reglab/statecodes huggingface dataset:
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0255 - Payoff Information to be Furnished to Borrower Upon Request

Current through Register Vol. 63, No. 7, July 1, 2024
(1) When a borrower
			 requests the payoff information on a loan and specifies a payoff date, the
			 licensee must promptly, but in no case later than three business days, provide
			 the requested information.
(2) When
			 a borrower does not specify a payoff date, the licensee must calculate the
			 payoff amount for a date no later than 10 days after the date of the request,
			 and must provide the amount within three business days of the borrower's
			 request. When a licensee provides a payoff amount, it must also advise the
			 borrower, verbally or in writing, that interest will continue to accrue past
			 the payoff date if the loan is not paid in full.
Stat. Auth.: ORS
				  725A.092
Stats. Implemented: ORS
				  725A.056
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0271 - Requirements for Payday Loans and Title Loans

Current through Register Vol. 63, No. 7, July 1, 2024
A license must comply with the following when making payday
				loans or title loans:
(1) Interest may
			 not be compounded.
(2) The loan
			 agreement must have the following information displayed prominently in bold
			 print on the first page of the agreement:
(a)
			 The APR;
(b) The amount of the
			 loan;
(c) The amount of interest or
			 finance charge if paid when the loan is due;
(d) The total amount due on the due date;
			 and
(e) The due date must comply
			 with the disclosure requirements of Truth In Lending Act,
			 15 U.S.C.
			 1601 et seq., and Regulation Z,  12 C.F.R.
			 Part 1026, to satisfy the requirements of this section.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0272 - Requirements for Licensees

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 licensee:
(a) Must calculate daily interest
			 based upon a 365/day year.
(b) Must
			 comply with the Equal Credit Opportunity Act,  15 USC §
										1691  et seq., and
			 must provide the applicant with a written notice of the reason for declining a
			 loan. The license may provide the notice to the applicant at the time the loan
			 is declined or the notice may be mailed to the applicant. The licensee must
			 retain a copy of the notice in the borrower's files unless an exception under
			 the Equal Credit Opportunity Act applies.
(c) Must prominently post the APR inside
			 their office where customers can easily see it and the APR must be prominently
			 posted on the licensee's website so that it will be viewed by any Oregon
			 consumer prior to applying for a loan.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0275 - Conditions Applicable to Loans Made by Title Loan Licensees

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Title loan
			 contracts may not provide for the continuation of interest or other charges
			 after repossession.
(2) For tile
			 loans in default, licensees must send a written notice by first class mail, in
			 a form approved by the director, to the borrower's last known address 10 days
			 prior to repossession.
(a) The notice must be
			 dated the day it is mailed;
(b) A
			 dated copy of the notice must be placed in the borrower's file; and
(c) Repossession may not occur until the 11th
			 day from the date of the notice.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0280 - Prohibited Provisions in Loan Contract Provisions

Current through Register Vol. 63, No. 7, July 1, 2024
A licensee may not use a contract evidencing a loan that
				contains any of the following provisions:
(1) A hold harmless clause;
(2) A confession of judgment or other waiver
			 of the right to notice and the opportunity to be heard in the event of suit or
			 process;
(3) A provision in which
			 the consumer agrees not to assert any claim or defense arising out of the
			 contract against the licensee or any holder in due course; or
(4) An executory waiver or a limitation of
			 exemption from attachment, execution, or other process on real or personal
			 property held, owned by, or due to the consumer, unless the waiver applies
			 solely to property subject to a security interest executed in connection with
			 the loan.
Stat. Auth.: ORS
				  725A.060,
				  725A.062, &
				  725A.092
Stats. Implemented: ORS
				  725A.056
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0310 - Refund of Unearned Interest and Charges

Current through Register Vol. 63, No. 7, July 1, 2024
(1) If a borrower pays off a loan prior to
			 the due date, the licensee must refund all unearned interest and
			 charges.
(2) For purposes of this
			 rule, a licensee must calculate earned interest and charges by multiplying the
			 loan amount by the interest rate and dividing by 365 to find daily interest
			 then multiply that quotient by the number of days from the date the loan was
			 made to the date of pay-off counting the day after the loan was made as the
			 first day.
Example:
A borrower gets a loan of $200 on the 5th
				day of the month at 36 percent interest and comes on the 25th of the month to
				pay off the loan. The interest is calculated as follows: $200 x 0.36 = $72
				divided by 365 = $0.20 per day x 20 days = $4.00 interest. If the borrower gave
				a lender a check on the 5th for the full 31-day term ($206.12), the lender must
				refund the unearned interest of $2.12. There is no minimum interest
				amount.
Stat. Auth.: ORS
				  725A.092
Stats. Implemented: ORS
				  725A.056 &
				  725A.092
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 735 - PAYDAY AND TITLE LENDING › Section 441-735-0320 - Licensee Reporting

