Oregon Statutes - Chapter 696 - Real Estate and Escrow Activities

• 696.005   [1963 c.580 §39; repealed by 1965 c.617 §8]
• 696.007   Statement of legislative purpose.
  (1) The Sixty-second Legislative Assembly recognizes that notwithstanding amendments made to ORS chapter 696 by sections 9, 17, 19, 23, 25, 27 to 30, 32...
• 696.010   Definitions.
  As used in ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870, 696.990 and 696.995, unless the context requires otherwise: (1) “Agency” means the...
• 696.015   Legislative finding; short title.
  (1) The Legislative Assembly finds the activity of persons seeking to assist others, for compensation, to deal in real estate in this state to be...
• 696.020   License required for individuals engaged in professional real estate activities; exception; rules.
  (1) The Real Estate Agency may issue a real estate license only to an individual. (2) An individual may not engage in, carry on, advertise...
• 696.022   Licensing system for real estate brokers and property managers; rules.
  (1) The Real Estate Agency shall establish by rule a system for licensing real estate brokers, principal real estate brokers and real estate property managers....
• 696.024   Payments due and owing to Real Estate Agency.
  To qualify for a real estate license under ORS 696.022 or to renew an active or inactive real estate license, the applicant must make full...
• 696.025   [1977 c.649 §8a; 1981 c.617 §3; 1987 c.468 §2; 1987 c.611 §13; 1989 c.724 §2; 1991 c.5 §27; repealed by 2001 c.300 §84]
• 696.026   Conducting business under broker’s name, under registered business name or through business organization; rules.
  (1) A real estate broker or principal real estate broker may conduct professional real estate activity under the broker’s name, a registered business name or...
• 696.028   Licensed personal assistant; rules.
  The Real Estate Commissioner may prescribe by rule the terms and conditions for licensed personal assistant agreements including, but not limited to, the duties and...
• 696.030   Exemptions.
  (1) ORS 696.010 to 696.375, 696.392, 696.395 to 696.430, 696.490, 696.600 to 696.785, 696.990 and 696.995 do not apply to: (a) A nonlicensed individual who...
• 696.040   Single act sufficient to constitute professional real estate activity.
  One act or transaction of professional real estate activity is sufficient to constitute engaging in professional real estate activity, within the meaning of this chapter....
• 696.050   [Amended by 1955 c.322 §9; 1961 c.471 §1; 1963 c.412 §1; 1969 c.515 §1; 1969 c.674 §3; 1971 c.671 §1; 1973 c.416 §3; 1973 c.827 §78; 1974 c.36 §21; 1975 c.746 §3; 1977 c.191 §1; 1977 c.649 §13; 1981 c.617 §5; 1983 c.258 §1; 1989 c.532 §6; 1989 c.724 §3; 1991 c.5 §29; repealed by 2001 c.300 §84]
• 696.060   [Amended by 1975 c.746 §4; 1977 c.649 §14; 1981 c.617 §6; repealed by 2001 c.300 §84]
• 696.070   [Amended by 1963 c.412 §2; repealed by 1977 c.649 §53 and 1977 c.842 §17]
• 696.080   [Amended by 1975 c.746 §5; 1977 c.649 §15; 1981 c.617 §6a; 1987 c.611 §14; repealed by 2001 c.300 §84]
• 696.085   [1991 c.462 §2; repealed by 2001 c.300 §84]
• 696.090   [Amended by 1955 c.322 §10; repealed by 1977 c.649 §16 and 1977 c.842 §17 (694.169 enacted in lieu of 696.090)]
• 696.100   [Amended by 1963 c.412 §3; 1977 c.649 §17; repealed by 2001 c.300 §84]
• 696.110   Exclusive nature of regulation of real estate licensees.
  The provisions of ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870 and 696.995 shall be exclusive and no political subdivision or agency of...
• 696.120   [Amended by 1977 c.649 §18; repealed by 2001 c.300 §84]
• 696.130   Limited license.
  (1) If the license of any real estate broker or principal real estate broker is revoked by the Real Estate Commissioner, the commissioner may not...
