The Director of the Department of Consumer and Business Services may disapprove an application for a license if any person named in the application submitted pursuant to ORS 725.120:
(1) Is insolvent, either in the sense that the person’s liabilities exceed the person’s assets or that the person cannot meet the person’s obligations as they mature, or is in such financial condition that the person cannot continue in business with safety to the person’s customers;
(2) Has engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession;
(3) Has knowingly or repeatedly violated or failed to comply with any provision of the Oregon Bank Act, the Savings Association Act, the Oregon Credit Union Act, the Oregon Consumer Finance Act or the Pawnbrokers Act, or any administrative rule or order adopted pursuant to any such Act;
(4) Has been convicted of a crime, an essential element of which is fraud;
(5) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the consumer finance business;
(6) Is the subject of an order of the director, subjecting the person to a fine or other civil penalty under the Bank Act, ORS chapter 722 or 723 or this chapter, or removing the person from an office in any entity regulated under the Bank Act, ORS chapter 722 or 723 or this chapter; or
(7) Is the subject of an order entered within the past five years, subjecting the person to a fine or other civil penalty, or removing the person from an office in a state banking institution, a national bank, a state or federal savings association, a state or federal credit union or a consumer finance company, issued by the regulatory authority of another state or of the federal government with authority over such banking institutions, savings associations, credit unions or consumer finance companies. [1977 c.135 §48; 1985 c.762 §116; 1987 c.373 §68; 1987 c.650 §11]
Section: Previous 725.050 725.060 725.110 725.120 725.125 725.130 725.140 725.145 725.150 725.160 725.170 725.180 725.185 725.190 725.200 NextLast modified: August 7, 2008