Current through Register Vol. 63, No. 7, July 1, 2024
Licensees are required to file an annual report by March 31for
				operations during the previous calendar year. Licensees must also provide known
				information on any felony conviction, or any conviction involving theft or
				fraud, of any executive officer, director, managing partner, or the manager of
				any office location that occurred during the reporting period that had not
				already been reported to the director. This applies to:
(1) A new qualified person or office
			 manager;
(2) A new experienced
			 person;
(3) Material changes in
			 business plan; or
(4) Any criminal
			 conviction entered against any person named in the application.
Stat. Auth.: ORS
				  725A.092
Stats. Implemented: ORS
				  725A.030
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0000 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
(1) "Advertising"
			 includes signs, inside or outside of a business premise, advertising in
			 newspapers and print media, on radio, television, and electronic media by the
			 licensee or on the licensee's behalf.
(2) "Large item" means:
(a) A boat as defined in ORS
			 830.005, a snowmobile as defined
			 in ORS 801.490, a trailer as described
			 in ORS 726.010(2)(a)(D),
			 or an all-terrain vehicle as described in ORS
			 726.380; and
(b) An item that a pawnshop in the usual
			 course of business would prefer to place in off-site storage due to its size,
			 shape, or weight.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0010 - Fees Payable by Pawnbrokers to the Director

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The annual fees paid pursuant to ORS
			 726.125(2)
			 shall be $350. For license renewals after January 1, 2020, the renewal and fee
			 are due with the filing of the annual report.
(2) Whenever the director provides extra
			 services to a pawnbroker under ORS
			 726.125(3) or
			 conducts an examination of a licensed pawnbroker under ORS
			 726.250, the director will
			 collect the cost to the division for the director and the examiners and other
			 division employees used in providing the extra services or conducting the
			 examination. The rate of charge is $75 an hour per person.
(3) In addition to the charges fixed by
			 section (2) of this rule, the director will collect any additional costs
			 directly attributable to extra services provided under ORS
			 726.125(3) or
			 an examination made under ORS
			 726.250.
(4) The director may, by order, reduce the
			 fees assessed for any specific year.
Statutory/Other Authority: ORS
				  726.125 & 726.250
Statutes/Other Implemented: ORS
				  726.125 &
				  726.250
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0015 - Repealed

Current through Register Vol. 63, No. 7, July 1, 2024
Stat. Auth.: ORS
				  726.260
Stats. Implemented: ORS
				  726.340,
				  726.390,
				  726.395 &
				  726.400
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0016 - Daily-Interest Computation

Current through Register Vol. 63, No. 7, July 1, 2024
Interest on a loan must be computed on a daily basis using a
				365-day year. The maximum charge for each day shall be 1/365th of the annual
				rate when calculating the elapsed time of the loan.
Stat. Auth.: ORS
				  726.260
Stats. Implemented: ORS
				  726.390
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0020 - Pawnbrokers Required to Use Reasonable Care in Caring for Pledges

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A pawnbroker
			 shall exercise reasonable care to protect pledges from damage, theft, and
			 burglary while storing or transporting pledged items.
(2) In complying with this rule, a pawnbroker
			 shall give serious consideration to:
(a) An
			 alarm system with a direct connection to an off-site security company or a
			 police agency;
(b) Bars on the
			 windows, extra thick doors, vaults of heavy metal and similar structural
			 deterrents to unauthorized entry;
(c) Safes for jewelry, gems and coins and
			 storage areas for guns, all of which are so constructed and located as to deter
			 and delay unauthorized entry and to provide time for a police agency or other
			 security company to respond to a call in the event of a burglary or
			 theft;
(d) The suggestions and
			 recommendations of the local law enforcement agency or agencies; and
(e) Other or similar security precautions and
			 systems.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0025 - Description of Pledged Items

