Chapter 696 — Chapter 696

ORS 696.235 [1975 c.746 §15; 1977 c.649 §36; 1981 c.617 §11; 1989 c.724 §7; 1995 c.335 §2; 2001 c.300 §20; repealed by 2005 c.116 §24]

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ORS 696.237 Managing principal broker supervision and control. (1) A managing principal broker shall exercise reasonable supervision and control over the activities of real estate brokers and principal real estate brokers associated with the managing principal broker. Reasonable supervision and control includes the establishment and enforcement of written policies, procedures and systems to

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ORS 696.240 [Amended by 1957 c.383 §1; 1963 c.580 §49; repealed by 1975 c.746 §17 (696.241 enacted in lieu of 696.240)]

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ORS 696.241 Clients’ trust accounts; commingling of funds; branch trust account; interest earnings on trust account; when broker entitled to earnest money; funds not subject to execution; rules. (1) As used in this section, “trust funds” means money belonging to others that is received or handled by a licensed real estate property manager or principal real estate broker in the course of conducting professional real estate activity and in the real estate licensee’s fiduciary capacity

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ORS 696.243 Substituting copy for original canceled check allowed; electronic fund transfers. (1) Any principal real estate broker, licensed real estate property manager or escrow agent who is required by the Real Estate Commissioner to maintain the canceled checks used to disburse moneys from the real estate licensee’s clients’ trust account may substitute a copy of the original canceled check, if the copy is provided by a bank and is produced by optical imaging or other process that accurately reproduces the original or forms a durable medium for reproducing the original, and the copy is at least 300 dots per inch in quality

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ORS 696.245 Clients’ trust accounts; notice to bank and agency; retention of copy. (1) Each licensed real estate property manager and managing principal broker, at the time a clients’ trust account is opened as required under ORS 696.241, shall provide the bank in which the account is opened with a notice, acknowledged by the real estate licensee and the bank, in substantially the following form

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ORS 696.247 [1989 c.916 §1; 1991 c.716 §1; repealed by 1997 c.801 §37]

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ORS 696.249 [1989 c.916 §2; 1991 c.716 §2; repealed by 1997 c.801 §37]

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ORS 696.250 [Amended by 1953 c.202 §2; 1961 c.675 §1; 1965 c.367 §2; 1969 c.674 §14; 1975 c.746 §19; 1977 c.649 §37; 1981 c.617 §12; repealed by 1989 c.532 §10]

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ORS 696.251 [1989 c.916 §2a; repealed by 1997 c.801 §37]

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ORS 696.253 [1989 c.916 §3; repealed by 1997 c.801 §37]

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ORS 696.254 [1989 c.916 §7; 1991 c.716 §4; 1993 c.744 §176; repealed by 1997 c.801 §37]

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ORS 696.255 Nonresident license equivalent to appointment of commissioner as agent for service of process; service on commissioner; fee. (1) The acceptance by a nonresident of a real estate license shall be considered equivalent to an appointment by the nonresident of the Real Estate Commissioner as the nonresident licensee’s true and lawful attorney, upon whom may be served any lawful summons, process or pleading in any action or suit against the nonresident licensee in any court of this state, arising out of any business done by the nonresident licensee as a real estate licensee in this state. The acceptance shall be considered equivalent to an agreement by the nonresident licensee that any summons, process or pleading so served shall be of the same legal force and validity as if served on the nonresident licensee personally in this state

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ORS 696.258 [1989 c.532 §1; repealed by 2001 c.300 §84]

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ORS 696.260 [Repealed by 1977 c.649 §53 and 1977 c.842 §17]

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ORS 696.262 [1989 c.532 §§2,3; repealed by 1999 c.470 §4]

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ORS 696.265 Recognition of nonresident real estate licensee; rules. Notwithstanding ORS 696.040 to 696.232 and 696.255, the Real Estate Commissioner may prescribe by rule the terms and conditions for license recognition of a nonresident real estate broker or salesperson and for reciprocity agreements with other states and countries, including but not limited to application procedures, license qualifications, license maintenance, limitations on activities and license renewal requirements. [1989 c.532 §4; 1999 c.470 §3; 2001 c.300 §24]

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ORS 696.270 Fees. The Real Estate Commissioner, with the approval of the Oregon Department of Administrative Services, shall prescribe the fees that the Real Estate Agency may charge for activities listed under this section, subject to the following maximum amounts

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ORS 696.275 [1977 c.873 §18; repealed by 1987 c.58 §15]

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ORS 696.280 Records of licensed real estate property managers and managing principal brokers; rules. (1) A licensed real estate property manager or managing principal broker shall maintain within this state, except as provided in subsection (6) of this section, complete and adequate records of all professional real estate activity conducted by or through the licensed real estate property manager or managing principal broker. The Real Estate Agency shall specify by rule the records required to establish complete and adequate records of a licensed real estate property manager’s or managing principal broker’s professional real estate activity. The only documents the agency may require by rule a licensed real estate property manager or managing principal broker to use or generate are documents that are otherwise required by law or are voluntarily generated in the course of conducting professional real estate activity

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ORS 696.290 Sharing compensation with or paying finder’s fee to unlicensed person prohibited; exceptions. (1)(a) Except as provided in this subsection, a real estate licensee may not offer, promise, allow, give, pay or rebate, directly or indirectly, any part or share of the licensee’s compensation arising or accruing from any real estate transaction or pay a finder’s fee to any person who is not a real estate licensee licensed under ORS 696.022, including a nonlicensed individual described in ORS 696.030

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ORS 696.292 Limitation on demand for compensation. An individual listed in ORS 696.030 may not make a demand for the compensation of a real estate licensee under ORS 696.290. [2017 c.234 §7]

