Section 726.420 – Effect of charging excessive interest or fees.
If any pawnbroker or agent, member, officer or employee thereof, or any other person is found by the Director of the Department of Consumer and Business Services to have charged, contracted for or received any interest, fees or other charges in excess of those permitted by ORS 726.390, then the pledge loan shall be void. […]
Section 726.440 – Enforcement orders.
(1) The Director of the Department of Consumer and Business Services may, if the director has reason to believe that a person has: (a) Violated, is violating or is about to violate ORS 726.040, 726.100, 726.110, 726.130, 726.270, 726.280, 726.285, 726.290, 726.300, 726.390, 726.400 or 726.410, a rule adopted under ORS 726.260 or an order […]
Section 726.450 – Tracking pledged articles; use of system; fee.
A city or county may impose and collect from a pawnbroker a fee of not more than $1 for each pledge loan the pawnbroker makes in a calendar year, except a renewal of a pledge loan, for the purpose of administering and using a system, including an electronic database, to track pledged articles. The pawnbroker […]
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 726.390 – 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 726.395 – 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 726.260 – Rules and rulings.
(1) The Director of the Department of Consumer and Business Services shall administer and enforce this chapter. (2) In accordance with ORS chapter 183, the director may adopt rules and make any specific rulings, demands and findings as may be necessary for the proper conduct of the pawnbroker business and the enforcement of this chapter. […]
Section 726.400 – Loan period; renewal; forfeiture of pledge; notice; period for redeeming pledge.
(1) Unless a pledgor and a pawnbroker agree to a longer loan period and the longer loan period is written on the pawn ticket, a pledge loan must be made for a period of 60 days. A pledge may be redeemed and the pledge loan repaid at any time before the loan period expires. A […]
Section 726.270 – Prohibited transactions.
No pawnbroker shall: (1) Transact any business between the hours of 9 p.m. and 7 a.m. except that on Saturday the pawnbroker may transact business up to the hour of 10 p.m. (2) Accept a pledge from any person who is under the age of 18 years. (3) Convert or dispose of any unredeemed pledge […]
Section 726.410 – Record of forfeited pledges.
Every pawnbroker shall keep an indelible record, fully itemized, of all forfeited pledges. The record shall contain the following information: (1) The number of the pledge. (2) The name and address of the pledgor. (3) The date of the pledge loan or the date of the last payment received as interest or principal. (4) The […]