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The
			 description of items in the register maintained by the pawnbroker, to satisfy
			 needs of local law enforcement, must include:
(a) Brand name;
(b) Model number, if evident;
(c) Serial number, or indicate that the item
			 doesn't have one or that the serial number isn't legible due to normal
			 wear;
(d) Any other unique
			 identifying marks, numbers, names, or letters; and
(e) A note that the item is stored off-site,
			 if applicable.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0029 - Pawnbrokers Requirements for Off-Site Storage

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The following requirements apply to the
			 use off-site storage for large items:
(a)
			 Reasonable care must be exercised to protect pledged items when transporting or
			 storing a pledged item;
(b) A
			 pawnbroker must notify the department, in a form approved by the department, at
			 least 30 days before using an off-site storage location to store large pledges
			 and within 30 days after the pawnbroker stops using the location to store any
			 large items;
(c) The off-site
			 storage location must be in Oregon;
(d) The pawn ticket must include a place
			 where the pledgor can, in writing, agree to off-site storage of the pledged
			 item. Signing the pawn ticket alone does not constitute agreement unless the
			 pawn ticket is specific for off-site storage;
(e) The pawn ticket must include a notice in
			 legible writing, with the pledgor's acknowledgement, that either, the
			 pawnbroker may take up to two days to return the item once it is redeemed, or
			 the pawnbroker may require the pledgor to notify the pawnbroker two days before
			 redemption. If a pledgor gives two days notice and redeems the pledge loan at a
			 scheduled appointment, the pawnbroker will return the large item when the
			 pledge loan is redeemed;
(f) Large
			 items must be transported to the off-site storage as soon as reasonably
			 possible;
(g) A pawnbroker must
			 provide the address of the off-site location to department staff or law
			 enforcement when requested;
(h)
			 Large pledge items stored at an off-site location alongside non-pledged items
			 must be clearly marked as pledged items. If multiple licensees are storing
			 pledged items in the same off-site storage, the licensee for each pledged item
			 must be easily identifiable;
(i)
			 Customers are not permitted access to an off-site storage location;
			 and
(j) Pawnbrokers may not store
			 more than 10 percent of the number of pledged items at the off-site storage
			 location. The 10 percent is calculated at the time the pledge loan is made. If
			 the number of pledged items off-site exceeds 10 percent, no additional pledged
			 items can be stored off-site until the percentage is 10 percent or
			 less.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0035 - Other Information to be Submitted with Annual Report

Current through Register Vol. 63, No. 7, July 1, 2024
At the same time the pawnbroker files an annual report, the
				pawnbroker must include with that annual report:
(1) A copy of the front and back of the pawn
			 ticket currently used by the pawnbroker plus any modifying language added to
			 the ticket, especially that regarding off-site storage;
(2) Any change of its mailing
			 address;
(3) Details about any
			 change in or addition of locations used to store pledged items;
(4) Specific details about any change of
			 ownership of the pawnbroker;
(5)
			 Any change in the surety bond or issuer of the surety bond;
(6) The current rate of interest and schedule
			 of fees being charged;
(7) A copy
			 of the declarations page of an insurance policy or policies showing current
			 fire, theft and burglary coverage for place of business and storage
			 locations;
(8) Specific details
			 about any insurance claims regarding theft or damage of items since the last
			 annual report; and
(9) Websites and
			 assumed business names used by the licensee.
Statutory/Other Authority: ORS
				  726.260
Statutes/Other Implemented: ORS
				  726.130
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0040 - Loan Agreement

Current through Register Vol. 63, No. 7, July 1, 2024
A pawnbroker may not capture a pledgor's race or sex on any
				copy of a loan agreement other than the copy to be provided to law
				enforcement.
Stat. Auth.: ORS
				  726.260
Stats. Implemented: ORS
				  726.280 and
				  726.285
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0045 - Advertising

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A licensed
			 pawnbroker must use its Oregon license number in any paid
			 advertising.
(2) Without a
			 pawnbroker license, a business may not use an assumed business name or
			 advertising of a business that would lead the public to believe the business is
			 a licensed pawnbroker, including use of "pawn," "hawk," "hock," or any synonym
			 of any of those terms, in the assumed business name or in advertising referring
			 to the business, whether used as a single word or part of a word.
Stat. Auth.: ORS
				  726.260
Stats. Implemented: ORS
				  726.040
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 740 - PAWNBROKERS › Section 441-740-0055 - Surrender of License

