(1) If a client has obtained a judgment from a court on a claim against a debt consolidating agency registered under ORS 697.632 and the claim is one for which the client may seek recovery under the debt consolidating agency’s bond filed under ORS 697.642, the client may file the judgment with the Director of the Department of Consumer and Business Services for the purpose of recovering under the bond.
(2) Except as may be limited under ORS 697.812, the director shall pay the amount specified in the order of a court as recoverable by the client under the conditions of the bond of the debt consolidating agency. If the judgment does not specify the amount recoverable under the bond, the director shall initiate a hearing to determine that amount. The claimant, the debt consolidating agency and the corporate surety from which the bond was obtained shall have the right to appear and be heard at the hearing. A hearing under this section is subject to ORS chapter 183. The director shall determine and pay the amount of the judgment recoverable under the bond, subject to ORS 697.812. [1983 c.17 §19; 1989 c.209 §4]Section: Previous 697.750 697.752 697.755 697.760 697.762 697.765 697.770 697.772 697.775 697.780 697.782 697.783 697.785 697.790 697.792 Next
Last modified: August 7, 2008