent expires on the June 30 after the date of issuance or on a date specified by rule of the Real Estate Commissioner. A license may be renewed as prescribed by rule of the commissioner, which may include paying any required fees.
(2) The filing fees are:
(a) For filing an original or a renewal application, $450 for the main office and $225 for each branch office.
(b) For a name change of an escrow agent, $10 for the main office plus $10 for each affected branch office.
(3) The commissioner, by rule, may provide an opportunity for the late renewal of an expired escrow agent license by an applicant who fails to renew the license by the date specified under subsection (1) of this section. [1963 c.440 §6; 1977 c.351 §9; 1977 c.873 §19; 1981 c.617 §25; 1991 c.874 §14; 1997 c.451 §2; 2003 c.427 §9; 2005 c.116 §11; 2007 c.225 §1; 2007 c.768 §54a; 2009 c.174 §5; 2017 c.193 §2]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.532 - Limited license.

(1) The Real Estate Commissioner may issue or renew a limited escrow agent license if the commissioner determines it is in the public interest.
(2) The commissioner may limit a license issued under this section:
(a) By term;
(b) To activities subject to supervision by a specific escrow agent;
(c) By conditions to be observed in the exercise of the privileges granted; or
(d) In other ways determined by the commissioner as necessary or appropriate to protect the public.
(3) A limited licensee must comply with the limitations of the license and the requirements of ORS 696.505 to 696.590 and rules adopted under ORS 696.505 to 696.590. [2003 c.427 §2; 2009 c.174 §6]
Note:
696.532 and 696.534 were added to and made a part of 696.505 to 696.590 by legislative action but were not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.534 - Records of escrow agents; rules.

(1) An escrow agent shall keep and maintain at all times in the licensed office of the agent, complete and suitable records of escrow transactions made by the agent and of the business of the agent including, but not limited to, books, papers and data clearly reflecting the financial condition of the business of the agent. The records must be open for inspection by the Real Estate Commissioner or the commissioner’s authorized representatives at all times. An escrow agent shall keep escrow records for a period of six years from the date the escrow closes or is terminated. An escrow agent may maintain the records in any format, as determined by the commissioner by rule, that allows for inspection and copying by the commissioner or the commissioner’s representatives. When an escrow agent acts as a subservicer for another escrow agent, the subservicer shall keep its records in the manner required for an escrow agent under this section.
(2) Notwithstanding the requirement of subsection (1) of this section that an escrow agent maintain escrow records in the agent’s licensed office, an escrow agent shall keep escrow records in the office in which the transaction occurred for one year from the date the escrow closes or is terminated.
(3) Notwithstanding the requirements of subsections (1) and (2) of this section to maintain escrow records in specified locations, an escrow agent may maintain escrow records at another location satisfactory to the commissioner if the escrow agent provides the commissioner with prior written notice of the proposed location. [2003 c.427 §3]
Note:
See note under 696.532.
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.541 - Authority of commissioner over escrow agents; rules.

(1) The Real Estate Commissioner shall have general supervision and control over all escrow agents doing business in this state. Subject to ORS chapter 183, the commissioner may adopt such rules as reasonably necessary for the administration and enforcement of ORS 696.505 to 696.590.
(2) All escrow agents are subject to audits or examinations by the commissioner, or the commissioner’s authorized representatives at any time the commissioner considers advisable. The commissioner may collect from each escrow agent the reasonable expenses of such audit or examination including but not limited to any administrative expense for travel.
(3) The provisions of this section and of any other section relating to the examination of the affairs of an escrow agent shall extend to an escrow agent whose license has expired or been revoked or suspended, if in the judgment of the commissioner, such agent has violated any provisions of ORS 696.505 to 696.590. [1977 c.351 §12 (enacted in lieu of 696.540); 1981 c.617 §27; 1985 c.399 §4; 1991 c.874 §7; 2001 c.300 §39; 2003 c.427 §11]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.545 - Investigation; injunction; jurisdiction.