Current through Register Vol. 63, No. 7, July 1, 2024
When a pawnbroker surrenders a license, the written notice to
				the director must include:
(1) The
			 original pawnbroker license;
(2) A
			 copy of the notice posted on the front of the pawnbroker's place of business
			 notifying customers of the closure of the pawnbroker business;
(3) A list of outstanding pledge loans and a
			 description of how those loans will be handled;
(4) The physical location where pledged items
			 will be held; and
(5) The physical
			 location where the pawnbroker's books and records will be held.
Stat. Auth.: ORS
				  726.260
Stats. Implemented: ORS
				  726.190
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 745 - MONEY TRANSMITTER PROGRAM › Section 441-745-0000 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Unless a
			 specific definition is provided or the context otherwise requires, the words
			 and phrases used in OAR Chapter 441, Division 745 have the meaning given them
			 in ORS 183.310.
(2) A "Director" means the Director of the
			 Department of Consumer and Business Services and the Director's authorized
			 representatives.
(3) A "Department"
			 means the Department of Consumer and Business Services.
(4) "Nationwide Multistate Licensing System
			 and Registry" or "NMLS" means a system that the Conference of State Bank
			 Supervisors and the American Association of Residential Mortgage Regulators and
			 successors develop and maintain for participating state agencies to use to
			 register and license mortgage loan originators and non-depository companies and
			 made available at www.nationwidelicensingsystem.org [File Link Not
			 Available].
(5) A "Person" includes
			 individuals, partnerships, corporations, associations, firms, and joint stock
			 companies.
Stat. Auth.: ORS
				  717.310
Stats. Implemented: ORS
				  717.200
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 745 - MONEY TRANSMITTER PROGRAM › Section 441-745-0010 - Waiver by Director

Current through Register Vol. 63, No. 7, July 1, 2024
The Director may, either upon request or upon the Director's
				motion, waive or modify the application of any particular rule to a particular
				person when, in the Director's opinion, just and reasonable cause exists for
				such action and the waiving or modifying of such a rule would not be contrary
				to the provisions of ORS Chapter 717.
Stat. Auth.: ORS
				  717.310
Stats. Implemented: ORS
				  717
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 745 - MONEY TRANSMITTER PROGRAM › Section 441-745-0300 - Application Procedure

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Each person
			 desiring to obtain a money transmitters license shall apply to the Director by
			 submitting all information required pursuant to ORS
			 717.220 plus a list of
			 permissible investments pursuant to 717.215(3), if required.
(2) A person seeking a license must submit an
			 application attested to by an authorized owner or officer of the applicant
			 through the NMLS.
(3) Applicants
			 and licensees must comply with the registration, application, licensing, and
			 renewal processes set forth in the NMLS.
Stat. Auth.: ORS
				  717.310
Stats. Implemented: ORS
				  717.215 &
				  717.220
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 745 - MONEY TRANSMITTER PROGRAM › Section 441-745-0310 - Renewal of License

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 licensee may renew their license to conduct the business of a Money Transmitter
			 by submitting through the Nationwide Multistate Licensing System and Registry
			 (NMLS):
(a) A completed renewal
			 application.
(b) A renewal fee of
			 $500.00 pursuant to ORS
			 717.240(1) and
			 any fee required by NMLS.
(c) The
			 information required pursuant to ORS
			 717.240(2).
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 745 - MONEY TRANSMITTER PROGRAM › Section 441-745-0330 - Security Device

Current through Register Vol. 63, No. 7, July 1, 2024
Persons who were originally licensed as Sale of Checks
				licensees who renew their license under the provision of ORS
				717.245 and who currently have
				on file a security device may continue the use of the security device
				provided:
(1) The security device is
			 in an amount sufficient to meet the requirements of ORS
			 717.225; or
(2) The security device has been amended, by
			 filing a rider or otherwise, to increase the amount of the security device to
			 an amount required by ORS
			 717.225 and to reference
			 717.225.
(3) The security device
			 must be submitted through the NMLS.
Stat. Auth.: ORS
				  717.310
Stats. Implemented: ORS
				  717.225
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 745 - MONEY TRANSMITTER PROGRAM › Section 441-745-0340 - Fees, Charges Money Transmitters Pay to the Director

