As used in ORS 725A.010 to 725A.092 and 725A.990: (1)(a) “Broker or facilitator” means a person that conducts a business in which, for a fee or consideration, the person: (A) Processes, receives or accepts for delivery to a lender an application for a loan, individually or in conjunction or cooperation with another person; (B) Accepts […]
(1) ORS 725A.010 to 725A.092 and 725A.990 do not limit a person’s rights, powers or privileges under a law of this state or of the United States that regulates the person’s lending money or extending credit, provided that the person complies with the provisions of the law. (2) Except as otherwise provided in subsection (3) […]
(1)(a) Except as provided in ORS 82.010, 82.020 and 82.025 and subject to subsection (2) of this section, a person may not conduct business as a payday loan lender or a title loan lender unless the person obtains a license under ORS 725A.024. (b) A person may not act as an agent, broker or facilitator […]
(1) An applicant for a license as a payday loan lender or a title loan lender shall apply to the Director of the Department of Consumer and Business Services in writing on a form and in a manner that the director prescribes by rule. An application for a license as a payday loan lender or […]
(1)(a) Within 90 days after receiving an application under ORS 725A.022, the Director of the Department of Consumer and Business Services shall issue and deliver to the applicant a license to conduct business in accordance with ORS 725A.010 to 725A.092 at the location identified in the application if the director finds that: (A) The applicant […]
(1) The Director of the Department of Consumer and Business Services may disapprove an application submitted under ORS 725A.022 and deny a license to the applicant if a person named in the application: (a) Cannot meet financial obligations as the obligations mature, has liabilities that exceed assets or is in a financial condition that prevents […]
(1) A licensee each year shall pay to the Director of the Department of Consumer and Business Services a license fee in an amount the director specifies by rule. The licensee shall pay the fee not later than the date the director sets in the rule. (2) The director shall specify the amount of the […]
(1) On or before February 15 of each year, or on a date the Director of the Department of Consumer and Business Services establishes by rule, a licensee shall file a report with the director in a form and with the content the director prescribes by rule. The report must contain information the director requires […]
(1) A licensee may not conduct a business that is subject to ORS 725A.010 to 725A.092 and 725A.990 except under the name and at the place of business named in the license. The licensee at all times shall display the license conspicuously in the licensee’s place of business. (2) A licensee that changes the location […]
(1) The Director of the Department of Consumer and Business Services may revoke a license issued under ORS 725A.024 if the director: (a) Gives the licensee 10 days’ written notice in which the director specifies the action the director will take and the general grounds for the action; (b) Provides the licensee with reasonable opportunity […]
The Director of the Department of Consumer and Business Services may reinstate a license the director revoked if the licensee: (1) Complies with applicable provisions of law; (2) Complies with a demand, ruling or requirement the director issues or imposes; and (3) Pays a fee of $25. [2010 c.23 §11]
(1) A licensee may deliver a written notice to the Director of the Department of Consumer and Business Services to surrender a license the director issued to the licensee under ORS 725A.024. (2)(a) A licensee shall surrender a license under which no material loan activity has occurred for a period of 12 consecutive months. (b) […]
Revocation, suspension or surrender of a license issued under ORS 725A.024 does not impair or affect the rights or obligations specified in a lawful contract between the licensee and a borrower that existed before the revocation, suspension or surrender. [2010 c.23 §13]
(1) The Director of the Department of Consumer and Business Services, to secure information the director requires and to ensure compliance with ORS 725A.010 to 725A.092 and 725A.990 and rules the director adopts under ORS 725A.010 to 725A.092 and 725A.990: (a) May at any time investigate a licensee or a person required under ORS 725A.020 […]
The Director of the Department of Consumer and Business Services may specify the form and content of the books and records the licensee must keep in accordance with the provisions of ORS 725A.010 to 725A.092 and 725A.990. The licensee shall preserve and make available the books and records for a period of at least two […]
(1) A director or officer of a licensee who has reason to believe that a defalcation has occurred at an office of the licensee shall report the defalcation to the local, state or federal law enforcement officer with jurisdiction. (2) A licensee, within five days after the discovery of a defalcation that occurs at an […]
A licensee shall: (1) Deliver to the borrower at the time the licensee makes a loan a statement in the English language that shows in clear and distinct terms: (a) The borrower’s and the licensee’s names and addresses. (b) The amount of the loan, the date on which the licensee made the loan and the […]
A licensee or other person may not advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, distributed or broadcast in any manner whatsoever a statement or representation that is false, misleading or deceptive with respect to a rate, term or condition for a payday loan or title […]
(1) A licensee or a person required under ORS 725A.020 to obtain a license may not: (a) Take from a consumer: (A) A power of attorney, except a power of attorney to transfer ownership of a motor vehicle at the time the licensee or the person makes a loan secured by a motor vehicle. (B) […]
A title loan lender may not: (1) Make or renew a title loan at a rate of interest that exceeds 36 percent per annum, excluding a one-time origination fee that the title loan lender may charge for the loan. (2) Charge during the term of a title loan, including all renewals of the loan, more […]
