Oregon Administrative Rules › Chapter 863 - REAL ESTATE AGENCY › Division 15 - REAL ESTATE BROKER REGULATION › Section 863-015-0081 - Compliance Reviews and Mail-in Audits

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The Agency will provide a principal real
			 estate broker with written notice at least five business days before conducting
			 a compliance review.
(2) A
			 compliance review is completed when the Agency delivers a written notice of
			 completion to the principal real estate broker.
(3) Except as provided in section (4) of this
			 rule, if the Agency determines that a principal real estate broker is not in
			 compliance with ORS 696.010 to
			 696.495,
			 696.600 to
			 696.785,
			 696.800 to
			 696.870, or OAR chapter 863
			 after the Agency completes a compliance review, the Agency will allow the
			 principal real estate broker at least 30 days from the date the compliance
			 review is completed to cure the noncompliance without sanction.
(4) Upon completion of a compliance review,
			 if the Agency has reasonable grounds to believe that the funds belonging to
			 others may be missing, funds may have been misappropriated, or that the
			 principal real estate broker's records are in such a condition that the
			 principal real estate broker is placing funds belonging to others at risk the
			 Agency may immediately initiate an investigation without providing a principal
			 real estate broker with an opportunity to cure noncompliance.
(5) The Agency will provide a principal real
			 estate broker with written notice of a mail-in audit at least 30 days before
			 required information and documentation must be provided to the Agency.
(6) After the Agency reviews the
			 information and documents provided in a mail-in audit, the Agency will take one
			 of the following actions:
(a) If the
			 information and documents are in compliance with statutes and rules, the Agency
			 will provide written notice to the principal real estate broker confirming
			 compliance only as to the information and documents provided;
(b) If the information and documents indicate
			 that the principal real estate broker may be subject to additional
			 documentation and procedural requirements that were not part of the mail-in
			 audit, the Agency will provide written notice to the principal real estate
			 broker detailing the Agency's expectations for compliance on those matters;
(c) If the information and
			 documents demonstrate that the principal real estate broker is not in
			 compliance with ORS 696.010 to
			 696.495,
			 696.600 to
			 696.785,
			 696.800 to
			 696.870, or OAR chapter 863, the
			 Agency will provide written notice to the principal real estate broker that
			 includes:
(A) The principal real estate
			 broker must cure all noncompliance issues and provide information and
			 documentation to the Agency that the noncompliance has been cured within 30
			 days of the date of the notice; and
(B) If all noncompliance issues are not cured
			 within 30 days, the Agency may impose sanctions on the principal real estate
			 broker or may initiate an investigation and not allow additional time for the
			 principal real estate broker to cure the noncompliance.
(d) If the Agency has reasonable grounds to
			 believe that the funds belonging to others may be missing, funds may have been
			 misappropriated, or that the principal real estate broker's records are in such
			 a condition that the principal real estate broker is placing funds belonging to
			 others at risk, the Agency may immediately initiate an investigation without
			 providing a principal real estate broker with an opportunity to cure
			 noncompliance.