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The rate of
			 charge payable by a licensee is $60 an hour per person payable by the licensee
			 for the Director and each examiner or other division employee used in an
			 examination conducted under ORS
			 717.255 and for extra services
			 provided a license under
			 717.255(2).
(2) Notwithstanding the rate of charge fixed
			 by section (1) of this rule:
(a) If an
			 examiner or other division employee or the Director is required to travel out
			 of state in conducting the examination or providing the extra services, the
			 rate of charge payable by the licensee is $60 an hour per person, plus actual
			 cost of travel;
(b) If the extra
			 services or examination is performed by a consultant hired by contract for the
			 particular service or examination, the charge payable by the licensee is the
			 actual cost to the division of the contract consultant.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0000 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
For purposes of ORS
				697.500 through
				697.555 and the rules in
				Division 755:
(1) "Automated
			 check-cashing machine" means an unstaffed communications terminal that cashes
			 payment instruments and charges a fee.
(2) "Conspicuously post" means to place in
			 plain and unobstructed public view in a location and in a way, including form
			 and size and typeface, that any person seeking the services of a licensee could
			 clearly and easily see and read the contents of the posted notice.
(3) "Control" means:
(a) In the case of a corporation, direct or
			 indirect ownership or the right to control 25 percent or more of the voting
			 shares of the corporation, or the ability to elect a majority of the
			 directors;
(b) In the case of an
			 entity other than a corporation, the ability to change the principles, policies
			 or practices of the organization, whether through active or passive
			 means.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0010 - Fees Payable to the Director

Current through Register Vol. 63, No. 7, July 1, 2024
(1) All fees described in this rule must be
			 payable to the Department of Consumer and Business Services, and submitted to
			 the director either by mail to the mailing address specified on the application
			 form, in-person delivery to the address specified on the application form, or
			 through online application or renewal when online transactions are
			 available.
(2)
(a) Except as provided in (b), every initial
			 application for a check-casher license must be accompanied by an investigation
			 fee in the amount of $150.
(b) An
			 applicant possessing a current check-casher, consumer finance, payday or title
			 lending, or pawnbroker license from the Oregon Department of Consumer and
			 Business Services, which is in good standing, shall pay an investigation fee of
			 $75 if the legal entity name and control persons listed on the check-casher
			 application is the same as those listed on the applicant's current
			 check-casher, consumer finance, payday or title lending, or pawnbroker
			 license.
(c) The investigation fee
			 is nonrefundable and assessed per application regardless of the number of
			 locations being licensed.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0100 - Initial Application

Current through Register Vol. 63, No. 7, July 1, 2024
In addition to the items specified in ORS
				697.510,
				an applicant must submit:
(1) The
			 applicant's business telephone number and fax number, if any;
(2) The mailing address for the applicant's
			 principal place of business, if different than the street address;
(3) The applicant's taxpayer identification
			 number;
(4) A statement of current
			 financial condition, including a compiled balance sheet and profit-and-loss
			 statement, or if the applicant is a newly formed entity, the source of funds to
			 be used for check cashing activity;
(5) A resume or other document listing the
			 past five (5) years work experience for control persons, or persons with
			 equivalent duties for the applicant;
(6) Identifying information for control
			 persons sufficient to conduct an investigation to determine the person's
			 financial responsibility;
(7)
			 Disclosures for the applicant and each person identified in section (5) of this
			 rule, including dates and specific details, for any of the following events
			 that occurred in the 10 years before the date the application is submitted:
(a) A felony conviction;
(b) A misdemeanor conviction involving fraud,
			 misuse of money, or theft;
(c) An
			 entry of a money judgment that currently remains entirely or partially
			 unpaid;
(d) An administrative
			 action in any state resulting in civil penalties or action taken against a
			 license held by the person; or
(e)
			 A voluntary or involuntary filing for bankruptcy protection;
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0110 - Licensing Exemptions

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A person
			 engaging in the bona fide retail sale of goods or services, cashing checks only
			 from time to time, and not purporting to be a check-cashing business, is
			 exempted from licensing, regulatory fees and record keeping requirements.
(a) A person purports to be a check-cashing
			 business if the person:
(A) Advertises its
			 check-cashing service through radio, television, print media, or the Internet;
			 or
(B) Places signs on the outside
			 or facing outside of its retail location offering its check-cashing service to
			 the public.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0120 - When Initial Application Deemed Abandoned