• 696.140   [Amended by 1961 c.471 §2; 1963 c.412 §4; 1973 c.416 §5; repealed by 1975 c.746 §10 (696.141 enacted in lieu of 696.140)]
• 696.141   [1975 c.746 §11 (enacted in lieu of 696.140); 1977 c.649 §51; 1979 c.243 §1; repealed by 2001 c.300 §84]
• 696.150   [Amended by 1977 c.649 §20; repealed by 2001 c.300 §84]
• 696.160   [Amended by 1969 c.674 §5; 1975 c.746 §12; 1977 c.649 §21; 1987 c.611 §16; 1989 c.724 §4; 1991 c.5 §31; repealed by 2001 c.300 §84]
• 696.162   [1975 c.746 §8; 1977 c.190 §1; 1977 c.649 §22; 1981 c.617 §8; 1987 c.468 §3; repealed by 1991 c.5 §46]
• 696.165   [1953 c.166 §4; 1969 c.674 §6; 1977 c.649 §23; 1981 c.617 §8a; 1991 c.5 §32; repealed by 2001 c.300 §84]
• 696.167   [1975 c.746 §9; 1977 c.649 §24; repealed by 1981 c.617 §41]
• 696.169   [1977 c.649 §16a (enacted in lieu of 696.090); 1989 c.724 §5; repealed by 2001 c.300 §84]
• 696.170   [Amended by 1955 c.322 §13; repealed by 1969 c.674 §20]
• 696.172   [1969 c.674 §9; repealed by 1975 c.746 §34]
• 696.174   License renewal; continuing education courses; rules.
  (1) To qualify an active license for renewal, the real estate licensee must present evidence of attendance during the preceding two license years at 30...
• 696.176   [1969 c.674 §10; 1975 c.746 §13; 1977 c.649 §26; repealed by 2001 c.300 §84]
• 696.180   [Amended by 1977 c.649 §27; repealed by 2001 c.300 §84]
• 696.190   [Amended by 1977 c.649 §28; repealed by 1981 c.617 §41]
• 696.200   Real estate broker or organization to maintain place of business; branch offices; change of business location.
  (1) Except for real estate brokers associated with a principal real estate broker, every real estate broker and principal real estate broker shall maintain in...
• 696.205   Death or incapacity of sole proprietor real estate licensee; temporary license; rules.
  (1) If a real estate licensee who is a sole practitioner or who is the sole principal real estate broker of a real estate business...
• 696.210   [Amended by 1977 c.649 §30; repealed by 2001 c.300 §84]
• 696.220   [Repealed by 1955 c.322 §15]
• 696.221   [1955 c.322 §4; 1969 c.674 §12; 1977 c.649 §31; 1983 c.258 §2; 1991 c.5 §34; 2001 c.300 §18; repealed by 2005 c.116 §24]
• 696.224   [1955 c.322 §5; 1969 c.674 §13; 1977 c.649 §32; 1983 c.258 §3; 1989 c.724 §12; 1991 c.5 §35; repealed by 2001 c.300 §84]
• 696.226   [1955 c.322 §2; 1977 c.649 §33; 1983 c.258 §4; 1991 c.5 §36; 2001 c.300 §19; repealed by 2005 c.116 §24]
• 696.228   [1969 c.674 §8; 1977 c.649 §34; 1983 c.258 §5; repealed by 2001 c.300 §84]
• 696.230   [Repealed by 1969 c.674 §21]
• 696.232   Return of license by employee of agency; reissuance upon termination of employment.
  (1) An employee or officer of the Real Estate Agency licensed as a real estate licensee under this chapter shall return the employee’s or officer’s...
• 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]
• 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)]
• 696.241   Clients’ Trust Accounts; notice to agency; authority to examine account; branch trust account; interest earnings on trust account; when broker entitled to earnest money; funds not subject to execution; rules.
  (1) Each sole practitioner and each principal real estate broker shall maintain in this state one or more separate bank accounts that shall be designated...
• 696.243   Substituting copy for original canceled check allowed; electronic fund transfers.
  (1) Any real estate broker, principal real estate broker, real estate property manager or escrow agent who is required by the Real Estate Commissioner to...
• 696.245   Clients’ Trust Accounts; notice to bank; retention of copy.
  (1) Each sole practitioner and each principal real estate broker, at the time a Clients’ Trust Account is opened under ORS 696.241, shall provide the...
• 696.247   [1989 c.916 §1; 1991 c.716 §1; repealed by 1997 c.801 §37]
• 696.249   [1989 c.916 §2; 1991 c.716 §2; repealed by 1997 c.801 §37]
• 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]
• 696.251   [1989 c.916 §2a; repealed by 1997 c.801 §37]
• 696.253   [1989 c.916 §3; repealed by 1997 c.801 §37]
• 696.254   [1989 c.916 §7; 1991 c.716 §4; 1993 c.744 §176; repealed by 1997 c.801 §37]
• 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...
