reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.655 - Compliance with director’s standards; rules.

A licensee or a person that engages in debt buying shall comply with standards that the Director of the Department of Consumer and Business Services adopts by rule. The standards, at a minimum, must require the licensee or the person to:
(1) Establish appropriate training programs that instruct employees or agents of the licensee or the person in fair debt collection practices and compliance with ORS 646.639 and 646A.670 and applicable provisions of ORS 646A.640 to 646A.673.
(2) Establish and maintain adequate processes to receive and respond to complaints from debtors and other persons and resolve disputes.
(3) Store personal information, as defined in ORS 646A.602, securely and in compliance with the requirements of ORS 646A.600 to 646A.628 and promptly provide notice of all breaches of security as provided in ORS 646A.604.
(4) Ensure the accuracy, fairness and privacy of information the debt buyer or person possesses in accordance with the requirements of the Fair Credit Reporting Act, 15 U.S.C. 1681 et seq., and Regulation V, 12 C.F.R. part 1022, both as in effect on January 1, 2018.
(5) Establish and maintain procedures for withdrawing or dismissing any legal action the debt buyer or person brings to collect a debt if ORS 12.080 or another applicable statute of limitations bars the legal action.
(6) Maintain adequate policies and procedures for producing and filing accurate and truthful affidavits.
(7) Maintain adequate policies and procedures for acquiring sufficient information about a debt or debtor to enable the debt buyer or person to establish a continuous chain of title for a debt from the original creditor to the current owner and to otherwise comply with ORS 646.639 (4), 646A.640 to 646A.673 and 646A.670. [2017 c.625 §8]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.658 - Prohibited practices.

A licensee or a person that engages in debt buying may not:
(1) Perform any act, undertake any practice or employ any device, scheme or artifice in the course of the licensee’s or the person’s business that the Director of the Department of Consumer and Business Services defines by rule as dishonest, unethical or illegal or that would operate as a deceit or fraud upon any person.
(2) Allow an errors and omissions insurance policy required under ORS 646A.646 (3) to lapse or otherwise fail to maintain the insurance policy.
(3) Fail to comply with standards the director adopts under ORS 646A.655.
(4) Knowingly make, in an application to obtain or renew a license under ORS 646A.646 or otherwise, an untrue statement of a material fact or omit to state a material fact that is necessary in order to make a statement true or not misleading in light of the circumstances under which the licensee or person makes the statement.
(5) Engage in debt buying if:
(a) A court has enjoined the licensee or person, temporarily or permanently, from engaging in debt buying or performing an act or undertaking a practice in the course of debt buying; or
(b) The licensee or person is subject to a United States Postal Service fraud order that was issued within the previous five years and that remains in effect.
(6) Violate any of the following laws or regulations as the laws or regulations apply to the licensee’s or person’s debt buying activities:
(a) The Fair Credit Reporting Act, 15 U.S.C. 1681 et seq.;
(b) Federal regulations promulgated as 16 C.F.R. part 310 under 15 U.S.C. 6101 et seq.;
(c) Federal regulations promulgated as 16 C.F.R. part 681 under sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003, P.L. 108-159; and
(d) ORS 646A.600 to 646A.628. [2017 c.625 §9]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.664 - Enforcement actions; penalties.

(1) If after conducting an investigation, initiating or conducting a proceeding or taking an enforcement action under ORS 646A.661 the Director of the Department of Consumer and Business Services determines that a licensee or a person that engages in debt buying in this state has violated ORS 646.639 or ORS 646A.640 to 646A.673 and 646A.670, a rule the director adopted or an order the director issued under ORS 646.639 or ORS 646A.640 to 646A.673 and 646A.670 or another applicable law, the director may:
(a) Order the licensee or the person to cease and desist from any act that constitutes the violation.
(b) Suspend, condition or revoke a licensee’s license or deny an application to obtain or renew a license under ORS 646A.646.
(c) Impose a civil penalty of not more than $5,000 for each violation after considering the severity of the violation, the intent of the licensee or person and any efforts the licensee or person made to remedy or mitigate the effects of the violation.
(d) Order the licensee or the person to disgorge and return all payments the licensee or person obtained from a debtor or another person in the course of or as a result of the violation.
(2) The director shall undertake an action described in this section in accordance with ORS chapter 183 and shall impose any civil penalty in accordance with ORS 183.745.
(3) Each instance in which the director determines a violation has occurred 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.
(4) If the Department of Justice and the Department of Consumer and Business Services cooperate in an enforcement action under ORS 646A.661 that results in a civil penalty, the Attorney General and the director shall agree as to which of the two departments will impose the civil penalty.
(5) The director shall deposit any amount the director receives under this section to the Consumer and Business Services Fund as provided in ORS 705.145. [2017 c.625 §11]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.667 - Preemption.