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An initial application is deemed
			 deficient when:
(a) Responses to questions on
			 the application form created by the director are missing or
			 incomplete;
(b) Additional
			 documents or information specified in OAR 441-755-0100  are not
			 submitted;
(c) Questions raised by
			 the director to clarify information submitted are not answered; or
(d) Fees required by OAR 441-755-0020 are not
			 submitted, or are submitted but not honored by the applicant's financial
			 institution or credit card company.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0130 - Renewal of License

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 licensee may renew its license or licenses by identifying any principal place
			 of business and licensed locations being renewed, and paying the renewal fees
			 specified in OAR 441-755-0010. New locations may be added during this
			 process.
(2) Renewal fees must be
			 actually received by the Director on or before the last business day in
			 December. Fees submitted but subsequently not honored by the licensee's
			 financial institution or credit card company are considered not
			 received.
(3) If not timely
			 renewed, a license will automatically expire and become void without further
			 action of the Director.
Stat. Auth.: ORS
				  697.550
Stats. Implemented: ORS
				  697.514
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0140 - Change of Licensed Location

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 When a licensee wishes to change the place of business of a licensed location,
			 the licensee must submit to the director the original license for that
			 location, together with a written notice identifying the new location and the
			 proposed effective date of the change. The proposed effective date may not be
			 prior to the date of notice to the director. The licensee must make a photocopy
			 of the current license and post it at the licensed location. The photocopied
			 license is valid only until the effective date reflected on the amended license
			 and is then void.
(2) The director
			 will amend the license to reflect the new location and the effective date of
			 the change and return an amended original license to the licensee.
(3) No fee is required for issuing an amended
			 license.
Stat. Auth.: ORS
				  697.550
Stats. Implemented: ORS
				  697.510,
				  697.514, &
				  697.530
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0150 - Material Changes

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A licensee
			 must make written notification to the director if there is a material change to
			 any information the licensee previously filed with the director.
(2) A material change includes the following:
(a) Change to or a new item required to be
			 disclosed under OAR 441-755-0100(6);
(b) Change in form of ownership not resulting
			 in a change of control;
(c) Change
			 of address of the principal place of business;
(d) Discontinuing check-cashing activity at a
			 licensed location;
(e) Change in
			 fees charged;
(f) Identifying a
			 significant error in the data provided in an annual report;
(g) Moving required records to a new
			 location.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0160 - Assignment or Transfer of License Prohibited

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The following events will be considered
			 an assignment or transfer of the license, which is prohibited by ORS
			 697.514:
(a) A change in control of the
			 licensee;
(b) The sale or
			 assignment of all or substantially all assets of the licensee's business to
			 another person;
(c) The merger of a
			 licensee with another business that is not a licensed check-casher;
			 or
(d) A reorganization of the
			 licensee's form of business entity into another form of business entity, if the
			 reorganization results in a change of control.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0170 - Termination of License

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 licensee must notify the director in writing of its decision to cease
			 operations as a check-cashing business within seven days of its decision, and
			 return all licenses to the director within 30 days after it has voluntarily
			 ceased operations in this state.
(2) A licensee that fails to timely renew or
			 chooses not to renew the license of a licensed location must return that
			 license to the director within 15 days of the expiration date of the
			 license.
(3) A licensee that has
			 had its license or licenses suspended or revoked by the director, following
			 opportunity for hearing as provided in ORS
			 697.540(2),
			 must return the suspended or revoked license or licenses within 15 days of
			 being notified of the entry of the Final Order.
Stat. Auth.: ORS
				  697.550
Stats. Implemented: ORS
				  697.504,
				  697.514 &
				  697.540
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0200 - Posting of Information

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A
			 licensee must conspicuously post the following items at each licensed location:
(a) The license issued for that location by
			 the Director; and
(b) The fees the
			 licensee will charge customers.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0210 - Unfair or Deceptive Practices

