reglab/statecodes huggingface dataset:
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0050 - Disclosure of Interest in Distributions

Current through Register Vol. 63, No. 7, July 1, 2024
The term "Manipulative, Deceptive or Other Fraudulent Device or
				Contrivance," as used in these rules, is hereby defined to include any act of
				any broker-dealer who is acting for a customer or for both such customer and
				some other person, or of any broker-dealer who receives or has promise of
				receiving a fee from a customer for advising such customer with respect to
				securities, designed to effect with or for the account of such customer any
				transaction in, or to induce the purchase or sale by such customer of, any
				security in the primary or secondary distribution of which such broker-dealer
				is participating or is otherwise financially interested unless such
				broker-dealer at or before the completion of each such transaction, gives or
				sends to such customer written notification of the existence of such
				participation or interest.
Stat. Auth.: ORS 59
Stats. Implemented: ORS
				  59.205(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0060 - Sales at the Market

Current through Register Vol. 63, No. 7, July 1, 2024
The term "Manipulative, Deceptive, or Other Fraudulent Device
				or Contrivance," as used in these rules, is hereby defined to include any
				representation made to a customer by a broker-dealer that such security is
				being offered to such customer "At the Market" or at a price related to the
				market price, unless such broker-dealer knows or has reasonable grounds to
				believe that a market for such security exists other than that made, created,
				or controlled by him, or by any person for whom he is acting or with whom he is
				associated in such distribution, or by any person controlled by, controlling or
				under common control with him.
Stat. Auth.: ORS 59
Stats. Implemented: ORS
				  59.205(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0070 - Use of Pro Forma Balance Sheets

Current through Register Vol. 63, No. 7, July 1, 2024
The term "Manipulative, Deceptive, or Other Fraudulent Device
				or Contrivance," as used in these rules, is hereby defined to include the use
				of financial statements purporting to give effect to the receipt and
				application of any part of the proceeds from the sale or exchange of
				securities, unless the assumptions upon which each such financial statement is
				based are clearly set forth as part of the caption to each such statement in
				type at least as large as that used generally in the body of the
				statement.
Stat. Auth.: ORS 59
Stats. Implemented: ORS
				  59.205(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0080 - Disclosure and Other Requirements When Extending or Arranging Credit in Certain Transactions

Current through Register Vol. 63, No. 7, July 1, 2024
(1) It shall
			 constitute a "Fraudulent, Deceptive, or Manipulative Act or Practice," as used
			 in these rules, for any broker-dealer to offer or sell any security to, or to
			 attempt to induce the purchase of any security by, any person in connection
			 with which such broker-dealer, directly or indirectly, offers to extend any
			 credit to or to arrange any loan for such person, or extends any credit to or
			 participates in arranging any loan for such person, unless such broker-dealer,
			 before any purchase, loan or other related element of the transaction is
			 entered into:
(a) Delivers to such person a
			 written statement setting forth the exact nature and extent of:
(A) Such person's obligations under the
			 particular loan arrangement, including among other things, the specific charges
			 which such person will incur under such loan in each period during which the
			 loan may continue or be extended;
(B) The risks and disadvantages which such
			 person will incur in the entire transaction, including the loan arrangement;
			 and
(C) All commissions, discounts,
			 and other remuneration received and to be received, in connection with the
			 entire transaction, including the loan arrangement, by the broker-dealer, by
			 any person controlling, controlled by, or under common control with the
			 broker-dealer and by any other person participating in the transaction;
			 and
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0090 - Identification of Quotations

Current through Register Vol. 63, No. 7, July 1, 2024
(1) It shall
			 constitute a "Fraudulent, Deceptive, or Manipulative Act or Practice," as used
			 in these rules, for any broker-dealer to effect any transaction in, or induce
			 or attempt to induce the purchase or sale of any security by making a
			 fictitious quotation.
(2) It shall
			 constitute an attempt to induce the purchase or sale of a security by making a
			 "Fictitious Quotation," within the meaning of these rules, for any
			 broker-dealer to furnish or submit, directly or indirectly, any quotation for a
			 security to an inter-dealer-quotation system, unless:
(a) The inter-dealer-quotation system is
			 informed, if such is the case, that the quotation is furnished or submitted:
(A) By a correspondent broker-dealer for the
			 account or in behalf of another broker-dealer and, if so, the identity of such
			 other broker-dealer; and/or
(B) In
			 furtherance of one or more other arrangements (including a joint account,
			 guarantee of profit, guarantee against loss, commission, markup, markdown,
			 indication of interest and accommodation arrangement) between or among
			 broker-dealers and, if so, the identity of each broker-dealer participating in
			 any such arrangement or arrangements; provided, however, that the provisions of
			 this subparagraph shall not apply if only one of the broker-dealers
			 participating in any such arrangement or arrangements furnishes or submits a
			 quotation with respect to the security to an inter-dealer-quotation
			 system.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0100 - Discretionary Accounts