(1) The Real Estate Commissioner may investigate either upon complaint or otherwise whenever it appears that an escrow agent has violated ORS 696.505 to 696.590 or that any person is engaging in the escrow business without being licensed under the provisions of ORS 696.505 to 696.590.
(2) If upon investigation it appears that such agent is so conducting business the commissioner may, in addition to any other remedies, bring action in the name and on behalf of the State of Oregon against such person and any other person acting in violation of ORS 696.505 to 696.590, to enjoin such person and such other person from continuing any act in violation of ORS 696.505 to 696.590.
(3) The circuit court of any county of this state is vested with jurisdiction to restrain illegal practices or transactions and may grant injunctions to prevent and restrain such illegal practices or transactions, in addition to the penalties and other remedies provided in ORS 696.505 to 696.590. The court shall have power, during the pendency of the proceedings before it to issue such preliminary restraining orders as may appear to be just and proper; and the findings of the commissioner shall be deemed to be prima facie evidence and sufficient ground, in the discretion of the court, for the issue ex parte of a preliminary restraining order.
(4) In any such court proceedings the commissioner may apply for and on due showing be entitled to have issued the court’s subpoena requiring forthwith the appearance of any defendant and employees of the defendant and the production of documents, books and records as may appear necessary for the hearing of such petition, to testify and give evidence concerning the acts or conduct or things complained of in such application for injunction. [1963 c.440 §9; 1979 c.284 §194; 1981 c.617 §28; 1991 c.874 §8]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.555 - Commissioner to take possession of property and assets of escrow agent when assets or capital impaired; appointment of receiver.

(1) When the Real Estate Commissioner ascertains by examination or otherwise that the assets or capital of any agent are impaired, as described in ORS 696.535 (1)(a), the commissioner may immediately take possession of all the property, business and assets of the agent which are located in this state and retain possession of them pending the further proceedings specified in this section.
(2) Pursuant to subsection (1) of this section, the commissioner may apply to the circuit court of the county in which the agent’s principal place of business is located for an order directing the agent to show cause why a receiver should not be appointed to take charge of and manage or liquidate if necessary the assets of the agent utilized in professional escrow activity in such a manner as to prevent or minimize such financial loss to others.
(3) If the court is satisfied from reading the commissioner’s petition that the facts therein alleged, if established, warrant such receivership action, the court shall issue such order to show cause. The court may at such time, without notice, issue a temporary injunction restraining such agent, or any of the agent’s officers, directors, stockholders, members, agents or employees, from the transaction of any professional escrow activity, or the waste or disposition of any such assets until further order of the court. Should such an injunction be issued, a hearing on whether the injunction shall be continued shall be held within five business days of its service.
(4) On return of the order to show cause, and after a full hearing, the court shall either deny the application or grant the same, together with such other relief as the court may deem necessary.
(5) Notwithstanding any other provision of law, no bond shall be required of the commissioner or the commissioner’s authorized representatives as a prerequisite for the issuance of any injunction or other order pursuant to this section.
(6) At any time during such proceedings, the agent may satisfy the court that the activity which prompted such proceedings has been rectified or that financial loss to others no longer will likely occur, in which case the court may dismiss such proceedings.
(7) The expenses of the receiver, compensation of the legal counsel of the receiver, as well as all expenditures of the receiver required in such proceedings shall be fixed by the court and shall be paid out of funds in the hands of the receiver or entered as a judgment against such licensee. [1963 c.440 §10(3),(4); 1975 c.746 §30; 1981 c.617 §29; 1991 c.874 §9; 2001 c.300 §40]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.570 - Hearings procedure under ORS 696.505 to 696.590; subpoena.

(1) All hearings before the Real Estate Commissioner or the commissioner’s authorized representative conducted under the authority of ORS 696.505 to 696.590 shall be conducted in accordance with the provisions of ORS chapter 183.
(2) The commissioner, or anyone authorized by the commissioner, shall have the power to subpoena witnesses and administer oaths in connection with hearings in the enforcement of ORS 696.505 to 696.590. [1963 c.440 §13; 1981 c.617 §30a]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.575 - Civil or criminal actions not limited by ORS 696.505 to 696.590.

Nothing in ORS 696.505 to 696.590 shall limit any statutory or common law right of any person to bring any action in any court for any act involved in the transaction of the escrow business or the right of the state to punish any person for any violation of any law. [1963 c.440 §14]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.577 - Commissioner’s order against unlicensed agent.