(1) Except as provided in subsection (2) of this section, the provisions of ORS 646A.640 to 646A.673 and 646A.670 preempt all charter and statutory authority of local governments in this state to require a debt buyer or a person that engages in debt buying to obtain a license, registration or other authority to engage in debt buying or to charge a fee for a license, registration or other authority to engage in debt buying.
(2) Subsection (1) of this section does not affect the authority of a local government in this state to:
(a) Charge and collect from all businesses that operate within the local government’s jurisdiction a general and nondiscriminatory fee for a license, registration or other authority to conduct business; or
(b) Levy a tax on the revenue, property or operations of the business within the local government’s jurisdiction. [2017 c.625 §12]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.670 - Legal action to collect debt; requirements for pleadings; judgments; attorney fees.

(1) A debt buyer that brings legal action to collect or brings legal action to attempt to collect purchased debt, or a debt collector that brings legal action on the debt buyer’s behalf, shall include in an initial pleading that begins the legal action:
(a) The original creditor’s name, written as the original creditor used the name in dealings with the debtor;
(b) The name, address and telephone number of the person that owns the debt and a statement as to whether the person is a debt buyer;
(c) The last four digits of the original creditor’s account number for the debt, if the original creditor’s account number for the debt had four or more digits;
(d) A detailed and itemized statement that shows:
(A) The amount the debtor last paid on the debt, if the debtor made a payment, and the date of the payment;
(B) The amount and date of the debtor’s last payment on the debt before the debtor defaulted or before the debt became charged-off debt, if the debtor made a payment;
(C) The balance due on the debt on the date on which the debt became charged-off debt;
(D) The amount and rate of interest, any fees and any charges that the original creditor imposed, if the debt buyer or debt collector knows the amount, rate, fee or charge;
(E) The amount and rate of interest, any fees and any charges that the debt buyer or any previous owner of the debt imposed, if the debt buyer or debt collector knows the amount, rate, fee or charge;
(F) The attorney fees the debt buyer or debt collector seeks, if the debt buyer or debt collector expects to recover attorney fees; and
(G) Any other fee, cost or charge the debt buyer seeks to recover; and
(e) The date on which the debt buyer purchased the debt.
(2)(a) A court may not enter a judgment for a debt buyer or debt collector that has not complied with the requirements set forth in this section.
(b) If a court grants a judgment for a debt buyer or debt collector that does not comply with the requirements set forth in this section, the debtor in a motion under ORCP 71 may petition the court for relief from the judgment or the court may grant relief on the court’s own motion.
(3) A debt buyer or debt collector may obtain attorney fees in a legal action to collect or attempt to collect a debt only if:
(a) The debt buyer or debt collector prevails in the legal action; and
(b) The contract or writing described in ORS 646.639 (4)(b) provides that the creditor may obtain attorney fees from the debtor in a legal action to collect or attempt to collect the debt or another provision of law allows an award of attorney fees to the debt buyer or debt collector.
(4) A debt buyer or a debt collector that acts on the debt buyer’s behalf shall provide to a debtor all of the documents described in ORS 646.639 (4)(b) within 30 days after receiving a request for information about the debt from the debtor. [2017 c.625 §1]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.673 - Rules.

The Director of the Department of Consumer and Business Services may adopt rules to implement the provisions of ORS 646.639 (4), 646A.640 to 646A.673 and 646A.670. [2017 c.625 §13]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.685 - Plan and methodology to establish upper payment limits for drugs sold in this state; report.

(1) The Prescription Drug Affordability Board established in ORS 646A.693 shall develop a plan for establishing upper payment limits on drugs sold in this state that are subject to affordability reviews under ORS 646A.694. The plan shall include:
(a) A methodology for establishing upper payment limits;
(b) An analysis of the resources needed by the board to implement the plan;
(c) An analysis of how upper payment limits would be enforced; and
(d) An analysis of how upper payment limits could be implemented with respect to:
(A) Plans administered by the Public Employees’ Benefit Board;
(B) Plans administered by the Oregon Educators Benefit Board;
(C) Other state-administered health benefits;
(D) Health benefit plans, as defined in ORS 743B.005; and
(E) Other forms of insurance that provide pharmaceutical benefits, to the extent permitted by federal law.
(2) No later than September 15, 2024, the Prescription Drug Affordability Board shall report to the interim committees of the Legislative Assembly related to health, in the manner provided in ORS 192.245, the following information:
(a) A detailed explanation of the plan developed under subsection (1) of this section.
(b) An analysis of potential savings from or costs of implementing the plan with respect to:
(A) The state;
(B) Insurers;
(C) Hospitals;
(D) Pharmacies; and
(E) Consumers. [2023 c.466 §3]
Note:
646A.685 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 646A or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.692 - Civil penalty.

