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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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Banks

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
  441-500-0020(4)
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

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

Securities

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

Trusts

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

Debt management - amend: 441-910-0099 and Appendix A to OAR 441-910-0099
In 2009, the Legislature adopted House Bill 2191 to consolidate debt settlement, debt consolidation, credit counseling and credit repair activities under a single debt management service provider title. The Legislature adopted limits on the amount of fees that a debt management service provider could charge, including for counseling clients. HB 2191 contained a temporary, additional counseling fee that sunset on January 1, 2012. The department repealed OAR 441-910-0092 and amended OAR 441-910-0090 to reflect the provision's sunset. During that rulemaking the department inadvertently neglected to deletes references to OAR 441-910-0092 and amend the accompanying appendix, which provided an example of allowable fees. Because the underlying authority for the fee included in the appendix is no longer allowed by law, and to remove obsolete references, DCBS is proposing to amend the appendix.
Mortgage lending - amend: 441-860-0101 and 441-880-0400; repeal: 441-860-0101 (T) and 441-880-0400 (T)
In 2011, the Legislature enacted House Bill 5014, which reduced allowable fees the department could charge. In response, the department adopted rules to conform to the enrolled bill (Admin. Or. FCS 8-2011). These proposed rules are identical to rules invalidated by legislative counsel for failure to meet statutory deadlines. These rules are necessary to ensure the department's fees remain consistent with the legislative direction provided by HB 5014 and maintain consistency in registration and certification fees with the previous four year period. In order to maintain consistency, it is also necessary to make the rules retroactive to October 3, 2011, the effective date of the previously adopted rules.
Certified providers and registered master trustees - amend: 441-930-0270; repeal: 441-930-0270 (T)
In 2011, the Legislature enacted House Bill 5014, reducing allowable licensing and renewal fees the department could charge endowment care certified providers and master trustees. In response, the department adopted rules to conform to the enrolled bill (Admin. Or. FCS 9 -2011). This proposed rule is identical to a rule invalidated by legislative counsel for failure to meet statutory deadlines. This rule is necessary to ensure the department's fees remain consistent with the legislative direction provided by HB 5014 and maintain consistency in registration and certification fees with the previous four year period. In order to maintain

 

Recent permanently adopted rules:

Pawnbrokers - repeal: 441-740-0015
This rule repeals a provision allowing pawnbrokers to pass through a "reasonable" fee for the preparation and posting of a notice of forfeiture through certified mail. In 2014, House Bill 4011 amended statutory language that a pledgor would bear postal costs and could be assessed a reasonable fee by a pawnbroker for preparing the notice to be delivered by certified mail. HB 4011 removed the requirement for certified mail and shifted the cost of postage from the pledgor to the pawnbroker. In order to comply with the new language of ORS 726.400(5), the division is repealing the rule.
Securities - amend: 441-035-0005
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 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 new Oregon Intrastate 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 how securities are offered to the public.
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.

 

Temporary administrative rules:

Master trustees - amend: 441-930-0270

This rule retroactively reduces fees assessed to certified providers and registered master trustees by the Oregon Department of Consumer
and Business Services.

In 2010, the department adopted certification and registration fees for certified providers and registered master trustees engaged in preconstruction or prearrangement sales contracts. In 2011, the Legislature enacted House Bill 5014, which reduced allowable fees the department could charge. As part of that rulemaking process, the department submitted copies of the final rule to the Secretary of State and to the Office of the Legislative Counsel. Due to circumstances outside of the department's control, the notice to Legislative Counsel arrived 7 days late. On May 6, 2015, the department received notification from the Office of the Legislative Counsel that the adopted rules were not submitted within 10 days after the certified copy of the rule was filed to the Secretary of State, as required under ORS 183.715(1).


Mortgage lending - amend: 441-860-0101

This rule retroactively reduces licensing fees for mortgage bankers, mortgage brokers, and mortgage loan originators.

In 2009, the department adopted fees for mortgage banker, mortgage broker and mortgage loan originator licenses. In 2011, the Legislature enacted House Bill 5014, which reduced allowable fees the department could charge. In response, the department adopted rules to conform to the enrolled bill (Admin. Or. FCS 8-2011). As part of that rulemaking process, the department submitted copies of the final rule to the Secretary of State and to the Office of the Legislative Counsel. Due to circumstances outside of the department's control, the notice to Legislative Counsel arrived 7 days late.

On May 6, 2015, the department received notification from the Office of the Legislative Counsel that the adopted rules were not submitted within 10 days after the certified copy of the rule was filed to the Secretary of State, as required under ORS 183.715(1). These temporary rules are necessary to ensure the department's fees remain consistent with the legislative direction provided by HB 5014 and maintain consistency in licensing fees with the previous four year period. In order to maintain consistency, it is also necessary to make the rules retroactive to October 3, 2011, the effective date of the previously adopted rules.


 

Resources:

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.