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Statutes and Administrative Rules

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Five-year rule reviews
Proposed administrative rules
Recent rules - permanent rules not yet posted to Secretary of State Web site
Temporary administrative rules

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Administration and Enforcement of Banking Laws Generally ORS Chapter 706
Bank Holding Companies; Financial Holding Companies ORS Chapter 715
Branch Banking; Automated Teller Machines ORS Chapter 714
Fees, names, and enforcement authority ORS Chapter 705 (705.610-705.642)
Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency ORS Chapter 711
Organization to Conduct Banking Business; Stockholders, Directors and Officers ORS Chapter 707
Out-of-State Banks and Extranational Institutions ORS Chapter 713
Regulation of Institutions Generally ORS Chapter 708A
Savings banks ORS Chapter 716
Definitions; annual assessments/fees OAR Chapter 441, Div. 500
Risk-based assessment chart
General provisions OAR Chapter 441, Div. 505
Rulemaking and general procedures OAR Chapter 441, Div. 001

Check-cashing businesses

Collection Agencies; Check-Cashing Businesses; Debt Consolidating Agencies ORS Chapter 697 (697.500 to 697.555)
Check-Casher Rules OAR Chapter 441, Div. 755

Collection agencies

Collection Agencies; Check-Cashing Businesses; Debt Consolidating Agencies ORS Chapter 697 (697.005 to 697.095)
Collection agencies OAR Chapter 441, Division 810

Commodity transactions (Securities program)

Commodity transactions ORS Chapter 645
Commodity transactions (Securities program) OAR Chapter 441, Div. 300

Consumer finance

Consumer finance ORS Chapter 725
Consumer finance OAR Chapter 441, Div. 730

Credit unions

Credit unions ORS Chapter 723
Definitions, fees, membership, supervision, investments, powers, reserves OAR Chapter 441, Div. 710
Share drafts, corporate credit union, member business loans OAR Chapter 441, Div. 720

Debt management service providers

Debt management service providers ORS Chapter 697
Definitions, Registration, Renewal, Update Filings, Fees Business Activities, Records; Reports OAR Chapter 441, Div. 910
Appendix A to OAR 441-910-0099 Examples of allowable fees

Franchise transactions (Securities program)

Franchise transactions ORS Chapter 650
Franchise transactions OAR Chapter 441, Div. 325

Identity theft

Identity Theft ORS Chapter 646A 646A.600 to 646A.628
Definitions, Expenses of Providing Notification, Use of Social Security Number, Safeguarding of Personal Information OAR Chapter 441, Div. 646

Irreducible fund cemeteries

Irreducible fund cemeteries ORS Chapter 97 97.665

Manufactured structures dealer

Manufactured structure dealers and dealerships ORS Chapter 446 (446.661 through 446.995)
Dealer licensing OAR Chapter 441, Div. 446

Money transmitters

Money transmitters ORS Chapter 717
Money transmitters OAR Chapter 441, Div. 745

Mortgage lending

Mortgage lending ORS Chapter 86A
Custody of client funds OAR Chapter 441, Div. 875
License cancellation OAR Chapter 441, Div. 885
Licensing OAR Chapter 441, Div. 860
Loan originators OAR Chapter 441, Div. 880
Public records, fees, opinion requests, rulemaking OAR Chapter 441, Div. 850
Records and reports requirements OAR Chapter 441, Div. 865
Unethical practices OAR Chapter 441, Div. 870


Pawnbrokers ORS Chapter 726
Pawnbrokers OAR Chapter 441, Div. 740

Payday and title lending

Payday and title lending ORS Chapter 725A
Payday and title lending rules OAR Chapter 441, Div. 735

Prearranged funeral plans and endowment care

Endowment cemetery care ORS Chapter 97 (97.810)
Prearrangement sales and preconstruction sales ORS Chapter 97 (97.923)
Prearranged funeral plans and endowment care OAR Chapter 441, Div. 930


Commodity transactions ORS Chapter 645
Franchise transactions ORS Chapter 650
Securities Regulation ORS Chapter 59
Books and records requirements OAR Chapter 441, Div. 195
Conditions of registration OAR Chapter 441, Div. 85
Denial, withdrawal or conditioning of exemptions OAR Chapter 441, Div. 45
Exempt securities OAR Chapter 441, Div. 25
Exempt transactions OAR Chapter 441, Div. 35
Federal covered securities OAR Chapter 441, Div. 49
Fraud and Deceit with Respect to Securities or Securities Business OAR Chapter 441, Div. 135
General provisions OAR Chapter 441, Div. 11
License cancellation, withdrawal OAR Chapter 441, Div. 225
License denial, suspension, or revocation OAR Chapter 441, Div. 205
Licensing (Broker-dealer, investment advisor, and individuals) OAR Chapter 441, Div. 175
Renewal of securities registration OAR Chapter 441, Div. 75
Securities registration OAR Chapter 441, Div. 65


Regulation of Trust Business ORS Chapter 709
Definitions; annual assessments/fees OAR Chapter 441, Div. 500


Five-year rule reviews

OAR 441-755-0000 to 755-0310 (Check Cashing)
OAR 441-505-1160 (Trust Company Financial Statements)

Proposed administrative rules

None at this time.