Whenever the Real Estate Commissioner finds that any person is offering to engage in or engaging in the business of an escrow agent without a license as an escrow agent as required under ORS 696.505 to 696.590, the commissioner may order the person to cease and desist from offering to engage in or engaging in the business of an escrow agent. Any proceeding under this section is subject to the requirements of ORS chapter 183. [1981 c.617 §36]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.578 - Deposit and designation of funds held in escrow; treatment of earnings on escrow account; notice.

(1) All funds received by an escrow agent to be delivered upon the close of the escrow or upon any other contingency are trust funds that must be deposited and maintained in a bank authorized to do business within this state. The funds must be deposited in a federally insured account designated as an escrow trust account and kept separate, distinct and apart from funds belonging to the escrow agent. The designation of an account as an escrow trust account indicates that the funds are not the funds of the escrow agent.
(2) Trust funds received by an escrow agent may be placed by the agent in a federally insured interest-bearing bank account, designated as an escrow trust account, but only with the prior written approval of all parties having an interest in the trust funds. The earnings of the interest-bearing account may inure to the benefit of the escrow agent if expressly approved in writing before deposit of the trust funds by all parties having an interest in the trust funds.
(3) With prior written notice to all parties who have an interest in the trust funds, an escrow agent may place trust funds received by the escrow agent in a federally insured interest-bearing bank account that is designated as an escrow trust account and the earnings of which inure to the benefit of a public benefit corporation, as defined in ORS 65.001, for distribution to organizations and individuals for first-time homebuying assistance and for development of affordable housing. The escrow agent shall select a qualified public benefit corporation to receive the interest earnings.
(4) Any bank services, as defined by rule by the Real Estate Commissioner, provided to the escrow agent may not be considered to affect the impartiality or neutrality of the escrow agent. Such services are permitted with approval in the written closing instructions of the principals.
(5) Trust funds may be invested in secured obligations of the United States, if:
(a) The depositing principal gives prior written approval to the escrow agent for such investment after receiving written disclosure as may be required by rule adopted by the commissioner;
(b) The depositing principal releases the escrow agent from any liability for loss of the trust funds;
(c) The depositing principal agrees that any loss of trust funds may not be a claim against the bond, deposit or personal guarantee of the agent under ORS 696.525 and 696.527; and
(d) The escrow agent does not have any interest in the investment or earnings from the investment.
(6) If the trust funds to be invested represent earnest money in a transaction, both principals in the transaction must give prior written approval for the investment and are both considered depositing principals. [Formerly 696.560; 1991 c.874 §10; 2003 c.224 §2; 2003 c.427 §12; 2009 c.174 §10]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.579 - Funds exempt from execution or attachment; designation of funds.

(1) Escrow or trust funds are not subject to execution or attachment on any claim against the escrow agent.
(2) No person shall knowingly keep or cause to be kept any funds or money in any bank under the heading of "trust funds" or "escrow accounts" or any other name designating such funds or money as belonging to the clients of any escrow agency, except actual escrow or trust funds deposited with such agency. [Formerly 696.565]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.585 - Civil penalties.

(1) Any person who violates any provision of ORS 696.505 to 696.590, or any lawful rule or final order of the Real Estate Commissioner or any final judgment made by any court upon application of the commissioner, may be required to forfeit and pay to the General Fund of the State Treasury, a civil penalty in an amount determined by the commissioner of not more than $3,000 for each offense. Each violation shall be deemed a separate offense.
(2) In addition to the civil penalty set forth in subsection (1) of this section, any person who violates any provision of ORS 696.505 to 696.590, any lawful rule or final order of the commissioner or any final judgment made by a court upon application to the commissioner, may be required to forfeit and pay to the General Fund of the State Treasury, a civil penalty in an amount determined by the commissioner but not to exceed the amount by which such person profited in any transaction that violates any such provision, rule, order or judgment.
(3) Civil penalties under this section shall be imposed in the manner provided by ORS 183.745.
(4) The provisions of this section are in addition to and not in lieu of any other enforcement provision contained in ORS 696.505 to 696.590. [1975 c.746 §32; 1981 c.617 §31; 1983 c.696 §26a; 1989 c.706 §24; 1991 c.734 §85; 1991 c.874 §12; 2003 c.427 §13; 2003 c.576 §544; 2009 c.174 §8]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.590 - Penalty amounts.