• 696.258   [1989 c.532 §1; repealed by 2001 c.300 §84]
• 696.260   [Repealed by 1977 c.649 §53 and 1977 c.842 §17]
• 696.262   [1989 c.532 §§2,3; repealed by 1999 c.470 §4]
• 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...
• 696.270   Fees.
  The maximum fees described in this section may be charged by and paid to the Real Estate Agency. Actual fees shall be prescribed by the...
• 696.275   [1977 c.873 §18; repealed by 1987 c.58 §15]
• 696.280   Records of real estate brokers; rules.
  (1) A real estate broker or principal real estate broker shall maintain within this state, except as provided in subsection (4) of this section, complete...
• 696.290   Sharing compensation with or paying finder’s fee to unlicensed person prohibited; exceptions.
  (1) A real estate licensee shall not offer, promise, allow, give, pay or rebate, directly or indirectly, any part or share of the licensee’s compensation...
• 696.294   Opinion letter; rules.
  (1) As used in this section, “letter opinion” means a document that expresses a real estate licensee’s conclusion regarding a recommended listing, selling or purchase...
• 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)]
• 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 licensee or...
• 696.310   Intracompany supervision and control; effect of revocation on licensed associates.
  (1) If two or more principal real estate brokers are in business together, the brokers may have equal supervisory control over and shall be equally...
• 696.315   Prohibition against licensee permitting nonlicensed individual to engage in activity with or on behalf of licensee.
  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....
• 696.320   Effect of suspension or revocation of principal broker license on associated licensees.
  The suspension or revocation of a principal real estate broker’s license renders inactive every license of the real estate brokers engaged by the principal real...
• 696.325   [1975 c.746 §36; 1977 c.649 §44; repealed by 1981 c.617 §41]
• 696.330   [Amended by 1967 c.206 §1; repealed by 1971 c.734 §21]
• 696.340   [Repealed by 1971 c.734 §21]
• 696.345   [1977 c.649 §4; repealed by 1991 c.5 §46]
• 696.350   [Repealed by 1971 c.734 §21]
• 696.355   [1977 c.649 §6; 1987 c.468 §4; 1991 c.5 §42; repealed by 2001 c.300 §84]
• 696.359   [1981 c.617 §39; repealed by 2001 c.300 §84]
• 696.360   [Amended by 1967 c.206 §2; repealed by 1971 c.734 §21]
• 696.361   Regulation of real estate property manager.
  A real estate property manager is regulated and bound as a real estate broker and as a principal real estate broker. [1987 c.611 §18; 1989...
• 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...
• 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...
• 696.375   Real Estate Agency; Real Estate Commissioner; confirmation, salary and security of commissioner.
  (1) The Real Estate Agency is established. (2) The Real Estate Agency shall be under the supervision and control of an administrator who shall be...
• 696.380   [Repealed by 1963 c.580 §103]
• 696.385   Power of agency; rulemaking procedures.
  The Real Estate Agency shall have the power to: (1) Adopt a seal by which it shall authenticate its proceedings. (2) From time to time,...
• 696.390   [Repealed by 1963 c.580 §103]
• 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,...
• 696.395   Power of commissioner.
  The Real Estate Commissioner shall have the power to: (1) For the purpose of administration, organize and reorganize, as necessary, the Real Estate Agency in...
• 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...
• 696.398   Delegation by commissioner to employees; requirements.
  (1) The Real Estate Commissioner may delegate to any of the officers and employees of the Real Estate Agency to exercise or discharge in the...
• 696.400   [Repealed by 1963 c.580 §103]
• 696.405   Real Estate Board; appointment; term; qualifications; compensation; expenses.
  (1) The Real Estate Board is established within the Real Estate Agency. The board shall consist of nine members appointed by the Governor to hold...
• 696.410   [Repealed by 1963 c.580 §103]
• 696.415   Officers; meetings; quorum.
  (1) The Real Estate Board shall annually select one of its members as chairperson, who shall preside at the meetings of the board. In the...
• 696.420   [Repealed by 1963 c.580 §103]
• 696.425   Powers and duties of board; expenses.
  (1) The Real Estate Board is authorized to inquire into the needs of the real estate licensees of Oregon, the functions of the Real Estate...
• 696.430   Records of commissioner as evidence; records open to inspection; rules.
  Copies of all records and papers in the office of the Real Estate Commissioner duly certified and authenticated by the seal of the commissioner shall...
