Oregon Administrative Code

441-325-0010 Definitions All words and phrases in OAR chapter 441, division 325, have meaning given them in ORS 650.005. Statutory/Other Authority: ORS 650 Statutes/Other Implemented: ORS 650.005 History: FCS 5-2008, f. & cert. ef. 6-26-08 FCS 6-1989, f. & cert. ef. 5-17-89 FCS 1…

441-325-0020 Pre-Sale Disclosure Requirements (1) No franchisor shall sell or offer to sell a franchise in this state unless the franchisor delivers to the prospective franchisee a disclosure document required by 16 CFR pt. 436. (2) The franchisor must deliver the disclosure docu…

441-325-0030 Exemptions to Disclosure Requirements The sale of or offer to sell a franchise is exempt from OAR 441-325-0020 if any of the following circumstances apply: (1) The sale or offer to sell is exempt or excluded from delivery of a disclosure document under 16 CFR § 436.8…

441-325-0040 Offer or Sale of Franchise The offer or sale of a franchise by a franchisee for his own account or the offer or sale of the entire area franchise owned by a subfranchisor for his own account, is exempted from the provisions of ORS chapter 650 if sale is not effected …

441-325-0050 Relationship to Securities Law A franchisor must meet the requirements of ORS 59.005 to 59.451, 59.991 and 59.995 if any part of a franchise offering may be considered a security. Statutory/Other Authority: ORS 650.050 Statutes/Other Implemented: ORS 59.015 History: …

441-446-0100 Purpose and Scope OAR 441-446-0100 through 441-446-0300 clarify the definitions, rules and requirements pertaining to businesses that engage in the business of selling manufactured structures under ORS chapter 446. Statutory/Other Authority: ORS 446.666 Statutes/Othe…

441-446-0110 Definitions As used in OAR 441-446-0100 through 441-446-0300 and ORS chapter 446, unless the context clearly indicates otherwise, the following definitions apply: (1) "Corrected license" means: (a) A limited manufactured structure dealer license that has been amended…

441-446-0200 Supplemental or Corrected Licenses A supplemental or corrected license shall have the same expiration as the limited or dealer license. Statutory/Other Authority: ORS 446.666 Statutes/Other Implemented: ORS 446.666 & 446.716 History: FCS 6-2013, f. & cert. ef. 11-15-…

441-446-0203 Exemptions from Mortgage Loan Originator Licensing In addition to the provisions contained in ORS 86A.203(2) through (4) relating to the exemption of a dealer from licensing as a mortgage loan originator, the following conditions apply: (1)(a) Only one limited manufa…

441-446-0210 Dealer Requirements (1) A dealer shall file all required applications for ownership documents and trip permits, or ensure required applications are completed and filed, as required by OAR chapter 918, divisions 550 and 600. (2) A manufactured structure dealer selling…

441-446-0230 Recordkeeping Requirements for Residential Mortgage Loans In addition to the recordkeeping requirements contained in 441-446-0210, a dealer that takes an application for a residential mortgage loan must prepare and maintain all documentation related to the loan, incl…

441-446-0300 Violations In addition to any grounds for sanction specified in ORS chapter 446, the director may deny, suspend, revoke or place conditions on a dealer’s license if a dealer: (1) Fails to maintain records or any other requirements under OAR 441-446-0210; (2) Engages …

441-500-0020 Fees for Banks, Trust Companies, Savings Banks, Extranational Institutions, Savings Associations and Call for Reports (1) Definitions. (a) As used in this rule, "assets" means; (A) The average assets of an Oregon based insured institution; or (B) The average Oregon a…

441-500-0030 Charges for Special Examinations and Special Attention for Banks, Trust Companies, Savings Banks, Extranational Institutions and Savings Associations (1) Applicability. This rule applies to a banking institution, non-Oregon institution, savings institution and a hold…

441-505-1110 References to Federal Statutes and Regulations Pursuant to ORS 706.015, references in the Bank Act to Federal statutes and regulations shall be construed to refer to statutes or regulations in effect on June 30, 2007, unless specifically provided otherwise in the Ban…