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The term
			 "Fraudulent, Deceptive, or Manipulative Act or Practice," as used in these
			 rules, is hereby defined to include any act of any broker-dealer or associated
			 person designed to effect with or for any customer's account with respect to
			 which he is vested with any discretionary power, any transactions of purchase
			 or sale which are excessive in size or frequency in view of the financial
			 resources and character of such account.
(2) The term "Fraudulent, Deceptive, or
			 Manipulative Act or Practice," as used in these rules, is hereby defined to
			 include any act of any broker-dealer designed to effect with or for any
			 customer's account with respect to which such broker-dealer or associated
			 person is vested with any discretionary power any transaction of purchase or
			 sale, unless immediately after effecting such transaction such broker-dealer
			 makes a record of such transaction, which record includes the name of such
			 customer; the name, amount and price of the security; and the date and time
			 when such transaction took place.
Stat. Auth.: ORS 59
Stats. Implemented: ORS
				  59.205(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0110 - Hypothecation of Customer's Securities

Current through Register Vol. 63, No. 7, July 1, 2024
(1) General Provisions. The term "Fraudulent,
			 Deceptive, or Manipulative Act or Practice," as used in these rules, is hereby
			 defined to include the direct or indirect hypothecation by a broker-dealer, or
			 his arranging for or permitting, directly or indirectly, the continued
			 hypothecation of any securities carried for the account of any customer under
			 circumstances:
(a) That will permit the
			 commingling of securities carried for the account of any such customer with
			 securities carried for the account of any other customer, without first
			 obtaining the written consent of each such customer to such
			 hypothecation;
(b) That will permit
			 such securities to be commingled with securities carried for the account of any
			 person other than a bona fide customer of such broker-dealer under a lien for a
			 loan made to such broker-dealer; or
(c) That will permit securities carried for
			 the account of customers to be hypothecated, or subjected to any lien or liens
			 or claims of the pledgee or pledgees, for a sum which exceeds the aggregate
			 indebtedness of all customers in respect of securities carried for their
			 accounts; except that this clause shall not be deemed to be violated by reason
			 of an excess arising on any day through the reduction of the aggregate
			 indebtedness of customers on such day; provided that funds or securities in an
			 amount sufficient to eliminate such excess are paid or placed in transfer to
			 pledgee for the purpose of reducing the sum of the liens or claims to which
			 securities carried for the account of customers are subject as promptly as
			 practicable after such reduction occurs, but before the lapse of one-half hour
			 after the commencement of banking hours on the next banking day at the place
			 where the largest principal amount of loans of such broker-dealer are payable
			 and, in any event, before such broker-dealer on such day has obtained or
			 increased any bank loan collateralized by securities carried for the account of
			 customers.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0120 - Transmission or Maintenance of Payments Received in Connection With Underwritings

Current through Register Vol. 63, No. 7, July 1, 2024
It shall constitute a "Fraudulent, Deceptive, or Manipulative
				Act or Practice," as used in these rules, for any broker-dealer participating
				in any distribution of securities, other than a firm commitment underwriting,
				to accept any part of the sale price of any security being distributed
				unless:
(1) The money or other
			 consideration received is promptly transmitted to the persons entitled thereto;
			 or
(2) If the distribution is being
			 made on an "all-or-none" basis, or subject to an order of the Director under
			 ORS 59.085(3)(b),
			 or on any other basis which contemplates that payment is not to be made to the
			 person on whose behalf the distribution is being made until some further event
			 or contingency occurs:
(a) The money or other
			 consideration received is promptly deposited in a separate bank account, as
			 agent or trustee for the persons who have the beneficial interests therein,
			 until the appropriate event or contingency has occurred, and then the funds are
			 promptly transmitted or returned to the persons entitled thereto; or
(b) All such funds are promptly transmitted
			 to an escrow agent who has agreed in writing to hold all such funds in escrow
			 for the persons who have the beneficial interests therein and to transmit or
			 return such funds directly to the persons entitled thereto when the appropriate
			 event or contingency has occurred.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0140 - Suitability of Recommendations