Current through Register Vol. 63, No. 7, July 1, 2024
It is an unfair or deceptive practice for a licensee to:
(1) Impose fees contrary to posted
			 information at the location where the payment instrument is cashed.
(2) Refuse to accept valid and current
			 government-issued photo identification presented by the customer, resulting in
			 greater fees being charged to the customer.
(3) Charge fees other than the rate most
			 favorable to the consumer when a payment instrument could fit into more than
			 one category described in ORS
			 697.520.
(4) Limit the amount of cash provided to a
			 customer or require a customer to receive a payment, in whole or in part, by a
			 method that causes the customer to pay additional or further fees to the
			 licensee or other persons. This section does not apply to a transaction
			 initiated by a customer request for a money order or other alternative forms of
			 payment.
(5) Require a customer to
			 cash separate payment instruments in a manner to avoid the limitations on the
			 fees that may be charged.
(6) Alter
			 or delete any information on a cashed payment instrument.
(7) Charge check-cashing fees on a postdated
			 payment instrument accepted from a customer in a payday loan transaction with a
			 licensee that also holds a short-term lending license.
Stat. Auth.: ORS
				  697.550
Stats. Implemented: ORS
				  697.520 &
				  697.530
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0220 - Responsibility for Actions at Licensed Locations

Current through Register Vol. 63, No. 7, July 1, 2024
Regardless of the employment relationship between the licensee
				and any manager or staff person in a licensed location, the licensee will be
				held responsible for any check-cashing statute or rule violation that occurs in
				the licensed location. The licensee may not delegate or assign this
				responsibility by contract or otherwise.
Stat. Auth.: ORS
				  697.550
Stats. Implemented: ORS
				  697.540 &
				  697.542
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0300 - Required Books and Records

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 For each payment instrument cashed, the licensee must record the following
			 information:
(a) The face value amount of the
			 payment instrument; and
(b) The fee
			 charged.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 755 - CHECK-CASHER RULES › Section 441-755-0310 - Annual Report

Current through Register Vol. 63, No. 7, July 1, 2024
(1) To assist the
			 director to determine whether examination of a licensee is necessary, each
			 licensee must submit a report by April 1 for the previous calendar year's
			 check-cashing activities for each licensed location, including:
(a) The total number of payment instruments
			 cashed;
(b) The total amount of the
			 face values of all payment instruments cashed; and
(c) The total amount of fees charged for all
			 payment instruments cashed.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0000 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
The definitions of terms used in ORS
				697.005 to
				697.098,
				697.990 to
				697.992 and the rules of this
				OAR Chapter 441 Divisions 800 and 810, are:
(1) "Director" means the director of the
			 Department of Consumer and Business Services.
(2) "Employed" means working for a salary or
			 wages.
(3) "Person" means any legal
			 entity, including individuals, corporations, associations, firms and
			 partnerships.
(4) "Repossessor"
			 means a person who takes possession of an item when the installment payment has
			 been defaulted and the creditor has the right to repossess.
(5) "Solicitor" means a person who attempts
			 to obtain clients for a collection agency or payments due a client of a
			 collection agency.
(6) "Trust
			 Account" means a financial institution checking account designated "client
			 trust account" in which all funds received or handled by the collection agency
			 on behalf of the agency's clients are deposited.
Stat. Auth.: ORS 697
Stats. Implemented: ORS
				  697.085
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0020 - Duration of Registration

Current through Register Vol. 63, No. 7, July 1, 2024
All registrations shall be issued on the date all registration
				qualifications are met. Registrations issued before November 1st shall expire
				at the end of the calendar year. Registrations issued on or after November 1st
				shall expire at the end of the following calendar year.
Stat. Auth.: ORS 697
Stats. Implemented: ORS
				  697.031(3)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0030 - Renewal

Current through Register Vol. 63, No. 7, July 1, 2024
A certificate of registration may be renewed on or before the
				renewal date by submitting a request to renew the license through the
				Nationwide Multistate Licensing System along with payment of the required fee
				and submission of a current list of solicitors with desk
				names.
Stat. Auth.: ORS 697
Stats. Implemented: ORS
				  697.031(3)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0040 - Application

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Application for
			 registration shall be submitted through the Nationwide Multistate Licensing
			 System and must be accompanied by the required fee.
(2) Applications shall include:
(a) The information required by ORS
			 697.031(1)(a) through
			 (e);
(b) The name of the collection agency trust
			 account, account number and financial institution name and address;
(c) Telephone number of the collection agency
			 business;
(d) Name of the
			 collection agency business manager; and
(e) Address of all business
			 locations.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0050 - Update Filings