441-505-1120 Report of Oregon Deposits (1) Reporting Unit. This rule applies to: (a) All Oregon commercial banks and Oregon savings banks; (b) All non-Oregon institutions and federal banks that hold deposits of the State of Oregon or any political subdivision thereof where the in…

441-505-1130 Call Reports (1) Reporting Unit. This rule applies to banks, other than federal banks; and extranational institutions engaged in banking business in this state. (2) Reports Called For. The Director calls for a quarterly report of condition, earnings and dividends. (3…

441-505-1150 Report of Trust Assets (1) Reporting Unit. All companies doing trust business in Oregon and all Oregon banks having trust company powers shall file a Report of Fiduciary Activity (“Report”) with the Director. (2) The Report shall be a copy of Schedule RC-T — Fiduciar…

441-505-1160 Trust Company Financial Statements (1) All companies doing trust business in Oregon must file with the Director annual financial statements prepared in accordance with generally accepted accounting principles. (2) The financial statements must be reviewed by an indep…

441-505-2000 Regular Meetings of Banking Institution Board of Directors (1) For purposes of this rule: (a) “Regular meeting” means a meeting established by the banking institution’s bylaws or by board resolution that fix the time, date and location of the meeting on a re-occurrin…

441-505-2005 Conducting Stockholder Meetings Remotely Oregon chartered commercial banks, Oregon trust companies, and Oregon stock savings banks may conduct stockholder meetings remotely by means of telephone conference, video conference, or similar means of communications that al…

441-505-2010 Dividend Excess of Retained Earnings An institution may not pay dividends in an amount that exceeds the institution’s retained earnings except with the prior written approval of the director of the Department of Consumer and Business Services. Statutory/Other Authori…

441-505-2020 Exchange of Real Property for Stock (1) An Oregon commercial bank, trust company or savings bank that applies for permission to accept real property in exchange for stock at the initial formation of capital shall file the following documents with the Director before …

441-505-3010 Insurance Activity Report (1) Applicability. (a) Except as provided in subsection (b) of this section, this rule applies to: (A) All Oregon banks, Oregon savings banks and Oregon trust companies that acquire subsidiaries or invest in companies that engage in or inten…

441-505-3020 Property Acquired for or Used for Place of Business; Disposition if Not Used (1) An institution shall sell or dispose of real property referred to in ORS 708A.175: (a) Purchased for future location or expansion of its business, if the real estate is not so used withi…

441-505-3030 Appraisal Required (1) The market value of real estate acquired by an institution pursuant to ORS 708A.175 shall be established by a real property appraisal that is current if the recorded value is equal to or greater than $400,000. A bank may defer obtaining an appr…

441-505-3040 Real Estate Sales Contracts Property sold under a contract of sale shall be carried as Real Estate Sold Under Contract until the contract is paid out or sold. Statutory/Other Authority: ORS 706.790 Statutes/Other Implemented: ORS 708A.195 History: FCS 1-1998, f. & ce…

441-505-3046 Contents of Foreclosure Notices The sender of a notice form required by 2008 Or Laws, ch. 19, § 20 and as amended by 2009 Or Laws ch. 864, § 1 (Enrolled Senate Bill 628) must enter in the form and format adopted by this rule: (1) The statewide telephone contact numbe…

441-505-3050 Guidelines for Exceeding Restrictions on Ownership of Real and Personal Property Used in Business (1) A request for authorization to exceed the limitations of ORS 708A.560 shall contain: (a) Details of the proposal; (b) The reasons relied on for exceeding the limitat…

441-505-3070 Combining Loans to Separate Borrowers (1) For purposes of ORS 708A.295, the phrase “obligations in the name of one person for the benefit of another person” shall include the following situations: (a) When proceeds of an obligation of a borrower are to be used for th…

441-505-3075 Existence of a Direct Benefit (1) The amount of money received from an obligation incurred by a borrower will be considered to be for the direct benefit of another person and will be attributed to the other person when the amount of money received is transferred to a…

441-505-3080 Existence of a Common Enterprise A common enterprise will be deemed to exist and obligations of separate borrowers will be aggregated when any of the following occur: (1) When the expected source of repayment for each obligation is the same for each borrower and neit…