• 696.435   [1963 c.546 §5; 1965 c.617 §6; repealed by 2001 c.300 §84]
• 696.440   [Repealed by 1963 c.580 §103]
• 696.445   Advancement of education and research; Oregon Real Estate News Journal; content as to disciplinary actions.
  (1) Pursuant to ORS 696.385 (2), the Real Estate Agency shall provide for the advancement of education and research in connection with the educational requirements...
• 696.450   [Repealed by 1963 c.580 §103]
• 696.460   [Repealed by 1963 c.580 §103]
• 696.470   [Repealed by 1963 c.580 §103]
• 696.480   [Amended by 1977 c.649 §49; repealed by 1981 c.617 §41]
• 696.490   Real Estate Account; disposition of receipts.
  (1) There is established in the General Fund of the State Treasury the Real Estate Account. All moneys, fees and charges collected or received by...
• 696.495   Revolving fund; amount; use; procedure for repayment.
  (1) Upon written request by the Real Estate Agency, the Oregon Department of Administrative Services shall draw a warrant on the Real Estate Account, established...
• 696.500   [Amended by 1959 c.27 §1; repealed by 1961 c.309 §5]
• 696.505   Definitions for ORS 696.505 to 696.590.
  As used in ORS 696.505 to 696.590, unless the context requires otherwise: (1) “Collection escrow” means an escrow in which the escrow agent: (a) Receives:...
• 696.508   Legislative finding; short title.
  (1) The Legislative Assembly finds the activity of escrow agents in handling large sums of money and important rights of clients to be of public...
• 696.510   [Repealed by 1961 c.309 §6]
• 696.511   License required; application and information required; issuance.
  (1) A person may not directly or indirectly engage in or carry on, or purport to engage in or carry on, the business of an...
• 696.515   [1963 c.440 §3; repealed by 1981 c.617 §41]
• 696.520   Application of ORS 696.505 to 696.590.
  The provisions of ORS 696.505 to 696.590 do not apply to and the term “escrow agent” does not include: (1) Any person doing business under...
• 696.523   Application of ORS 696.505 to 696.590 to title insurance activities.
  The provisions of ORS 696.505 to 696.590 apply to those escrow activities of a title insurance company, or an insurance producer of a title insurance...
• 696.525   Bond for escrow agents.
  (1) At the time of filing an application for an escrow agent license, the applicant shall deposit with the Real Estate Commissioner a corporate surety...
• 696.527   Deposits in lieu of bond; payment of claims; waiver.
  (1) Any escrow agent may satisfy the requirements of ORS 696.525 by depositing with the State Treasurer, in an amount equal to the surety bond...
• 696.530   Expiration and renewal of license; fees; rules.
  (1) The license of an escrow agent expires on June 30 next after the date of issuance or on such date as may be specified...
• 696.532   Limited license.
  (1) The Real Estate Commissioner may issue or renew a limited escrow agent license if: (a) An applicant elects not to apply for an escrow...
• 696.534   Records of escrow agents; rules.
  (1) An escrow agent shall keep and maintain at all times in the licensed office of the agent, complete and suitable records of escrow transactions...
• 696.535   Grounds for refusing, suspending or revoking license.
  (1) The Real Estate Commissioner may refuse to issue or may suspend or revoke any license by entering an order to that effect with the...
• 696.540   [1963 c.440 §8; repealed by 1977 c.351 §11 and 1977 c.842 §17 (696.541 enacted in lieu of 696.540)]
• 696.541   Authority of commissioner over escrow agents; rules.
  (1) The Real Estate Commissioner shall have general supervision and control over all escrow agents doing business in this state. Subject to ORS chapter 183,...
• 696.545   Investigation; injunction; jurisdiction.
  (1) The Real Estate Commissioner may investigate either upon complaint or otherwise whenever it appears that an escrow agent has violated ORS 696.505 to 696.590...
• 696.550   [1963 c.440 §10(1), (2); repealed by 1971 c.734 §21]
• 696.555   Commissioner to take possession of property and assets of escrow agent when assets or capital impaired; appointment of receiver.
  (1) When the Real Estate Commissioner ascertains by examination or otherwise that the assets or capital of any agent are impaired, as described in ORS...
• 696.560   [1963 c.440 §11; 1975 c.746 §31; 1981 c.617 §30; 1985 c.589 §5; renumbered 696.578]
• 696.565   [1963 c.440 §12; renumbered 696.579]
• 696.570   Hearings procedure under ORS 696.505 to 696.590; subpoena.
  (1) All hearings before the Real Estate Commissioner or the commissioner’s authorized representative conducted under the authority of ORS 696.505 to 696.590 shall be conducted...