Current through Register Vol. 63, No. 7, July 1, 2024
It shall constitute a "Fraudulent, Deceptive, or Manipulative
				Act or Practice," as used in these rules, for any broker-dealer or associated
				person to recommend to a customer the purchase, sale, or exchange of any
				security, unless such broker-dealer or associated person shall have reasonable
				grounds to believe that the recommendation is suitable for such customer on the
				basis of information furnished by such customer after reasonable inquiry
				concerning the customer's investment objectives, financial situation and needs
				and any other information known by such broker-dealer or associated
				person.
Stat. Auth.: ORS 59
Stats. Implemented: ORS
				  59.205(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0165 - Investment Adviser Brochure

Current through Register Vol. 63, No. 7, July 1, 2024
It shall constitute a "Fraudulent, Deceptive, or Manipulative
				Act or Practice" as used in these rules for any investment adviser to enter
				into or offer to enter into an investment advisory contract, or in any way
				perform an investment advisory contract, if the investment adviser:
(1) Fails to provide the customer with a
			 written disclosure statement which may be either a copy of Part II of Form ADV
			 or a written document containing at least the information required by Part II
			 of Form ADV:
(a) At least 48 hours prior to
			 entering into any written or oral investment advisory contract with a customer;
			 or
(b) At the time of entering into
			 any advisory contract, if the customer has a right to terminate the contract
			 without penalty within five business days after entering the
			 contract.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0170 - Compensation of Investment Advisers

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The term "Fraudulent, Deceptive, or
			 Manipulative Act or Practice," as used in these rules, is hereby defined to
			 include entering into, extending, or renewing any investment advisory contract,
			 or in any way performing any investment advisory contract entered into,
			 extended or renewed after the effective date of this rule, if such contract:
(a) Provides for compensation to the
			 investment adviser on the basis of a share of capital gains upon or capital
			 appreciation of the funds or any portion of the funds of the client, except as
			 permitted in section (3) of this rule;
(b) Fails to provide, in substance, that no
			 assignment of such contract shall be made by the investment adviser without the
			 consent of the other party to the contract; or
(c) Fails to provide, in substance, that the
			 investment adviser, if a partnership, will notify the other party to the
			 contract of any change in the membership of such partnership within a
			 reasonable time after such change.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0180 - Custody or Possession of Funds or Securities of Clients by Investment Advisers

Current through Register Vol. 63, No. 7, July 1, 2024
(1) It shall
			 constitute a "Fraudulent, Deceptive, or Manipulative Act or Practice," within
			 the meaning of these rules, for any investment adviser who has custody or
			 possession of any funds or securities in which any client has any beneficial
			 interest, to do any act or take any action, directly or indirectly, with
			 respect to any such funds or securities, unless:
(a) All such securities of each such client
			 are segregated, marked to identify the particular client who has the beneficial
			 interest therein, and held in safekeeping in some place reasonably free from
			 risk of destruction or other loss; and
(b)
(A) All
			 such funds of such clients are deposited in one or more bank accounts which
			 contain only clients' funds;
(B)
			 Such account or accounts are maintained in the name of the investment adviser
			 as agent or trustee for such clients; and
(C) The investment adviser maintains a
			 separate record for each such account which shows the name and address of the
			 bank where such account is maintained, the dates and amounts of deposits in and
			 withdrawals from such account and the exact amount of each client's beneficial
			 interest in such account; and
(c) Such investment adviser, immediately
			 after accepting custody or possession of such funds or securities from any
			 client, notifies such client in writing of the place and manner in which such
			 funds and securities will be maintained, and thereafter, if and when there is
			 any change in the place or manner in which such funds or securities are being
			 maintained, gives each such client written notice thereof; and
(d) Such investment adviser sends to each
			 client, not less frequently than once every three months, an itemized statement
			 showing the funds and securities in the custody or possession of the investment
			 adviser at the end of such period; and
(e) All such funds and securities of clients
			 are verified by actual examination at least once during each calendar year by
			 an independent public accountant. A certificate of such accountant, stating
			 that he has made an examination of such funds and securities and describing the
			 nature and extent of such examination, shall be filed with the Director
			 promptly after such examination.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0190 - Disclosure of Capacity

Current through Register Vol. 63, No. 7, July 1, 2024
It shall constitute a "Manipulative, Deceptive, or Other
				Fraudulent Act or Practice," within the meaning of these rules, for an
				investment adviser acting as principal for his own account, knowingly to sell
				any security to or purchase any security from a client for whom he is acting as
				investment adviser, or acting as broker-dealer for a person other than such
				client, knowingly to effect any sale or purchase of any security for the
				account of such client, without disclosing to such client in writing before the
				completion of the transaction the capacity in which he is acting and obtaining
				the consent of the client to such transaction.
Stat. Auth.: ORS 59
Stats. Implemented: ORS
				  59.205(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0200 - Advertisements by Investment Advisers