Current through Register Vol. 63, No. 7, July 1, 2024
At least ten days prior to a change of ownership, business
				address, business manager, or change in information relating to the trust
				account, the collection agency business shall notify the Director of the
				changes by filing the appropriate forms through the Nationwide Multistate
				Licensing System.
Stat. Auth.: ORS
				  697.085
Stats. Implemented: ORS
				  697.031(3)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0060 - Assumed Business Name

Current through Register Vol. 63, No. 7, July 1, 2024
Before registration or renewal of registration of a collection
				agency business:
(1) An individual
			 using an assumed business name shall be registered with the Secretary of
			 State.
(2) A corporation must be
			 registered to do business in Oregon with the Secretary of State.
Stat. Auth.: ORS 697
Stats. Implemented: ORS
				  697.0031(1)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0070 - Return of Accounts

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Immediately
			 upon receipt of a certified mail request from the client, a collection agency
			 business shall cease all collection attempts, unless a written contract
			 requires otherwise.
(2) A
			 collection agency business shall return all accounts to the client within 20
			 days from the receipt of the certified mail request from the client. Return of
			 accounts shall include an itemized status report for the accounts being closed,
			 showing name, amount assigned, payments collected, and amount still
			 owing.
(3) If a client requests the
			 return of accounts and there are no stipulations otherwise in a written
			 contract, the collection agency must return all documents given it relating to
			 the accounts; however, the collection agency's own work papers, contact sheets,
			 etc., are the sole property of the collection agency, and need not be sent to
			 the client.
Stat. Auth.: ORS 697
Stats. Implemented: ORS
				  697.045(2)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0080 - Office Closure

Current through Register Vol. 63, No. 7, July 1, 2024
When an agency permanently closes an office, it shall notify
				the Director, by submitting the appropriate notice through the Nationwide
				Multistate Licensing System, within five days from closure and provide the
				following information to the Director:
(1) Disposition or location of records and
			 clients' moneys.
(2) Name and
			 address of a contact person for future inquiries.
Stat. Auth.: ORS
				  697.085
Stats. Implemented: ORS
				  697.031(3)
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0090 - Joint Trust Accounts

Current through Register Vol. 63, No. 7, July 1, 2024
A trust account may not be used jointly as a trust account and
				an operating account.
Stat. Auth.: ORS 697
Stats. Implemented: ORS
				  697.058
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0100 - Audits

Current through Register Vol. 63, No. 7, July 1, 2024
Collection agencies being audited shall provide working space
				in their office for the auditor or, if office space is not available, submit
				the records being audited to the Director within ten working days of the
				request for records.
Stat. Auth.: ORS
				  697.085
Stats. Implemented: ORS
				  697.632
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0110 - Audit Charges Collection Agencies Pay to the Director

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Audit charges
			 shall be paid upon receipt of the invoice.
(2) The rate of charge payable by a
			 collection agency is $75 an hour for each person used in performance of the
			 audit conducted under ORS
			 697.058(5).
(3) Notwithstanding section (2) of this rule:
(a) If a person from the Collection Agency
			 Program is required to travel out of state to perform the work described by
			 section (2) of this rule, the rate of charge is $75 per hour plus cost to the
			 Program of travel and subsistence for each such person;
(b) If the work described in section (2) of
			 this rule is performed by a consultant hired by contract for the particular
			 work, the charge payable by the collection agency is the actual cost to the
			 Program of the contract consultant.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0120 - Claims

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Persons having
			 a claim against a collection agency may notify the Director by mail. The
			 information shall include:
(a) Name, address
			 and telephone number of the claimant;
(b) Name, address and telephone number of the
			 collection agency;
(c) The amount
			 of money involved;
(d) A brief
			 statement of the nature of the claim;
(e) A copy of the contract with relevant
			 documents attached.
Oregon Administrative Rules › Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION › Division 810 - GENERAL › Section 441-810-0130 - Response to Claims

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A copy of a
			 claim received by the Director shall be sent to the collection
			 agency.
(2) The collection agency
			 is required to respond in writing to the Director within 15 working
			 days.
Stat. Auth.: ORS
				  697.085
Stats. Implemented: ORS
				  697.058(5)