(1) Any person who violates ORS 696.511 (1) may be required by the Real Estate Commissioner to forfeit and pay to the General Fund of the State Treasury a civil penalty in an amount determined by the commissioner of:
(a) Not less than $500 nor more than $1,000 for the first offense of unlicensed professional escrow activity; and
(b) Not less than $1,000 nor more than $3,000 for the second and subsequent offenses of unlicensed professional escrow activity.
(2) In addition to the civil penalty set forth in subsection (1) of this section, any person who violates ORS 696.511 may be required by the commissioner to forfeit and pay to the General Fund of the State Treasury a civil penalty in an amount determined by the commissioner but not to exceed the amount by which such person profited in any transaction which violates ORS 696.511.
(3) Civil penalties under this section must be imposed in the manner provided in ORS 183.745.
(4) The civil penalty provisions of subsections (1) and (2) of this section are in addition to and not in lieu of the criminal penalties for unlicensed professional escrow activity in ORS 696.990 (1) and (2). [1991 c.874 §17; 2003 c.427 §14]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.600 - Definitions for ORS 696.392, 696.600 to 696.785 and 696.995.

As used in ORS 696.392, 696.600 to 696.785 and 696.995:
(1) "Employee" includes an individual who has an independent contractual relationship with a real estate marketing organization and performs real estate marketing activity.
(2) "Real estate marketing activity" means procuring or offering to procure prospects to purchase, sell, lease or rent real estate by telemarketing, mail or otherwise.
(3) "Real estate marketing organization" means any person, including a partnership, association, corporation, limited liability company or other organization, other than a real estate marketing employee, that engages in real estate marketing activity and is licensed under ORS 696.606.
(4)(a) "Real estate marketing employee" means an individual who receives compensation from a real estate marketing organization for performing real estate marketing activity.
(b) "Real estate marketing employee" does not mean an individual licensed under ORS 696.022. [1995 c.217 §2; 2001 c.300 §65; 2007 c.319 §16]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.603 - License requirement.

(1) A person may not engage in real estate marketing activity unless that person is:
(a) Licensed under ORS 696.606;
(b) Licensed under ORS 696.022; or
(c) Registered by a person licensed under ORS 696.606.
(2) No person may employ an individual as a real estate marketing employee unless the person registers the individual with the Real Estate Commissioner as the employee of the real estate marketing organization before the individual commences real estate marketing activity.
(3) This section applies to persons who:
(a) Initiate real estate marketing activity in this state; or
(b) Initiate real estate marketing activity in another state that includes contacting persons in this state.
(4) One act or transaction of real estate marketing activity is sufficient to constitute engaging in real estate marketing activity within the meaning of this section. [1995 c.217 §3; 2001 c.300 §66]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.609 - Exemptions from ORS 696.392, 696.600 to 696.785 and 696.995.

ORS 696.392, 696.600 to 696.785 and 696.995 do not apply to an individual licensed under ORS 696.022 or to those persons exempt under ORS 696.030 from licensing under ORS 696.020. [1995 c.217 §5; 2001 c.300 §42; 2007 c.319 §17]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.612 - Grounds for disciplinary action.

The Real Estate Commissioner may suspend or revoke the license of any real estate marketing organization or reprimand any licensee, or may deny the issuance or renewal of a license to an applicant who has done any of the following:
(1) Knowingly or negligently pursued a course of material misrepresentation in matters related to real estate marketing activity, whether or not damage or injury resulted, or knowingly or negligently made any material misrepresentation or material false promise in a matter related to real estate marketing activity if the material misrepresentation or material false promise created a reasonable probability of damage or injury, whether or not damage or injury actually resulted.
(2) Failed, within a reasonable time, to account for or to remit any moneys or to surrender to the rightful owner any documents or other valuable property coming into the possession of the real estate marketing organization that belongs to others.
(3) Disregarded or violated any provision of this section, ORS 696.603 or 696.606 or any rule adopted pursuant thereto.
(4) Guaranteed, authorized or permitted any person to guarantee future profits that may result from the resale of real property.
(5) Failed or refused upon demand to produce or to supply true copies of any document, book or record in the possession or control of the real estate marketing organization for inspection by the commissioner or the commissioner’s authorized representative.
(6) Failed to register and maintain the current and accurate names of, and information regarding, each real estate marketing employee of the real estate marketing organization.
(7) Procured or attempted to procure a real estate marketing license by fraud, misrepresentation or deceit or by making any material misstatement of fact in an application for a real estate marketing license.
(8) Failed to exercise supervision over the activities of real estate marketing employees. For the purposes of this subsection, "supervision" means that management by an organization that is reasonably designed and implemented to result in compliance by the employees of the organization with this section, ORS 696.603 or 696.606 or any rule adopted pursuant thereto.
(9) Engaged in any act or conduct, whether of the same or of a different character specified in this subsection, that constitutes or demonstrates bad faith, incompetence, untrustworthiness or dishonest, fraudulent or improper dealings.
(10) Failed to meet or maintain the deposit requirements of ORS 696.606 (3) or (4).
(11) Failed to pay in full any final judgment on claims adjudged by the commissioner or by a court of competent jurisdiction.
(12) Violated ORS 646.608. [1995 c.217 §6]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.615 - Publication of sanctions imposed for violations.