Current through Register Vol. 63, No. 7, July 1, 2024
(1) It shall constitute a "Fraudulent,
			 Deceptive, or Manipulative Act or Practice," within the meaning of these rules,
			 for any investment adviser, directly or indirectly, to publish, circulate, or
			 distribute any advertisement:
(a) Which
			 refers, directly or indirectly, to any testimonial of any kind concerning the
			 investment adviser or concerning any advice, analysis, report or other service
			 rendered by such investment adviser; or
(b) Which refers, directly or indirectly, to
			 past specific recommendations of such investment adviser which were or would
			 have been profitable to any person; provided, however, that this shall not
			 prohibit an advertisement which sets out or offers to furnish a list of all
			 recommendations made by such investment adviser within the immediately
			 preceding period of not less than one year if such advertisement and such list
			 if it is furnished separately:
(A) State the
			 name of each such security recommended, the date and nature of each such
			 recommendation (e.g., whether to buy, sell, or hold), the market price at that
			 time, the price at which the recommendation was to be acted upon and the market
			 price of each such security as of the most recent practicable date;
			 and
(B) Contain the following
			 cautionary legend on the first page thereof in print or type as large as the
			 largest print or type used in the body or text thereof:
"It should not be
			 assumed that the recommendations made in the future will be profitable or will
			 equal the performance of the securities in this list;"
or
(c) Which represents, directly or
			 indirectly, that any graph, chart, formula, or other device being offered can
			 in and of itself be used to determine which securities to buy or sell, or when
			 to buy or sell them; or which represents, directly or indirectly, that any
			 graph, chart, formula, or other device being offered will assist any person in
			 making his own decisions as to which securities to buy or sell, or when to buy
			 or sell them, without prominently disclosing in such advertisement the
			 limitations thereof and the difficulties with respect to its use; or
(d) Which contains any statement to the
			 effect that any report, analysis, or other service will be furnished free or
			 without charge, unless such report, analysis or other service actually is or
			 will be furnished entirely free and without any condition or obligation,
			 directly or indirectly; or
(e)
			 Which contains any untrue statement of a material fact, or which is otherwise
			 false or misleading.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 205 - DENIAL, SUSPENSION, OR REVOCATION OF LICENSE › Section 441-205-0210 - Supervision of Associated Persons

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Every broker-dealer shall exercise
			 diligent supervision over the securities activities of all of his associated
			 persons.
(2) Every associated
			 person of the broker-dealer shall be subject to the supervision of a supervisor
			 designated by such broker-dealer. The supervisor may be the broker-dealer in
			 the case of a sole proprietor, or a partner, officer, office manager, or any
			 other qualified associated person.
(3) As part of his responsibility under this
			 rule, every broker-dealer shall establish, maintain, and enforce written
			 procedures, a copy of which shall be kept in each business office, which shall
			 set forth the procedures adopted by the broker-dealer to comply with the
			 following duties imposed by this rule, and shall state at which business office
			 or offices the broker-dealer keeps and maintains the records required by OAR
			 441-195-0010:
(a) The review and written
			 approval by the designated supervisor of the opening of each new customer
			 account;
(b) The frequent
			 examination of all customer accounts to detect and prevent irregularities or
			 abuses, including a review for churning and switching of securities in
			 customers' accounts, as well as unsuitable recommendations and sales of
			 unregistered securities;
(c) The
			 prompt review and written approval by the designated supervisor of all
			 securities transactions by associated persons and all correspondence pertaining
			 to the solicitation or execution of all securities transactions by associated
			 persons;
(d) The review of back
			 office operations, i.e., all systems and procedures, including the currency and
			 accuracy of books and records, the status and causes of "Fails to Receive" and
			 "Fails to Deliver," net capital, credit extensions and financial
			 reports;
(e) The review of form,
			 content, and filing of all correspondence related in any way to the purchase or
			 sale or solicitation for the purchase or sale of securities;
(f) The review and written approval by the
			 designated supervisor of the delegation by any customer of discretionary
			 authority with respect to his account to a stated associated person or persons
			 of the broker-dealer and the prompt written approval of each discretionary
			 order entered on behalf of that account; and
(g) The prompt review and written approval of
			 the handling of all customer complaints. As used in these rules, a "Complaint"
			 is considered to be any written statement by a customer, or by any person
			 acting for a customer, which complains about the activities of the
			 broker-dealer or any associated person in connection with the solicitation or
			 execution of a transaction or the disposition of funds of that
			 customer.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 225 - CANCELLATION, WITHDRAWAL, OR SUSPENSION OF LICENSE › Section 441-225-0010 - Cancellation, Withdrawal and Suspension of the License for Broker-Dealers, Mortgage Brokers, Investment Advisers, and Salespersons