(1) A manufacturer that fails to report or provide information as required by ORS 646A.689 may be subject to a civil penalty as provided in this section.
(2) The Department of Consumer and Business Services shall adopt a schedule of penalties, not to exceed $10,000 per day of violation, based on the severity of each violation.
(3) The department shall impose civil penalties under this section as provided in ORS 183.745.
(4) The department may remit or mitigate civil penalties under this section upon terms and conditions the department considers proper and consistent with the public health and safety.
(5) Civil penalties collected under this section shall be paid over to the State Treasurer and deposited in the General Fund to be made available for general governmental expenses. [2018 c.7 §3]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.695 - Annual fees assessed against drug manufacturers; rules.

(1) The Department of Consumer and Business Services shall adopt by rule, in consultation with the Prescription Drug Affordability Board, annual fees to be paid by manufacturers of prescription drugs that are sold in this state. The fees shall be established in amounts necessary to meet the costs of the department in administering ORS 646A.680 to 646A.697.
(2) Fees collected under this section shall be deposited in the Prescription Drug Affordability Account established in ORS 705.146. [2021 c.598 §3; 2023 c.466 §9]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.696 - Report to Health Care Cost Growth Target program and Legislative Assembly; contents of report.

No later than December 31 of each year, the Prescription Drug Affordability Board shall report to the Health Care Cost Growth Target program established in ORS 442.386 and to the interim committees of the Legislative Assembly related to health, in the manner provided in ORS 192.245, the following information:
(1) Price trends for the list of prescription drugs provided to the board by the Department of Consumer and Business Services under ORS 646A.694 (1);
(2) The prescription drugs that were reviewed under ORS 646A.694 (1); and
(3) Recommendations, if any, for legislative changes necessary to make prescription drug products more affordable in this state. [2021 c.598 §5]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.697 - Study of market for generic drugs; effect of pricing on insurance premiums; report to Legislative Assembly.

(1) As used in this section, "generic drug" means:
(a) A retail drug that is marketed or distributed in accordance with an abbreviated new drug application approved under 21 U.S.C. 355(j);
(b) An authorized generic as defined by 42 C.F.R. 447.502; or
(c) A drug that entered the market before 1962 that was not originally marketed under a new drug application.
(2) The Prescription Drug Affordability Board shall annually conduct a study of the operation of the United States market for generic drugs, both drugs dispensed by pharmacists and drugs administered by physicians, including:
(a) The prices of generic drugs on a year-to-year basis;
(b) The degree to which generic drug prices affect insurance premiums;
(c) Annual changes in health insurance cost-sharing for generic drugs;
(d) The potential for and history of generic drug shortages;
(e) The degree to which generic drug prices affect annual spending in the state medical assistance program; and
(f) Any other topic the board considers relevant to the cost of generic drugs.
(3) No later than June 1 of each calendar year, the board shall report to the Legislative Assembly the findings of the board’s study in the manner provided in ORS 192.245. [2021 c.598 §6]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.702 - Definitions for ORS 646A.702 to 646A.720.

As used in ORS 646A.702 to 646A.720:
(1) "Default" means having one or more homeowner obligations in arrears to an extent that a notice of default could properly be recorded against the residence.
(2) "Family" means a spouse, domestic partner, parent, stepparent, grandparent, child, stepchild, grandchild, sibling, aunt, uncle, cousin or in-law.
(3) "Foreclosure consultant," except as provided in ORS 646A.705, means a person that directly or through association with another makes a solicitation, representation or offer to a homeowner to perform, for or with the intent to receive compensation from or on behalf of the homeowner, a service that the solicitation, representation or offer indicates will accomplish one or more of the following:
(a) Prevent, postpone or stop a foreclosure sale.
(b) Obtain a forbearance from a beneficiary or mortgagee.
(c) Assist the homeowner in exercising a right of redemption.
(d) Obtain an extension of the period within which the homeowner may reinstate the homeowner’s obligation.
(e) Obtain the waiver of an acceleration clause that is:
(A) Contained in a promissory note or contract; and
(B) Secured by or contained in a deed of trust for, or mortgage on, a residence in foreclosure or in default.
(f) Assist the homeowner in obtaining a loan or advance of funds.
(g) Avoid or ameliorate an impairment of the homeowner’s credit resulting from a recorded notice of foreclosure or default.
(4) "Foreclosure consulting contract" means an agreement between a foreclosure consultant and a homeowner for the provision of services by a foreclosure consultant in regard to a residence in foreclosure or in default.
(5) "Homeowner" means the record owner of a residence.
(6) "Residence in foreclosure" means residential real property:
(a) Consisting of one to four single-family dwelling units;
(b) On which the owner occupies a dwelling unit; and
(c) Against which a notice of default has been recorded. [2008 c.19 §2]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.705 - Persons that are not foreclosure consultants.