The Real Estate Commissioner shall publish information in local newspapers pertaining to sanctions imposed for violations of ORS 696.603, 696.606 or 696.612 in a manner allowed under ORS 696.430 and 696.445 (3). [1995 c.217 §7]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.618 - Denial of right to court action for unlicensed real estate marketing organization.

No person carrying on, conducting or transacting any real estate marketing activity may maintain any suit or action in any of the courts of this state to enforce any claim arising out of real estate marketing activity without alleging and proving that the person was licensed under ORS 696.606 at the time of performing such activities. [1995 c.217 §8]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.621 - Real Estate Marketing Account.

The Real Estate Marketing Account is established as an account in the General Fund of the State Treasury. All moneys received by the Real Estate Agency pursuant to ORS 696.392, 696.600 to 696.785 and 696.995 shall be paid into the State Treasury and credited to the account. All moneys in the account are appropriated continuously to the Real Estate Agency to carry out the provisions of ORS 696.392, 696.600 to 696.785 and 696.995. [1995 c.217 §9; 2001 c.300 §67]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.624 - Consent by nonresident real estate marketing organization to service of summons or process required.

(1) Every nonresident real estate marketing organization, at the time of licensing, shall file with the Real Estate Commissioner an irrevocable consent that if, in any suit or action commenced against the nonresident organization in this state arising out of a violation of any provision of ORS 696.603, 696.606 or 696.612, personal service of summons or process upon the nonresident organization cannot be made in this state after the exercise of due diligence, a valid service may be made upon the nonresident organization by service on the commissioner.
(2) The consent shall be in writing, executed and verified by an officer of the real estate marketing organization and shall set forth:
(a) The name of the real estate marketing organization.
(b) The address to which documents served upon the commissioner are to be forwarded.
(c) If the real estate marketing organization is a corporation or unincorporated association, that the consent signed by such officer was authorized by resolution duly adopted by the board of directors.
(3) The address for forwarding documents served under this section may be changed by filing a new consent in the form prescribed in subsection (2) of this section.
(4) Service on the commissioner of any summons or process shall be made by delivery to the commissioner or a clerk on duty in any office of the commissioner, and shall include duplicate copies of such summons or process, together with duplicate copies of any papers required by law to be delivered in connection with such service.
(5) When the commissioner is served with any such summons or process, the commissioner shall immediately cause one of the copies thereof, with any accompanying papers, to be forwarded by registered or certified mail, return receipt requested, to the real estate marketing organization at the address set forth in the consent.
(6) The commissioner shall keep a record of all summonses and processes, notices and demands served upon the commissioner under this section, and shall record therein the time of such service and the action with reference thereto. [1995 c.217 §11]
2023 Oregon Revised Statutes › Volume : 17 - Occupations › Chapter 696 - Real Estate and Escrow Activities › Section 696.627 - On-site inspection allowed; deposit.

(1) The Real Estate Commissioner may make an on-site inspection of any real estate marketing organization.
(2) When an on-site inspection under subsection (1) of this section is to be made, the commissioner may require the organization to advance a deposit not to exceed $200 per day, in addition to any other fee, for making the on-site inspection. Any unexpended portion of the deposit shall be refunded to the organization. [1995 c.217 §12]