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The procedure for cancellation of a
			 license for failure to maintain a bond as required by ORS
			 59.175(4) is:
(a) Upon notification from the surety of
			 notice of intent to cancel the surety bond, the Securities Section shall send
			 written notice to the licensee. This notice shall be sent by certified mail
			 within three business days of receipt of notification from the surety. Failure
			 to send the notice within three business days will not preclude cancellation
			 under subsection (1)(b) of this rule;
(b) Cancellation of the license will occur if
			 an effective bond is not received by 5 p.m. Pacific Time seven business days
			 after the bond cancellation date. The cancellation of the license shall be
			 effective as of the bond cancellation date;
(c) An effective bond is one that commences
			 no later than the cancellation date of the previous bond.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 225 - CANCELLATION, WITHDRAWAL, OR SUSPENSION OF LICENSE › Section 441-225-0020 - Termination of Order Authorizing Use of Assumed Business Name or Trade Name

Current through Register Vol. 63, No. 7, July 1, 2024
The status of an order authorizing use of an assumed business
				name or a trade name pursuant to OAR 441-175-0171  is dependent upon the license
				status of the licensee. Therefore, without further action by the
				Director:
(1) The suspension of the
			 license suspends the order to use the assumed business name or trade name;
			 however, the end of suspension of the license automatically reinstates the
			 order authorizing use of the assumed business name or trade name; and
(2) The revocation, cancellation, withdrawal
			 or expiration of the license cancels the order authorizing use of the assumed
			 business name or trade name.
Stat. Auth.: ORS
				  59.285
Stats. Implemented: ORS
				  59.165
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 225 - CANCELLATION, WITHDRAWAL, OR SUSPENSION OF LICENSE › Section 441-225-0030 - License Conditions or Restrictions

Current through Register Vol. 63, No. 7, July 1, 2024
(1) If the Director makes a finding as
			 specified in ORS 59.205 or
			 59.215 and determines, in the
			 public interest, that the license of an applicant should be conditioned or
			 restricted, the Director may issue the license:
(a) Under the condition that the licensee be
			 subject to heightened supervision by the employing firm for a specified period
			 of time;
(b) Under the condition
			 that the licensee retake and pass a specified competency examination within a
			 specified period of time;
(c)
			 Limiting the licensee to conducting business in a specified area of the
			 industry;
(d) Restricting the
			 licensee from conducting business in a specified area of the industry;
			 or
(e) Restricting the licensee
			 from acting as a supervisor for salespersons or investment adviser
			 representatives conducting business in Oregon.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 300 - COMMODITIES › Section 441-300-0010 - Depository Receipts

Current through Register Vol. 63, No. 7, July 1, 2024
(1) As used in
			 ORS 645.020, an instrument
			 evidencing receipt of precious metals must comply with ORS Chapter 77
			 (Warehouse Receipts, Bills of Lading and Other Documents of Title).
(2) In addition to stating the quantity, the
			 receipt must state the quality of precious metal, which shall not be less than
			 minimum investment fineness:
(a) In the case
			 of the following metals minimum investment fineness is:
(A) Gold -- .995;
(B) Silver -- .999;
(C) Platinum -- .9995; and
(D) Paladium -- .999.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 300 - COMMODITIES › Section 441-300-0020 - Authorized Depositories