• 696.575   Civil or criminal actions not limited by ORS 696.505 to 696.590.
  Nothing in ORS 696.505 to 696.590 shall limit any statutory or common law right of any person to bring any action in any court for...
• 696.577   Commissioner’s order against unlicensed agent.
  Whenever the Real Estate Commissioner finds that any person is offering to engage in or engaging in the business of an escrow agent without a...
• 696.578   Deposit and designation of money held in escrow; treatment of earnings on escrow account; notice.
  (1) All money deposited in escrow to be delivered upon the close of the escrow or upon any other contingency shall be deposited and maintained...
• 696.579   Funds exempt from execution or attachment; designation of funds.
  (1) Escrow or trust funds are not subject to execution or attachment on any claim against the escrow agent. (2) No person shall knowingly keep...
• 696.580   [1963 c.440 §15; repealed by 1973 c.794 §34]
• 696.581   Written escrow instructions or agreement required; statement; instructions containing blank prohibited; one-sided escrow; exception.
  (1) An escrow agent may not accept funds, property or documents in any escrow transaction without dated, written escrow instructions from the principals to the...
• 696.582   Escrow agent to hold certain compensation; conditions; notice of demand; disbursement of money; copy of notice to principal.
  (1) An escrow agent shall hold, as provided in subsection (3) of this section, the amount of money or other property agreed to as compensation...
• 696.585   Civil penalties.
  (1) Any person who violates any provision of ORS 696.505 to 696.545, or any lawful rule or final order of the Real Estate Commissioner or...
• 696.590   Penalty amounts.
  (1) Any person who violates ORS 696.511 (1) may be required by the Real Estate Commissioner to forfeit and pay to the General Fund of...
• 696.600   Definitions for ORS 696.392, 696.600 to 696.785 and 696.995.
  As used in ORS 696.392, 696.600 to 696.785 and 696.995: (1) “Employee” includes an individual who has an independent contractual relationship with a real estate...
• 696.603   License required for persons engaged in real estate marketing activities.
  (1) A person may not engage in real estate marketing activity unless that person is: (a) Licensed under ORS 696.606; (b) Licensed under ORS 696.022;...
• 696.606   Real estate marketing organization license; requirements; deposit required; claims against deposit; rules.
  (1) In accordance with any applicable provisions of ORS chapter 183, the Real Estate Commissioner shall establish by rule a system to license real estate...
• 696.609   Exemptions from ORS 696.392, 696.600 to 696.785 and 696.995.
  ORS 696.392, 696.600 to 696.785 and 696.995 do not apply to an individual licensed under ORS 696.022 or to those persons exempt under ORS 696.030...
• 696.610   [Repealed by 1981 c.617 §41]
• 696.612   Grounds for disciplinary action.
  The Real Estate Commissioner may suspend or revoke the license of any real estate marketing organization or reprimand any licensee, or may deny the issuance...
• 696.615   Publication of sanctions imposed for violations.
  The Real Estate Commissioner shall publish information in local newspapers pertaining to sanctions imposed for violations of ORS 696.603, 696.606 or 696.612 in a manner...
• 696.618   Denial of right to court action for unlicensed real estate marketing organization.
  No person carrying on, conducting or transacting any real estate marketing activity may maintain any suit or action in any of the courts of this...
• 696.620   [Amended by 1975 c.491 §7; repealed by 1981 c.617 §41]
• 696.621   Real Estate Marketing Account.
  The Real Estate Marketing Account is established as an account in the General Fund of the State Treasury. All moneys received by the Real Estate...
• 696.624   Consent by nonresident real estate marketing organization to service of summons or process required.
  (1) Every nonresident real estate marketing organization, at the time of licensing, shall file with the Real Estate Commissioner an irrevocable consent that if, in...
• 696.627   On-site inspection allowed; deposit.
  (1) The Real Estate Commissioner may make an on-site inspection of any real estate marketing organization. (2) When an on-site inspection under subsection (1) of...
• 696.630   [Repealed by 1981 c.617 §41]
• 696.640   [Repealed by 1981 c.617 §41]
• 696.710   Necessity of alleging license in action to collect compensation.
  (1) An individual engaged in the business of, or acting in the capacity of, a real estate broker or principal real estate broker within this...
• 696.720   Remedies are concurrent.
  The remedies provided for in ORS 696.010 to 696.495, 696.600 to 696.785, 696.800 to 696.870 and 696.995 are in addition to and not exclusive of...
