Section 726.380 – Loss of or injury to pledge; storage of large items off premises; lien on pledge; rules.
(1) A pawnbroker is liable for the loss of a pledge or a part of a pledge or for an injury to a pledge that results from failure to exercise reasonable care. Reasonable care includes maintaining sufficient insurance coverage against possible loss as a result of fire, theft and burglary so as to protect the […]
Section 726.250 – Investigations and examinations; cost.
(1)(a) For the purpose of discovering violations of this chapter or securing information required by the Director of the Department of Consumer and Business Services under this chapter, the director at any time, either personally or by an examiner or other employee of the Department of Consumer and Business Services, may investigate the pledge loans […]
Section 726.390 – Interest rates and charges.
(1)(a) Except as provided in paragraph (b) of this subsection, a pawnbroker may not charge, contract for or receive interest at a rate in excess of three percent per month. (b) A pawnbroker may charge one month’s interest or $3 on pledge loans redeemed within the first month if interest accumulated amounts to less. The […]
Section 726.255 – Investigation of pawnbrokers; oaths; witnesses; subpoenas; depositions.
(1) For the purpose of an investigation or proceeding under the Pawnbrokers Act, the Director of the Department of Consumer and Business Services may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of books, papers, correspondence, memoranda, agreements or other documents or records that the director considers relevant […]
Section 726.395 – Charges related to firearms.
(1) A pawnbroker may charge a pledgor or customer a $3 fee if the pledgor or customer places a firearm with the pawnbroker. The pawnbroker may charge a $1 fee to renew the pledgor’s or customer’s placement of the firearm with the pawnbroker. (2) In addition to the fees described in subsection (1) of this […]
Section 726.060 – Application for license; contents; fee.
(1) An application for the license shall be in writing in a form prescribed by the Director of the Department of Consumer and Business Services. (2) The application shall contain: (a) If the applicant is an individual, the name and both the residence and business addresses of the applicant; (b) If the applicant is a […]
Section 726.070 – Applicant to furnish bond or letter of credit; actions on bond or letter of credit.
(1) A bond in the sum of $25,000 executed by the applicant as obligor, together with a surety company authorized to do business in this state as surety or an irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 in the amount of $25,000 shall accompany the application and be […]
Section 726.075 – Grounds for denial of license.
The Director of the Department of Consumer and Business Services may not grant a license to engage in the business of pawnbroker to any person if any person named in the application submitted pursuant to ORS 726.060: (1) Is insolvent, either in the sense that the person’s liabilities exceed the person’s assets or that the […]
Section 726.080 – Issuance and denial of license.
(1) Conditioned upon the applicant’s compliance with this chapter, the payment of the license fee and the filing of a bond or letter of credit on a form approved by the Attorney General, and in the absence of any reason or condition that in the judgment of the Director of the Department of Consumer and […]
Section 726.090 – Form of license; posting; transferability.
The licenses shall be in a form prescribed by the Director of the Department of Consumer and Business Services and shall state the address at which the business is to be conducted and the full name of the pawnbroker. The license shall be kept conspicuously posted in the place of business of the pawnbroker and […]