Current through Register Vol. 63, No. 7, July 1, 2024
Pursuant to ORS
				645.020(2)(a)(D),
				the Director designates the following depositories:
(1) Chase Manhattan Bank, 1 Chase Manhattan
			 Plaza, New York, NY 10081.
(2)
			 CitiBank, 399 Park Avenue, New York, NY 10043.
(3) Iron Mountain Depository Corporation, 26
			 Broadway, New York, NY 10004.
(4)
			 Irving Trust Company, 1 Wall Street, New York, NY 10015.
(5) Republic National Bank of New York, 450
			 5th Avenue, New York, NY 10018.
(6)
			 Swiss Bank Corporation, 4 World Trade Center, New York, NY 10048.
(7) Marine Midland Bank of New York, 130
			 Chambers Street, New York, NY 10007.
(8) Wilmington Trust Company, Rodney Square
			 North, Wilmington, DE 19890.
(9)
			 Bank of Delaware, 300 Delaware Avenue, Wilmington, DE 19899.
Stat. Auth: ORS
				  645.020 &
				  645.205
Stats. Implemented: ORS
				  645.020
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 325 - FRANCHISES › Section 441-325-0010 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
All words and phrases in OAR chapter 441, division 325, have
				meaning given them in ORS
				650.005.
Stat. Auth.: ORS 650
Stats. Implemented: ORS
				  650.005
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 325 - FRANCHISES › Section 441-325-0020 - Pre-Sale Disclosure Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
(1) No franchisor shall sell or offer to sell
			 a franchise in this state unless the franchisor delivers to the prospective
			 franchisee a disclosure document required by 16 CFR pt. 436.
(2) The franchisor must deliver the
			 disclosure document and all proposed agreements relating to the sale of the
			 franchise to the prospective franchisee at least 14 calendar days before the
			 prospective franchisee executes any agreement with the franchisor relating to
			 the sale of the franchise or at least 14 calendar days before the prospective
			 franchisee tenders or is required to tender to the franchisor any consideration
			 for the franchise including refundable deposits, whichever occurs
			 first.
(3) Failure to timely
			 provide the disclosure document and all proposed agreements required under this
			 rule is a violation of ORS
			 650.020(1).
(4) Compliance with this rule shall not be
			 construed to exempt any person engaged in the sale of a franchise in this state
			 from making such other disclosures as are material.
Publications: Publications referenced are available from the
				  agency.
Stat. Auth.: ORS
				  650.050
Stats. Implemented: ORS
				  650.020
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 325 - FRANCHISES › Section 441-325-0030 - Exemptions to Disclosure Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
The sale of or offer to sell a franchise is exempt from OAR
				441-325-0020  if any of the following circumstances apply:
(1) The sale or offer to sell is exempt or
			 excluded from delivery of a disclosure document under 16 CFR ¦
			 436.8(a).
(2) The sale or offer to
			 sell is a renewal, extension, amendment or modification of an existing
			 franchise agreement if there is:
(a) No
			 interruption in the operation of the franchise relationship;
(b) No material change adverse to the
			 franchisee in the franchise relationship; and
(c) No material change adverse to the
			 franchisee in the disclosure information previously furnished to the
			 franchisee.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 325 - FRANCHISES › Section 441-325-0040 - Offer or Sale of Franchise

Current through Register Vol. 63, No. 7, July 1, 2024
The offer or sale of a franchise by a franchisee for his own
				account or the offer or sale of the entire area franchise owned by a
				subfranchisor for his own account, is exempted from the provisions of ORS
				chapter 650 if sale is not effected by or through a franchisor, and the
				franchisor does not participate or aid in the sale thereof. A sale is not
				effected by or through a franchisor merely because a franchisor has a right to
				approve or disapprove a different franchisee.
Stat. Auth.: ORS
				  650.050
Stats. Implemented: ORS
				  650.005 &
				  650.020
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 325 - FRANCHISES › Section 441-325-0050 - Relationship to Securities Law

Current through Register Vol. 63, No. 7, July 1, 2024
A franchisor must meet the requirements of ORS
				59.005 to
				59.451,
				59.991 and
				59.995 if any part of a
				franchise offering may be considered a security.
Stat. Auth.: ORS
				  650.050
Stats. Implemented: ORS
				  59.015
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 446 - DEALER LICENSING › Section 441-446-0100 - Purpose and Scope

Current through Register Vol. 63, No. 7, July 1, 2024
OAR 441-446-0100  through 441-446-0300  contains the definitions,
				rules and requirements pertaining to businesses that engage in the business of
				selling manufactured structures. With the implementation of these rules, the
				division intends to repeal the administrative rules adopted by the Department
				of Motor Vehicles to the extent that they regulate dealers of manufactured
				structures.
Stat. Auth.: 2003 SB 468 & ORS
				  446.666
Stats. Implemented: ORS
				  446.666
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 446 - DEALER LICENSING › Section 441-446-0110 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
As used in OAR 441-446-0100  through 0300 and ORS Chapter 446,
				unless the context clearly indicates otherwise, the following definitions
				apply:
(1) "Corrected license" means a
			 manufactured structures dealer license or a limited manufactured structures
			 dealers license that has been modified from the information supplied in the
			 original application, i.e. name change, or address change.
(2) "Dealer" means a person who is required
			 to be licensed pursuant to ORS
			 446.691,
			 446.696,
			 446.701 or
			 446.706.
(3) "Dealership," "place of business," or
			 "business location," means a location within the State of Oregon, where a
			 dealer engages in the business of selling manufactured structures.
(4) "Location," "main business location," or
			 "main dealership," means a location identified and listed as the dealer's main
			 business location on the original business license application.
Stat. Auth.: ORS
				  183.335
Stat. Implemented: ORS
				  183.335
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 446 - DEALER LICENSING › Section 441-446-0200 - Dealer Licensing