The following are not foreclosure consultants for purposes of ORS 646A.702 to 646A.720:
(1) An individual licensed to practice law in this state, if performing services within an attorney-client relationship.
(2) A person that holds or is owed an obligation that is secured by a lien on a residence in foreclosure or default, if performing services in connection with the obligation or lien.
(3) A person doing business under authority of an Oregon or federal law regulating banks, trust companies, savings and loan associations, credit unions or insurance companies, or as a licensee under ORS chapter 725, if performing business services within the scope of that authority or license.
(4) A subsidiary, affiliate or agent of a person described in subsection (3) of this section, if performing business services within the scope of the person’s authority or license as the person’s subsidiary, affiliate or agent.
(5) The judgment creditor of a homeowner, if the creditor’s claim accrued before a notice of sale was sent to the creditor under ORS 86.764.
(6) A title insurer authorized to conduct business in Oregon or an insurance producer licensed to conduct business in Oregon, if performing title insurance or settlement services within the scope of that authority or license.
(7) A mortgage broker or mortgage lender licensed under ORS 86A.095 to 86A.198 to conduct business in Oregon, if acting within the scope of that license.
(8) A real estate licensee under ORS 696.022 or an escrow agent licensed under ORS 696.511, if acting within the scope of that license.
(9) A tax-exempt organization that offers counseling or advice to homeowners in foreclosure, if the organization:
(a) Is not directly or indirectly related to for-profit lenders or foreclosure purchasers;
(b) Does not contract to provide services to or receive services from for-profit lenders or foreclosure purchasers; and
(c) Has provided counseling or advice to homeowners for five years or more.
(10) A creditors’ committee, trustee or debtor in possession participating in a proceeding under the jurisdiction of the United States Bankruptcy Court.
(11) Any person whose employment with regard to a residential real property matter under the jurisdiction of the United States Bankruptcy Court is approved by order of the bankruptcy court.
(12) A person that is a member of the homeowner’s family or is owned or controlled by a member of the homeowner’s family. [2008 c.19 §3; 2011 c.9 §83]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.720 - Prohibited acts of foreclosure consultant.

A foreclosure consultant may not:
(1) Claim, demand, charge, collect or receive any compensation from a homeowner unless the foreclosure consultant has performed in good faith under the contract:
(a) Each service the foreclosure consultant contracted to perform for the homeowner; or
(b) Each service to be compensated, prior to the homeowner canceling or breaching the contract.
(2) Claim, demand, charge, collect or receive interest or other compensation that exceeds nine percent per year on any services performed, any loan by the foreclosure consultant to the homeowner or any moneys paid or advanced to the homeowner under the foreclosure consulting contract.
(3) Take a wage assignment, lien on real or personal property or other security for the payment of compensation.
(4) Receive consideration from a third party in connection with services provided by a foreclosure consultant to a homeowner, unless the consideration is first fully disclosed in writing to the homeowner.
(5) Directly or indirectly acquire an interest in a residence in foreclosure or default transferred by a homeowner with whom the foreclosure consultant has contracted, including any interest transferred to or through a member of the foreclosure consultant’s family or to or through a subsidiary, affiliate or related entity in which the foreclosure consultant or a member of the foreclosure consultant’s family is a primary member, shareholder or owner.
(6) Receive compensation from a third party for facilitating or arranging for entry into an equity conveyance as defined in ORS 646A.725 by a homeowner with whom the foreclosure consultant has contracted.
(7) Facilitate or arrange for entry into an equity conveyance as defined in ORS 646A.725 by a homeowner with whom the foreclosure consultant has contracted, if the foreclosure consultant knows or should know that the equity purchaser has failed to comply with ORS 646A.735 (1).
(8) Take a power of attorney from a homeowner except for the purpose of obtaining or inspecting documents.
(9) Induce or attempt to induce any homeowner to enter into a foreclosure consulting contract that does not comply in all respects with ORS 646A.702 to 646A.720.
(10) Directly or by implication make a statement or engage in conduct that is false, deceptive, misleading or likely to cause confusion or misunderstanding regarding a:
(a) Foreclosure consultant service;
(b) Foreclosure consulting contract; or
(c) Residence in foreclosure or default. [2008 c.19 §6]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.730 - Persons that are not equity purchasers.

