Oregon Statutes - Chapter 697 - Collection Agencies; Check-Cashing Businesses; Debt Consolidating Agencies - Section 697.528 - Records; retention; examination costs; rules.

(1) A check-cashing business shall make, keep and maintain all records used in providing money, credit or any other thing of value in exchange for payment instruments that the Director of the Department of Consumer and Business Services may reasonably require. The check-cashing business shall keep and maintain the records that the director requires under this section separate from records used for any other business that the check-cashing business conducts. The check-cashing business shall retain the records the director requires under this section for three years following the date of the transaction each record describes, or for so long as the director may prescribe by rule.

(2) The director may examine the records required to be kept and maintained under this section to determine whether the check-cashing business is complying with ORS 697.500 to 697.555 and with rules the director has adopted under ORS 697.500 to 697.555. The check-cashing business shall pay the Department of Consumer and Business Services for the actual cost of the examination. The director by rule shall establish rates and charges associated with examinations made under this section. [2007 c.358 §11]

Section:  Previous  697.510  697.512  697.514  697.520  697.522  697.524  697.526  697.528  697.530  697.540  697.542  697.550  697.555  697.602  697.610  Next

Last modified: August 7, 2008