Current through Register Vol. 63, No. 7, July 1, 2024
(1) To apply for
			 a dealer license, supplemental license, temporary license, or limited license,
			 a person must submit a completed division approved application form and a
			 division approved surety bond.
(2)
			 For the purposes of this section, a supplemental or corrected license shall
			 have the same expiration as the limited or dealer license.
Stat. Auth.: ORS
				  446.666
Stats. Implemented: ORS
				  446.666 &
				  446.716
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 446 - DEALER LICENSING › Section 441-446-0203 - Exemptions from Mortgage Loan Originator Licensing

Current through Register Vol. 63, No. 7, July 1, 2024
In addition to the provisions contained in ORS
				86A.203(2) through
				(4) relating to the exemption of a dealer
				from licensing as a mortgage loan originator, the following conditions
				apply:
(1)
(a) Only one limited manufactured structure
			 dealer licensee per manufactured dwelling park may claim the exemption from
			 licensing under ORS 86A.203.
(b) A manufactured structure dealer may offer
			 or negotiate the terms of a residential mortgage loan in a manufactured
			 dwelling park where a limited manufactured structure dealer claims an exemption
			 under ORS 86A.203(2)(f),
			 but the manufactured structure dealer may not acquire or hold an ownership
			 interest in the manufactured dwelling park or in the business entity holding
			 the limited manufactured structure dealer license.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 446 - DEALER LICENSING › Section 441-446-0210 - Dealer Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A dealer
			 shall file all required applications for ownership documents and trip permits,
			 or ensure required applications are completed and filed, in a manner prescribed
			 by the division.
(2) A manufactured
			 structure dealer selling manufactured homes for installation in Oregon, shall
			 present each potential buyer of a new manufactured home with a division
			 standard disclosure statement to read and sign prior to the completion of the
			 sales contract of any new manufactured home. A dealer shall give one copy of
			 the disclosure, signed by the buyer and the dealer, to the buyer and retain one
			 copy in the dealer's files for not less than five years from the date of sale.
			 Copies of signed disclosures shall be made available to the division upon
			 request.
(3) Dealers are required
			 to maintain accurate records for a period of five years. Records required to be
			 maintained include but are not limited to:
(a) A legible copy of any disclosure
			 statement provided to a purchaser;
(b) A legible copy of any trip permit issued
			 by the dealer;
(c) A record of the
			 names and addresses of all contractors retained or hired by the dealer to
			 engage in any aspect of manufactured structure installation or service work and
			 a record identifying the manufactured structures on which each contractor
			 performed work;
(d) Records of any
			 correction notices the dealer has sent to a manufacturer for repairs arranged
			 by the dealer;
(e) A record of any
			 alterations a dealer made to a manufactured structure prior to sale or as a
			 part of a sales agreement;
(f) A
			 legible copy of all records relating to a sale, including but not limited to
			 confirmation orders, diagrams, purchase options, written agreements, financing
			 applications, financing agreements, change orders, price changes, ownership
			 documents, and applications to record a structure in deed records;
			 and
(g) Records associated with
			 consignment sales.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 446 - DEALER LICENSING › Section 441-446-0300 - Violations

Current through Register Vol. 63, No. 7, July 1, 2024
Additional grounds for manufactured structure dealer license,
				denial, suspension, revocation or placement on probation, may include:
(1) Failure to maintain records or any other
			 requirements under OAR 441-446-0210;
(2) Conduct which constitutes a Class A
			 misdemeanor or any felony arising out of actions related to the selling,
			 brokering, trading or exchanging of manufactured structures or conviction of
			 such Class A misdemeanor of felony; or
(3) Conduct which constitutes an unlawful
			 practice under ORS 646.608;
(4) Failure to maintain the required bond
			 insurance or letter of credit; and
(5) A pattern of violations of any provisions
			 of ORS 446.003 to
			 446.200,
			 446.225 to
			 446.285,
			 446.395 to
			 446.420, and
			 446.561 to
			 446.756 or any rules adopted
			 thereunder.
Stat. Auth.: ORS
				  446.741
Stats. Implemented: ORS
				  446.666,
				  446.741,
				  446.746,
				  446.751&
				  446.756
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 500 - BANKING › Section 441-500-0020 - Fees for Banks, Trust Companies, Savings Banks, Extranational Institutions, Savings Associations and Call for Reports

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Definitions.
(a) As used in this rule, "assets" means;
(A) The average assets of an Oregon based
			 insured institution; or
(B) The
			 average Oregon assets of an extranational institution.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 500 - BANKING › Section 441-500-0030 - Charges for Special Examinations and Special Attention for Banks, Trust Companies, Savings Banks, Extranational Institutions and Savings Associations