Recent permanently adopted rules:

Credit Unions - adopt: 441-710-0305
Until recently, Oregon law prohibited credit unions from paying their boards of directors and supervisory committee members compensation. In the 2015 legislative session, the Assembly enacted Senate Bill 582. Among other things, SB 582 permitted the payment of "reasonable compensation." The Act did not specify what was reasonable, what would be considered (or not considered) compensation, or how to involve credit union membership in any decisions on whether to pay compensation. This rulemaking activity - undertaken under the department's general grant of authority to implement the Credit Union Act - provides definition to the inexact terms in the Act, sets up processes for bylaw change, adopting policies and procedures on compensation, and implements a public process of disclosure to keep the membership informed.
Mortgage lending - amend: 441-865-0060
Under Oregon law, licensed mortgage bankers and mortgage brokers must maintain certain records created as part of the loan application process. The purpose of the existing recordkeeping rule is to preserve records of loan transactions to assist the department in performing full and fair examinations of licensed mortgage bankers and mortgage brokers. In addition to applications, correspondence, credit reports and fee agreements, Oregon rules specified that the lender or broker keep a copy of completed federally-mandated disclosures (e.g., the Truth in Lending Disclosure Statement). But since 2011, federal has mandated that the Consumer Financial Protection Bureau (Bureau) establish a single disclosure scheme for use by lenders or creditors in complying with the disclosure requirements of both the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). The Bureau issued its final rule combining the disclosures on November 20, 2013, effective October 3, 2015. This proposed rulemaking simply updates the recordkeeping requirement to accommodate the changes to federally-mandated disclosures.
Mortgage lending - adopt: 441-855-0114
In the 2013 session, the Legislature enacted House Bill 2856. That Act provided for a limited exemption from the mortgage loan originator statutes for individuals making loans on properties they owned for investment purposes. The intent of HB 2856 was to facilitate lending by individuals not necessarily in the business of making mortgage loans, but that extended credit as part a more diversified, personal investment portfolio. The 2013 Act did not make accommodations for the individual to own the properties through limited liability companies (LLCs). In the 2015 session, the Legislature passed SB 879 to allow members of limited liability companies the ability to make loans on homes owned by the LLC without a mortgage loan originator license. This authorization raised concerns that the LLCs would need a license as a mortgage banker or mortgage broker in order to operate. This rulemaking activity clarifies that certain LLCs are exempt from the business licensing side of the Oregon Mortgage Lender Law (ORS 86A.100-86A.198), as long as certain conditions are met.
Securities - adopt: 441-025-0120, 441-025-0121, 441-025-0122, 441-025-0123, 441-025-0124, 441-025-0125, 441-025-0126
In 2014, the Legislature enacted Senate Bill 1520. This act exempts renewable energy cooperative corporations from registering membership shares or capital stock as securities. The Legislature conditioned this exemption on any rules adopted by the Director of the Department of Consumer and Business Services. This proposed rulemaking places certain substantive restrictions on a renewable energy cooperative corporations relying on this exemption, such as restrictions on the amount of raised money from non-accredited investors. The rulemaking activity also requires two disclosures be given to prospective members: a general disclosure that discusses the workings of the renewable energy cooperative corporation and risks associated with developing renewable energy generations facilities, and a specific disclosure discussing the risks endemic to a specific project.
Securities - adopt: 441-035-0070, 441-035-0080, 441-035-0090, 441-035-0100, 441-035-0110, 441-035-0120, 441-035-0130, 441-035-0140, 441-035-0150, 441-035-0160, 441-035-0170, 441-035-0180, 441-035-0190, 441-035-0200, 441-035-0210, 441-035-0220, 441-035-0230
Title III of the Jumpstart Our Business Startups Act (JOBS Act), enacted in 2012, created a federal exemption for equity crowdfunding. Federal rules under the JOBS exemption have not yet been finalized. Under the federal intrastate exemption, Oregon may enact its own exemption from securities registration for purely domestic offerings unrelated to federal law. ORS 59.035(15) provides that the Director of the Department of Consumer and Business Services may create transactional exemptions for securities through rule. This rulemaking establishes an exemption for small amounts raised by Oregon small businesses through a "community public offering" or what is generally referred to as "crowdfunding." The rules place certain substantive restrictions on Oregon businesses relying on the exemption, such as individual investor and total offering caps. The rulemaking activity also requires disclosures be given to prospective investors and places restrictions on general advertising of the securities to the public.
Securities - amend: 441-175-0002, 441-175-0010, 441-175-0015, 441-175-0020, 441-175-0040, 441-175-0041, 441-175-0046, 441-175-0050, 441-175-0055, 441-175-0060, 441-175-0070, 441-175-0085, 441-175-0100, 441-175-0110, 441-175-0120, 441-175-0130, 441-175-0140, 441-175-0150, 441-175-0160, 441-175-0165, 441-175-0171, 441-175-0175, 441-175-0030
This proposed rulemaking is meant to make technical fixes to the securities licensing rules. The proposed rulemaking does not make any substantive changes to the licensing rules. The proposed rules fix outdated references, update language, and generally clarify requirements. The proposed rules are consistent with the intent of Oregon Revised Statute Chapter 59 to ensure licensing of individuals engaged in brokering or selling securities to the public.


Temporary administrative rules:

Banking - amend: 441-500-0020

The Department of Consumer and Business Services (DCBS) is revising its rules to ensure that it has sufficient revenue to adequately carry out its supervisory mandates under the Oregon Bank Act, which requires DCBS to determine whether Oregon state-chartered banking institutions are operating in a safe and sound manner. The temporary rule increases assessment rates by five percent and also extends the date fees are due by 15 days to provide banks and trust companies additional time to pay the revised assessment.



Statutes: This links to the general Oregon Revised Statues Web site. It provides search and index functions as well as an overview to the Oregon Revised Statutes.

Rules: This is a general link to the Div. of Finance and Corporate Securities Rules as posted on the Secretary of State's Oregon State Archives Web site. Search and index functions available.