• 696.730   Jurisdiction of courts for violations; revoking license upon conviction; copy of order to commissioner.
  Any court of competent jurisdiction, including a justice court, has full power to hear any violation of ORS 696.010 to 696.495, 696.600 to 696.785, 696.800...
• 696.740   [1971 c.734 §161; repealed by 1981 c.617 §41]
• 696.745   [1975 c.746 §33; 1977 c.649 §56; repealed by 1981 c.617 §41]
• 696.775   Authority of commissioner when license lapsed, expired, revoked, suspended or surrendered.
  The lapsing, expiration, revocation or suspension of a real estate license, whether by operation of law, order of the Real Estate Commissioner or decision of...
• 696.785   Commissioner duties when illegal commingling of funds found; receivership procedure.
  (1) When the Real Estate Commissioner ascertains by audit, investigation or otherwise that a real estate licensee has commingled trust funds with personal funds or...
• 696.790   Authority of commissioner to require fingerprints.
  For the purpose of requesting a state or nationwide criminal records check under ORS 181.534, the Real Estate Commissioner may require the fingerprints of an...
• 696.793   [1989 c.724 §15; repealed by 2005 c.730 §77]
• 696.795   Authority of commissioner to conduct investigations and proceedings.
  (1) For the purpose of an investigation or proceeding under this chapter, the commissioner may administer oaths and affirmations, subpoena witnesses, compel their attendance, take...
• 696.800   Definitions.
  As used in ORS 696.392, 696.600 to 696.785, 696.800 to 696.870 and 696.995, unless the context requires otherwise: (1) “Agent” means: (a) A real estate...
• 696.805   Real estate licensee as seller’s agent; obligations.
  (1) A real estate licensee who acts under a listing agreement with the seller acts as the seller’s agent only. (2) A seller’s agent owes...
• 696.810   Real estate licensee as buyer’s agent; obligations.
  (1) A real estate licensee other than the seller’s agent may agree with the buyer to act as the buyer’s agent only. The buyer’s agent...
• 696.815   Representation of both buyer and seller; obligations.
  (1) A real estate licensee may represent both the seller and the buyer in a real estate transaction under a disclosed limited agency agreement, with...
• 696.820   Agency disclosure pamphlet; rules.
  (1) The Real Estate Commissioner shall prescribe by rule the format and content of an initial agency disclosure pamphlet. The rules must provide that the...
• 696.822   Liability of principal for act, error or omission of agent or subagent.
  (1) A principal is not liable for an act, error or omission by an agent or subagent of the principal arising out of an agency...
• 696.825   [1993 c.570 §7; repealed by 2001 c.300 §84]
• 696.830   [1993 c.570 §8; repealed by 2001 c.300 §84]
• 696.835   Buyer and seller responsibilities.
  None of the affirmative obligations of a real estate licensee or agent in a real estate transaction under ORS 696.805, 696.810 or 696.815 relieves a...
• 696.840   Compensation and agency relationships.
  The payment of compensation or the obligation to pay compensation to a real estate licensee by the seller or the buyer is not necessarily determinative...
• 696.845   Acknowledgment of existing agency relationships form; rules.
  When signing an offer to purchase, each buyer shall acknowledge the existing agency relationships, if any. When a seller accepts or rejects an offer to...
• 696.855   Common law application to statutory obligations and remedies.
  (1) ORS 696.301, 696.392, 696.600 to 696.785 and 696.995 do not directly, indirectly or by implication limit or alter any preexisting common law or statutory...
• 696.870   Duties of real estate licensee under ORS 105.462 to 105.490, 696.301 and 696.870.
  (1)(a) A real estate licensee representing a seller of real property has a duty to inform each represented seller of the seller’s duties created by...
• 696.880   Licensee not required to disclose proximity of registered sex offender.
  Nothing in ORS 181.586, 181.587, 181.588, 181.589, 696.301, 696.805, 696.810, 696.815 or 696.855 creates an obligation on the part of a person licensed under this...
• 696.990   Penalties.
  (1) Violation of any provision of ORS 696.010 to 696.130, 696.200, 696.205, 696.241 to 696.375, 696.392, 696.395 to 696.430, 696.490, 696.600 to 696.785 and 696.995...
• 696.995   Civil penalties for violation of ORS 696.603, 696.606 or 696.612.
  (1) Any person who violates ORS 696.603, 696.606 or 696.612 may be required by the Real Estate Commissioner to forfeit and pay to the General...

Last modified: August 7, 2008