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Applicability. This rule applies to a banking institution, non-Oregon
			 institution, savings institution and a holding company of an Oregon bank and
			 trust company, but not a federal bank.
(2) In addition to the schedule of fees
			 adopted in OAR 441-500-0020, "Actual costs" as charged for special examinations
			 includes:
(a) $75 an hour for each of the
			 Director's staff assigned to the special examination for time performing the
			 examination, writing reports and related administrative tasks;
(b) Reasonable actual cost to the Director
			 for a consultant hired for the particular assignment or for other state staff
			 assigned to the matter; and
(c)
			 Reasonable actual travel and per diem costs incurred by the Director or
			 staff.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 505 - BANKING SECTION (IN GENERAL) › Section 441-505-1110 - References to Federal Statutes and Regulations

Current through Register Vol. 63, No. 7, July 1, 2024
Pursuant to ORS
				706.015, references in the Bank
				Act to Federal statutes and regulations shall be construed to refer to statutes
				or regulations in effect on June 30, 2007, unless specifically provided
				otherwise in the Bank Act.
Stat. Auth.: ORS
				  706.015
Stats. Implemented: ORS
				  706.015
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 505 - BANKING SECTION (IN GENERAL) › Section 441-505-1120 - Report of Oregon Deposits

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Reporting Unit. This rule applies to:
(a) All
			 Oregon commercial banks and Oregon savings banks;
(b) All non-Oregon institutions and federal
			 banks that hold deposits of the State of Oregon or any political subdivision
			 thereof where the institution or bank meets the requirements of ORS
			 714.045; and
(c) All insured institutions or trust
			 companies authorized to take deposits in this state or to do trust business in
			 this state that certify under ORS
			 295.005(2)(c)
			 to the State Treasurer that the insured institutions or trust companies will
			 furnish reports of Oregon deposits.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 505 - BANKING SECTION (IN GENERAL) › Section 441-505-1130 - Call Reports

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Reporting
			 Unit. This rule applies to banks, other than federal banks; and extranational
			 institutions engaged in banking business in this state.
(2) Reports Called For. The Director calls
			 for a quarterly report of condition, earnings and dividends.
(3) Report Form and Contents. The report
			 shall be a copy of the Federal Financial Institutions Examination Council
			 report of condition and income form that the institution is required to file
			 with its federal regulator (hereafter "Report").
(a) A reporting unit that submits a hard copy
			 Report to its federal supervisory agency shall concurrently file a copy of the
			 same report with the Director.
(b)
			 A reporting unit that files its Report electronically with the federal
			 supervisory agency shall notify the Director in writing that it makes such
			 electronic filings. Only one notice to the Director is required, unless the
			 reporting unit changes its method of reporting to the respective federal
			 supervisory agency, in which case it shall notify the Director of the
			 change.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 505 - BANKING SECTION (IN GENERAL) › Section 441-505-1150 - Report of Trust Assets

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Reporting Unit. All companies doing trust business in Oregon and all Oregon
			 banks having trust company powers shall file a Report of Fiduciary Activity
			 ("Report") with the Director.
(2)
			 The Report shall be a copy of Schedule RC-T -- Fiduciary and Related Services
			 to the Federal Financial Institutions Examination Council call report form
			 which the institution is required to file with its federal supervisory
			 agency.
(3) The Report shall be
			 filed with the Director with the same frequency and concurrently with the
			 federal filing. Reports filed electronically with the federal supervisory
			 agency are considered filed with the Director. Trust companies not affiliated
			 with a depository institution must file a hard copy of the Report with the
			 Director.
Stat. Auth.: ORS
				  706.630
Stats. Implemented: ORS
				  706.630(4)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 505 - BANKING SECTION (IN GENERAL) › Section 441-505-1160 - Trust Company Financial Statements

Current through Register Vol. 63, No. 7, July 1, 2024
(1) All companies doing trust business in
			 Oregon must file with the Director annual financial statements prepared in
			 accordance with generally accepted accounting principles.
(2) The financial statements must be reviewed
			 by an independent accountant. If the company for its own business purposes has
			 audited financial statements prepared, a copy of the audited financial
			 statements may be filed.
(3) The
			 financial statements must be filed no later than 120 days after the end of the
			 company's fiscal year.
(4) A
			 depository institution doing trust business in Oregon is not required to file
			 financial statements for its trust business separate from its annual financial
			 statements filed with the director.
Stat. Auth.:
				  706.790
Stats. Implemented:
				  706.630