The following are not equity purchasers for purposes of ORS 646A.725 to 646A.750:
(1) A party to a deed in lieu of foreclosure.
(2) A creditors’ committee, trustee or debtor in possession participating in a proceeding under the jurisdiction of the United States Bankruptcy Court.
(3) Any person whose employment with regard to a residential real property matter under the jurisdiction of the United States Bankruptcy Court is approved by order of the bankruptcy court.
(4) A family or living trust in which the equity seller is the beneficiary or a member of the beneficiary. [2008 c.19 §10]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.750 - Rebuttable presumptions; accounting; bona fide purchaser; memorandum of agreement; form.

(1) For purposes of determining whether an equity purchaser has violated ORS 646A.745 (1)(a), there is a rebuttable presumption that:
(a) An equity seller has or will have a reasonable ability to pay for a subsequent reconveyance of a residential real property if, on the date the equity seller signs the equity conveyance contract, the monthly payments projected for the equity seller’s primary housing expenses under the contract and monthly payments for regular principal and interest payments on other personal debt do not, in total, exceed 60 percent of the equity seller’s monthly gross income.
(b) The equity purchaser has failed to verify that the equity seller has a reasonable ability to pay for a subsequent reconveyance of a property if the equity purchaser has not obtained supporting documents other than a statement by the equity seller of assets, liabilities and income.
(2) If a property is resold within 24 months after an equity seller enters into an equity conveyance contract, at the time of making the equity recapture payment to the equity seller under ORS 646A.745 (1)(e), the equity purchaser shall provide the equity seller with a detailed accounting of the basis for the payment amount. The accounting shall include detailed documentation of the amounts subtracted by the equity purchaser from the resale price to determine the amount of the equity recapture payment.
(3) A bona fide purchaser that enters into a transaction with an equity seller or equity purchaser receives good title to the property, free and clear of:
(a) The rights of the parties to an equity conveyance contract or a memorandum of agreement; or
(b) Any cancellation of the equity conveyance contract.
(4) ORS 646A.725 to 646A.750 do not impose a duty on a property purchaser, settlement agent, title insurer or title insurance producer regarding the application of the proceeds of a resale of property by an equity purchaser.
(5) At the time of presenting an equity conveyance for recording, the equity purchaser shall present a memorandum of agreement for recording in the county where the residential real property is located. The memorandum of agreement must be signed by the equity purchaser and the equity seller, witnessed by a notary public and in substantially the following form:
______________________________________________________________________________
MEMORANDUM OF AGREEMENT
DATED: _________
SELLER NAME (print):
____________
PURCHASER NAME
(print): ____________
EXPIRATION DATE: _____, unless otherwise extended by written agreement between the parties.
LEGAL DESCRIPTION AND PROPERTY ADDRESS: ____________
TERMS OF
AGREEMENT: _________
TRUE AND ACTUAL CONSIDERATION
IS: ____________
SELLER SIGNATURE:
____________
PURCHASER SIGNATURE:
____________
______________________________________________________________________________ [2008 c.19 §14]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.755 - Acts not precluded.

ORS 646A.725 to 646A.750 do not preclude an equity seller from:
(1) Seeking to have a transfer of interest under an equity conveyance declared to be an equitable mortgage; or
(2) Asserting any claim against an equity purchaser for an equitable mortgage. [2008 c.19 §15]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.760 - Civil action for damages; attorney fees and costs; limitation on commencement of action.

(1) As used in this section, "equity seller" has the meaning given that term in ORS 646A.725.
(2) In addition to any action by the Attorney General under ORS 646.607 or any other cause of action, an equity seller may bring an action for damages incurred by the equity seller resulting from a violation of ORS 646A.725 to 646A.750.
(3) If a court finds that a defendant in an action under this section committed a violation of ORS 646A.725 to 646A.750 knowingly, in addition to any award of damages for other violations of ORS 646A.725 to 646A.750, the court shall award the equity seller three times the amount of the actual damages sustained by the equity seller as a result of the knowing violation.
(4) The court may award an equity seller prevailing in an action under this section reasonable attorney fees, costs and expenses. If a court finds that an equity seller brought an action under this section in bad faith or solely for purposes of harassment, the court may award a prevailing defendant reasonable attorney fees.
(5) An action under this section must be commenced within six years. [2008 c.19 §17]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.765 - Penalties.

Violation of a provision of ORS 646A.702 to 646A.720 or 646A.725 to 646A.750 is a Class A misdemeanor. [2008 c.19 §18; 2011 c.597 §260]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.770 - Definitions.

