(1) The Director of the Department of Consumer and Business Services may assess an association or any officer, director, agent or employee of an association who violates any provision of this chapter, or any rule or final order issued pursuant thereto, a civil penalty of not more than $2,000 for each violation or $10,000 in the aggregate for all violations within any three-month period. In the case of an individual agent or employee, the civil penalty shall be not more than $1,000 for each violation or $5,000 in the aggregate for all violations within any three-month period. Each day a violation continues shall be considered a separate violation.
(2) In addition to the civil penalty provided by subsection (1) of this section, an association or officer, director, agent or employee of an association who violates any provision of this chapter, or any rule or final order issued pursuant thereto, may be assessed a civil penalty in an amount determined by the director but not to exceed the amount by which the person profited as a result of such violation.
(3) Civil penalties under this section shall be imposed as provided in ORS 183.745.
(4) All moneys collected under this section shall be paid to the State Treasurer and credited to the Consumer and Business Services Fund created by ORS 705.145.
(5) If a civil penalty is assessed against a director, officer, agent or employee of a savings association, unless the director provides otherwise, the director, officer, agent or employee shall forfeit the penalty and the penalty shall not be paid either directly or indirectly by the savings association. [Formerly 722.466]
_______________
Section: Previous 722.795 722.805 722.810 722.815 722.820 722.825 722.830 722.835 722.840 722.845 722.850 722.855 722.860 722.990 722.991Last modified: August 7, 2008