Chapter 645 — Chapter 645

ORS 645.005 Definitions. As used in this chapter

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ORS 645.010 Commodity contract or option transactions prohibited; exception. Except as otherwise provided in ORS 645.015 or 645.020

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ORS 645.015 Persons exempt from prohibition; effect of federal law. (1) The prohibitions in ORS 645.010 shall not apply to any transaction by

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ORS 645.020 Transactions exempt from prohibition. The prohibitions in ORS 645.010 shall not apply to the following

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ORS 645.025 Applicability of ORS 645.010, 645.035 and 645.040. (1) ORS 645.010, 645.035 and 645.040 apply to persons who sell or offer to sell when

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ORS 645.030 When transactions are considered to occur in this state. (1) For the purpose of ORS 645.025, an offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer

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ORS 645.035 Commodity merchant required to comply with federal law. (1) No person shall engage in a trade or business or otherwise act as a commodity merchant unless such person

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ORS 645.040 False, fraudulent or deceptive trading practices prohibited; business liable for acts or omissions of agents or employees; effect of federal law. (1) It is unlawful for any person, directly or indirectly, in connection with a commodity contract or commodity option

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ORS 645.200 General authority to administer chapter. The director

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ORS 645.205 Rules. (1) In accordance with ORS chapter 183, the director may adopt such rules as are necessary to carry out the provisions of this chapter

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ORS 645.210 Investigatory power; compliance with subpoenas. (1) For the purpose of an investigation or proceeding under this chapter, the director 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 which the director deems relevant or material to the inquiry. Each witness who appears before the director under a subpoena shall receive the fees and mileage provided for witnesses in ORS 44.415 (2)

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ORS 645.215 Notice of orders; hearing. (1) Except as provided in ORS 183.745, upon the entry of an order under this chapter, the director shall promptly give to all interested persons notice of the order and notice that a hearing will be held on the order if a written demand for a hearing is filed with the director within 20 days after the date of service of the order

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ORS 645.220 Appeal of order; modification of order. (1) A person aggrieved by an order of the director which has been the subject of a timely application for hearing before the director shall be entitled to judicial review of the order under ORS chapter 183

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ORS 645.225 Action to compel compliance with rule or order; attorney fees; claim; disposition of recovery. (1) Whenever it appears to the director that a person has engaged in an act or practice constituting a violation of any provision of this chapter or any rule or order of the director, the director may bring an action in the name and on behalf of the State of Oregon in any circuit court of this state to enjoin the acts or practices and to enforce compliance with this chapter or such rule or order. Upon a proper showing, a permanent or temporary injunction, restraining order or writ of mandamus shall be granted. If the court finds that the defendant has violated any provision of this chapter or any such rule or order, the court may appoint a receiver, who may be the director, for the defendant or the defendant’s assets. The court may not require the director to post a bond. The court may award reasonable attorney fees to the director if the director prevails in an action under this section. The court may award reasonable attorney fees to a defendant who prevails in an action under this section if the court determines that the director had no objectively reasonable basis for asserting the claim or no reasonable basis for appealing an adverse decision of the trial court

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ORS 645.230 Allegations of complaint; burden of proof. It is not necessary to negate any of the exemptions or classifications provided in this chapter in a complaint, action, information, indictment or other writ or proceeding laid or brought under this chapter; and the burden of proof of an exemption or classification shall be upon the party claiming the benefit of such exemption or classification. [1987 c.148 §16]

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ORS 645.300 Good faith actions not subject to liability. No provision of this chapter imposing civil or criminal liability shall apply to an act done or omitted in good faith in conformity with a rule or order of the director, notwithstanding that the rule or order may later be amended or rescinded or be determined by judicial or other authority to be invalid for any reason. [1987 c.148 §17]

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ORS 645.305 Jurisdiction of courts. The courts of this state shall have jurisdiction over any person, including a nonresident of this state, who engages in any act or practice constituting a violation of any provision of this chapter or any rule or order of the director. [1987 c.148 §18]

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ORS 645.310 Construction of chapter; purpose. This chapter may be construed and implemented to effectuate its general purpose to protect investors and speculators, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts and to maximize coordination with federal and other states’ law and the administration and enforcement thereof. [1987 c.148 §2]

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ORS 645.315 Short title. This chapter shall be known as the Oregon Commodity Code. [1987 c.148 §1]

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ORS 645.320 Effect of chapter on Oregon Securities Law. Nothing in this chapter shall impair, derogate or otherwise affect the authority or powers of the director under the Oregon Securities Law or the application of any provision thereof to any person or transaction. [1987 c.148 §9]

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ORS 645.950 Civil penalty. (1) In addition to all other penalties and enforcement provisions provided by law, the director or a court may assess a penalty of not more than $5,000 for every violation, which shall be paid to the General Fund of the State Treasury, against any person who violates, or who participates or materially aids another person in a violation, or who procures, aids or abets the violation of this chapter or any rule or order of the director

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ORS 645.990 Criminal penalty. Violation of any provision of this chapter or any rule adopted by the director under this chapter is a Class B felony. [1987 c.148 §21]

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