As used in ORS 646A.770 to 646A.787:
(1) "Borrower" means an individual who enters into a finance agreement that is secured by a motor vehicle or who, in connection with purchasing or leasing a motor vehicle, incurs an obligation to pay money to a creditor under terms and conditions that are specified in a finance agreement.
(2) "Creditor" means:
(a) A person that:
(A) Permits another person to defer or to pay in installments an amount due under a finance agreement that is secured by a motor vehicle; or
(B) Otherwise extends credit to another person under a finance agreement that is entered into in connection with purchasing or leasing a motor vehicle; or
(b) An assignee of a person described in paragraph (a) of this subsection.
(3) "Evaluation period" means a period of at least 30 days after the date on which a borrower purchases a guaranteed asset protection waiver during which, if the borrower did not receive a benefit from the guaranteed asset protection waiver, the borrower may cancel the guaranteed asset protection waiver and receive a full refund of the purchase price.
(4) "Finance agreement" means a contract or other agreement that is evidence of a borrower’s obligation to pay money to a creditor and that specifies the terms and conditions under which the borrower must repay the obligation.
(5) "Guaranteed asset protection waiver" means a contractual provision of or an addendum to a finance agreement that is secured by a motor vehicle under the terms of which a creditor agrees to waive the creditor’s right to collect all or part of an amount due from a borrower under the terms of the finance agreement or to release a borrower from an obligation to pay the creditor an amount due under a finance agreement if the motor vehicle:
(a) Suffers physical damage that is equivalent to a total loss; or
(b) Is stolen and is not recovered.
(6) "Insurer" means an insurer that is licensed, registered or otherwise authorized to transact insurance in this state.
(7) "Motor vehicle" means a self-propelled or towed vehicle that is designed for personal or commercial use, such as an automobile, truck, motorcycle, recreational vehicle, all-terrain vehicle, snowmobile, camper, boat, personal watercraft or a trailer for a motorcycle, boat, camper or personal watercraft.
(8) "Reimbursement insurance policy" means an insurance policy under the terms of which an insurer reimburses a creditor for an amount the creditor must waive under a guaranteed asset protection waiver. [2015 c.523 §1]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.773 - Applicability of Insurance Code; statement of costs; exemptions.

(1)(a) A guaranteed asset protection waiver is not insurance and is not subject to the provisions of the Insurance Code. A person, other than an insurer, that sells a guaranteed asset protection waiver in compliance with ORS 646A.770 to 646A.787 does not become subject to the Insurance Code by reason of the sale.
(b) Notwithstanding any other provision of law, any cost for a guaranteed asset protection waiver into which a borrower enters, whether in compliance with the Truth in Lending Act, 15 U.S.C. 1601 et seq., and regulations promulgated under the Truth in Lending Act, or not, must be stated separately in the finance agreement and is not a finance charge or interest.
(2) ORS 646A.770 to 646A.787 do not apply to:
(a) An insurance policy that an insurer offers under the provisions of the Insurance Code;
(b) A debt cancellation contract or debt suspension agreement offered in compliance with 12 C.F.R. 37.2 or 12 C.F.R. part 721, both as in effect on January 1, 2016;
(c) A state bank, as defined in ORS 706.008, or a credit union, as defined in ORS 723.008; or
(d)(A) An addendum to a finance agreement that is sold or assigned to a licensee, as defined in ORS 725.010, and that is secured by a motor vehicle, under the terms of which a creditor agrees to waive the creditor’s right to collect all or part of an amount due from a borrower under the terms of the finance agreement or to release the borrower from an obligation to pay the creditor an amount due under the finance agreement if the motor vehicle:
(i) Suffers physical damage that is equivalent to a total loss; or
(ii) Is stolen and not recovered.
(B) The addendum to the finance agreement described in subparagraph (A) of this paragraph is not insurance and is not subject to the provisions of the Insurance Code. [2015 c.523 §2; 2017 c.451 §1; 2021 c.97 §71]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.776 - Required disclosures; cancellation provisions; effect on motor vehicle purchaser’s credit.