441-505-3085 Lending Limit Rules for Loans to Partnerships (1) Obligations to a partnership, joint venture, or association are obligations to each member of the partnership, joint venture, or association. This rule does not apply to limited partners in limited partnerships or to …

441-505-3090 Interest Rate Swap Transactions (1) An Oregon bank may engage in interest rate swap transactions and pledge bank assets to counterparties to secure the transactions. (2) The Oregon bank’s aggregate risk exposure, at any time, to each of its counterparties shall not e…

441-505-4010 Exemption for Banking Institutions (1) An exemption is created under ORS 709.030(4) from the trust company certificate of authority and deposit requirements for: (a) A non-Oregon institution or extranational institution when the entities are involved in any activity …

441-505-4020 Exemption for Out of State Trust Company An exemption from the trust company certificate of authority and deposit requirements is created under ORS 709.030(4) for an out-of-state trust company that: (1) Has no office in this state; (2) Is regulated in its home state …

441-505-4030 Trust Company Exemption; Court Appointed Fiduciaries (1) As authorized by ORS 709.030(4)(g), an exemption from trust company certificate of authority requirements under 709.005(1) is hereby created for any person appointed as a personal representative, trustee or con…

441-505-6010 Deposits Required by Extranational Institutions (1) The deposit required to be posted by extranational institutions under ORS 713.025(2) shall be: (a) Five percent of the total liability of each office in this state to Oregon based depositors, plus all acceptances, b…

441-646-0010 Definitions As used in ORS 646A.600 to 646A.628 and this division 646, unless the context requires otherwise: (1) “Continuing violation” means the same activity extending longer than one day that violates the Oregon Consumer Identity Theft Protection Act. (2) “Harm,”…

441-646-0020 Expenses of Providing Notification (1) A person may calculate the expenses of providing notification by including reasonable and necessary expenses for: (a) Staff time to generate a contact list of affected consumers; (b) Paper to be used to print the notice; (c) Pri…

441-646-0030 Use of Social Security Number (1) Materials or documentation of a transaction or service are requested by a consumer when the consumer initiated the contact with the person that mails the documents to the consumer, such as a loan application started by the consumer b…

441-646-0040 Safeguarding of Personal Information Protecting the security, confidentiality and integrity of personal information extends to: (1) Electronic and paper methods of storing personal information; (2) Electronic, paper and verbal methods of transmitting personal informa…

441-710-0000 Definitions As used in Oregon Administrative Rules chapter 441, divisions 710 and 720: (1) “Abandoned premises” means former credit union premises from the date of relocation to new quarters, and property originally acquired for future expansion for which such use is…

441-710-0020 Membership in General The rules in this section create procedures for establishing and expanding the membership of a credit union. These rules do not invalidate or change the field of membership of any credit union approved prior to March 31, 2000. Statutory/Other Au…

441-710-0035 Community Charter Applications A credit union applying for a community charter must complete an application to include at least the following information: (1) Written authorization for the application signed by the Board of Directors. (2) Bylaws or amendment to bylaw…

441-710-0037 Procedures for Amending Bylaws on Community Charter Field of Membership (1) When a credit union wishes to expand its field of membership, it shall amend its bylaws to describe the geographic boundaries to be added to the field of membership. The proposed amendment to…

441-710-0070 Procedures for Amending Bylaws on Field of Membership (1) When a credit union wishes to expand its field of membership, it shall amend its bylaws to describe the group or groups to be added to the field of membership. The proposed amendment to the bylaws and the appl…

441-710-0071 Application to Serve Former Occupational Groups and Associational Members (1) In accordance with ORS 723.172, all community credit unions that wish to continue credit union services to an occupational or associational group or groups shall file an application to serv…

441-710-0075 Underserved Areas (1) A credit union may apply to the Director to add any underserved, well-defined local community, neighborhood or rural district to its field of membership if: (a) The area is underserved by other depository institutions; and (b) The credit union i…

441-710-0085 Guidelines for a Low-Income Designated Credit Union (1) A credit union may be designated by the director as a low-income credit union if the director determines it is in the public interest that the director designate the credit union as a low-income credit union and…