(1) A person shall not operate as a debt consolidating agency or in any way purport to be a debt consolidating agency unless the person is first registered with the Director of the Department of Consumer and Business Services under ORS 697.632. For purposes of this section, a person operates as a debt consolidating agency and is subject to ORS 697.602 to 697.842 if the person in the regular course of the personís business directly or indirectly solicits, offers to take or takes anything of value belonging to the debtor or an assignment of the wages, salary, income, credits or any other thing of value of a debtor for the purpose of paying to any creditor of the debtor the debtorís wages, salary, income, credits or things of value, or the proceeds from the sale of the things of value.
(2) An employee of a debt consolidating agency is not required to register with the director under subsection (1) of this section if the debt consolidating agency is registered under ORS 697.632.
(3) Subsection (1) of this section is subject to the exemptions in ORS 697.622.
(4) A person who violates subsection (1) of this section is subject to ORS 697.762, 697.832 and 697.990 (3). [1983 c.17 §3]Section: Previous 697.530 697.540 697.542 697.550 697.555 697.602 697.610 697.612 697.615 697.620 697.622 697.625 697.630 697.632 697.635 Next
Last modified: August 7, 2008