A person may not sell a guaranteed asset protection waiver in connection with a sale of a motor vehicle that is used for personal, family or household purposes unless, at the time of the sale:
(1) The person discloses, in writing and in plain and easily understandable language:
(a) The name, address and other contact information for:
(A) The person that sells the guaranteed asset protection waiver;
(B) The creditor, if different; and
(C) Any other person that is a party to or has duties, responsibilities or other obligations under the terms of the guaranteed asset protection waiver.
(b) The purchase price of the guaranteed asset protection waiver.
(c) The terms and conditions of the guaranteed asset protection waiver, including but not limited to:
(A) Conditions under which the creditor will waive or decline to waive all or a portion of the obligation that remains under a finance agreement;
(B) The methodology for determining the amount the creditor will waive; and
(C) The length of the evaluation period.
(d) The identity, location and contact information for the person to which the borrower must submit a claim for benefits or a refund under the guaranteed asset protection waiver and the procedure the borrower must follow to submit the claim.
(e) Conditions under which the borrower may cancel the guaranteed asset protection waiver and the procedure the borrower must follow to cancel, both during the evaluation period and after the evaluation period expires, if the terms of the guaranteed asset protection waiver permit cancellation after the evaluation period expires.
(f) The formula or methodology that will apply to calculating the amount of any refund available under the terms and conditions of the guaranteed asset protection waiver if:
(A) The borrower cancels the guaranteed asset protection waiver during the evaluation period or, if permitted under the terms and conditions of the guaranteed asset protection waiver, after the evaluation period expires; or
(B) The finance agreement is terminated early.
(2) The guaranteed asset protection waiver provides that the borrower may cancel the guaranteed asset protection waiver during the evaluation period for a full refund of the purchase price if the borrower did not receive any benefits.
(3) The creditor states clearly, and the terms of the guaranteed asset protection waiver provide in writing, that purchasing a guaranteed asset protection waiver is not required in order to obtain credit or complete a purchase or lease of a motor vehicle and does not affect the terms and conditions of credit that a borrower obtains from a creditor. [2015 c.523 §3]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.779 - Determination of amount of waiver; waivers that are required and waivers that are not required.

(1) A guaranteed asset protection waiver must determine the amount that a creditor waives under the terms of the guaranteed asset protection waiver in accordance with the following methods:
(a) If primary motor vehicle insurance or third party liability insurance covers the amount of a total loss of the motor vehicle, the creditor shall waive the difference between:
(A) The primary insurer’s or the third party’s determination of the motor vehicle’s actual cash value as of the date of the total loss; and
(B) The amount the borrower owes under the finance agreement.
(b) If primary motor vehicle insurance or third party liability insurance does not cover a total loss of the motor vehicle, if an insurer that issued the primary motor vehicle insurance or the third party liability insurance is insolvent or if the primary motor vehicle insurance or third party liability insurance have stated values or limits that are less than the actual cash value of the insured motor vehicle, the creditor shall waive the difference between:
(A) The value of the motor vehicle immediately before the loss or theft of the motor vehicle, as shown in a published and generally available regional or national guide to motor vehicle values or from the best available equivalent information, as specified in the guaranteed asset protection waiver; and
(B) The amount the borrower owes under the finance agreement.
(2)(a) A guaranteed asset protection waiver need not require a creditor to waive:
(A) A motor vehicle insurance policy deductible;
(B) Delinquent, missed or deferred payments;
(C) Late fees or charges;
(D) Unearned finance charges, interest or lease charges;
(E) Unearned rental payments;
(F) Taxes;
(G) Refundable items that include, but are not limited to:
(i) Charges associated with service contracts;
(ii) Prepaid taxes and fees; or
(iii) Credit insurance; or
(H) Other similar items that the guaranteed asset protection waiver specifies.
(b) A guaranteed asset protection waiver may specify limits on the amount a creditor must waive based on a loan to value ratio, a maximum term, a maximum waiver amount or other limits.
(3) A guaranteed asset protection waiver may require a creditor to waive all or a portion of a motor vehicle insurance policy deductible. [2015 c.523 §4]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.781 - Cancellation and expiration; refunds; effect of sale, assignment or transfer.

(1)(a) A guaranteed asset protection waiver may provide that a borrower may cancel the guaranteed asset protection waiver after the evaluation period expires or that the guaranteed asset protection waiver expires if the finance agreement terminates early. If the guaranteed asset protection waiver permits a borrower to cancel as provided in this subsection and the borrower did not receive a benefit, the borrower is entitled to a pro rata refund of the unearned portion of the purchase price.
(b) A borrower shall apply in writing to the person identified in the guaranteed asset protection waiver for a refund of all or a portion of the purchase price of the guaranteed asset protection waiver within 90 days after cancellation if the borrower cancels the guaranteed asset protection waiver. If the guaranteed asset protection waiver is canceled as a result of the termination of the finance agreement, then any cancellation refund shall be provided without requiring the borrower to apply or submit a claim for the refund.
(2) The terms of the guaranteed asset protection waiver may provide that if the borrower financed the purchase of the guaranteed asset protection waiver and cancels the guaranteed asset protection waiver, if the borrower defaults on the obligation set forth in the finance agreement, if the creditor repossesses the motor vehicle that secures the obligation or if the finance agreement terminates for a reason other than the borrower’s satisfaction of the obligation set forth in the finance agreement, any refund due as a consequence of the termination may be:
(a) Paid directly to the creditor; or
(b) Applied to any outstanding balance on the obligation set forth in the finance agreement, unless the borrower has paid the obligation in full. If the borrower has paid the obligation in full, the creditor shall pay to the borrower the refund.
(3) Unless canceled as provided in this section, a guaranteed asset protection waiver remains in effect as part of the finance agreement for the term set forth in the guaranteed asset protection waiver even if the finance agreement is sold, assigned or otherwise transferred. [2015 c.523 §5]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.784 - Reimbursement insurance policies for guaranteed asset protection waivers.