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ORS 696.294 Letter opinion; rules. (1) As used in this section, “letter opinion” means

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ORS 696.300 [Amended by 1959 c.585 §1; 1961 c.670 §3; 1969 c.674 §17; 1971 c.743 §409; 1973 c.421 §50; 1974 c.1 §25; repealed by 1975 c.746 §22 (696.301 enacted in lieu of 696.300)]

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ORS 696.301 Grounds for discipline. Subject to ORS 696.396, the Real Estate Commissioner may suspend or revoke the real estate license of any real estate licensee, reprimand any real estate licensee or deny the issuance or renewal of a license to an applicant who has

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ORS 696.310 Intracompany supervision and control. (1) Two or more principal real estate brokers may supervise real estate activities of real estate licensees associated with the same registered business name, only if a managing principal broker and a principal real estate broker

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ORS 696.315 Prohibition against licensee permitting nonlicensed individual to engage in activity with or on behalf of licensee; exception. (1) Except as provided in subsection (2) of this section, a real estate licensee may not knowingly permit a nonlicensed individual to engage in professional real estate activity, with or on behalf of the licensee

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ORS 696.320 Effect of suspension or revocation of principal broker license on associated licensees. The suspension or revocation of a managing principal broker’s license renders inactive every license of the real estate brokers and timeshare sales agents engaged by the managing principal broker pending a transfer of the license. The Real Estate Agency shall transfer a license rendered inactive under this section if the real estate licensee requests a transfer within 30 days after the effective date of the suspension or revocation of the managing principal broker’s license and pays a transfer fee. [Amended by 1969 c.674 §18; 1975 c.746 §24; 1977 c.649 §43; 1981 c.617 §15b; 1989 c.724 §10; 2001 c.300 §32; 2005 c.116 §9; 2025 c.39 §16; 2025 c.389 §23]

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ORS 696.323 Effect of violations by real estate licensee on associated licensees; contested case hearing. (1) A violation of a provision of ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870 or 696.890, or a rule adopted pursuant to those sections, by a real estate licensee is not cause for the suspension or revocation of the license of another real estate licensee who is associated with the real estate licensee who committed the violation unless the Real Estate Commissioner, in the commissioner’s discretion, determines that the associated real estate licensee had knowledge of the violation by the real estate licensee

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ORS 696.325 [1975 c.746 §36; 1977 c.649 §44; repealed by 1981 c.617 §41]

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ORS 696.330 [Amended by 1967 c.206 §1; repealed by 1971 c.734 §21]

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ORS 696.340 [Repealed by 1971 c.734 §21]

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ORS 696.345 [1977 c.649 §4; repealed by 1991 c.5 §46]

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ORS 696.350 [Repealed by 1971 c.734 §21]

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ORS 696.355 [1977 c.649 §6; 1987 c.468 §4; 1991 c.5 §42; repealed by 2001 c.300 §84]

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ORS 696.359 [1981 c.617 §39; repealed by 2001 c.300 §84]

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ORS 696.360 [Amended by 1967 c.206 §2; repealed by 1971 c.734 §21]

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ORS 696.361 [1987 c.611 §18; 1989 c.724 §17; 1991 c.5 §43; 2001 c.300 §33; repealed by 2013 c.145 §17]

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ORS 696.363 Relationship between licensees as independent contractors or employer and employee. Nothing contained in ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870, 696.990 and 696.995 prevents the establishment of an independent contractor relationship between real estate licensees or requires the establishment of an employer-employee relationship. [1981 c.617 §40]

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ORS 696.365 City or county business license tax. (1) A city or county may not impose a business license tax on or collect a business license tax from an individual licensed as a real estate broker or a timeshare sales agent who engages in professional real estate activity only as an agent of a managing principal broker

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ORS 696.368 Future right to list; definition; limits; exceptions. (1)(a) As used in this section, “future right to list contract” means a contract granting a right to list, or to refer to another for listing, residential real estate for sale in the future and includes, but is not limited to, any document recorded in the county where the real estate is located relating to the contract, including the contract itself, a memorandum concerning the contract, or a deed of trust to secure the terms of the contract

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ORS 696.370 Real estate teams; rules. (1) As used in this section, “real estate team” means a subdivision of a registered business that performs professional real estate activities and is comprised of one or more real estate licensees operating under a name other than the registered business name

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ORS 696.375 Real Estate Agency; Real Estate Commissioner; confirmation, salary and security of commissioner. (1) The Real Estate Agency is established

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ORS 696.380 [Repealed by 1963 c.580 §103]

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ORS 696.385 Power of agency; rulemaking procedures. The Real Estate Agency shall have the power to

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ORS 696.390 [Repealed by 1963 c.580 §103]

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ORS 696.392 Power of commissioner to administer oaths, take depositions and issue subpoenas. (1) The Real Estate Commissioner may administer oaths, take depositions and issue subpoenas to compel the attendance of witnesses and the production of books, papers, records, memoranda or other information necessary to the carrying out of the laws the commissioner is charged with administering

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ORS 696.395 Power of commissioner. The Real Estate Commissioner shall have the power to

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ORS 696.396 Investigation of complaints and progressive discipline; rules. (1) The Real Estate Commissioner shall provide by rule for the progressive discipline of real estate licensees and an objective method for investigation of complaints alleging grounds for discipline under ORS 696.301

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ORS 696.397 Cease and desist order. (1) If the Real Estate Agency has reason to believe that a person has engaged, is engaging or is about to engage in a violation of ORS 696.020 (2) or 696.603 (1), the agency may, subject to ORS chapter 183, issue an order directing the person to cease and desist from the violation or threatened violation

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