(1)(a) A creditor other than a person that sells a guaranteed asset protection waiver in connection with a retail sale of a motor vehicle may insure a guaranteed asset protection waiver with a reimbursement insurance policy.
(b) A person that sells a guaranteed asset protection waiver in connection with a retail sale of a motor vehicle shall insure the guaranteed asset protection waiver with a reimbursement insurance policy that meets the requirements set forth in subsection (2) of this section.
(c) A lessor that leases a motor vehicle does not need to insure a guaranteed asset protection waiver that the lessor sells in connection with the lease.
(2) A reimbursement insurance policy for a guaranteed asset protection waiver must state:
(a) The terms of the obligation the insurer has to reimburse the creditor for amounts the creditor must waive under the terms of the guaranteed asset protection waiver;
(b) That the insurer’s obligation to reimburse the creditor extends to the creditor’s assignee or any person to which the creditor sells or transfers the finance agreement or the guaranteed asset protection waiver that the reimbursement insurance policy covers;
(c) That the reimbursement insurance policy remains in effect until canceled in accordance with applicable provisions of the Insurance Code; and
(d) That a cancellation of the reimbursement insurance policy does not affect an insurer’s obligation under the reimbursement insurance policy for guaranteed asset protection waivers that the insured sold, and for which the insurer received premium payments, before the date on which the reimbursement insurance policy was canceled.
(3) A person that sells a guaranteed asset protection waiver in connection with a sale or lease of a motor vehicle shall report to any insurer that has issued a reimbursement insurance policy to the person the number of guaranteed asset protection waiver sales and any other details the insurer requires under the terms of the reimbursement insurance policy and shall timely forward to the insurer all funds due under the terms of the reimbursement insurance policy. [2015 c.523 §6]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.787 - Fiduciary responsibilities.

(1) A person that is subject to ORS 646A.770 to 646A.787 shall act in a fiduciary capacity with respect to funds the person receives or holds for the benefit of another person.
(2) A person that sells a guaranteed asset protection waiver in connection with a retail sale of a motor vehicle may not:
(a) Charge more for the guaranteed asset protection waiver than five percent of the amount the borrower finances under a finance agreement; or
(b) Vary the benefits, terms, conditions or price of the guaranteed asset protection waiver on account of a borrower’s race, sex, sexual orientation, gender identity, income or education. [2015 c.523 §7; 2021 c.367 §28]
2023 Oregon Revised Statutes › Volume : 16 - Trade Practices, Labor and Employment › Chapter 646A - Trade Regulation › Section 646A.800 - Late fees on delinquent cable service accounts; amount; disclosure; notice.

(1) As used in this section:
(a) "Cable service" means:
(A) One-way transmission to subscribers of a video programming service;
(B) Two-way interactive service delivered over a cable system; or
(C) Any communication with subscribers necessary for the selection and use of video programming or interactive services.
(b) "Cable system" means a facility consisting of closed transmission paths and associated signal operation, reception and control equipment that is designed to provide cable service.
(2)(a) A seller of cable service may assess a late fee on delinquent subscriber accounts held by the seller that have an unpaid balance of $10 or more.
(b) A late fee assessed under subsections (2), (3) and (4) of this section shall not exceed five percent of the unpaid balance or $6, whichever is greater.
(3) The seller of cable service shall conspicuously disclose on each statement or invoice the terms under which a late fee may be assessed, including the amount of the fee.
(4) Prior to assessing a late fee under subsections (2), (3) and (4) of this section, the seller shall give written notice to the subscriber. The notice shall conspicuously indicate the amount of the unpaid balance, an address where payment may be made, the date on which the late fee will be imposed and the amount of the late fee. The notice shall be mailed to the subscriber’s last-known billing address as shown in the seller’s records. The notice shall be mailed at least 10 days prior to the date on which the late fee will be assessed. The late fee may not be assessed earlier than 27 days after the due date for the unpaid balance. [Formerly 646.649]