Oregon Statutes - Chapter 697 - Collection Agencies; Check-Cashing Businesses; Debt Consolidating Agencies - Section 697.812 - Priorities for satisfaction of claims from bond; limitation on filing claims.

(1) Claims shall be satisfied from the bond filed under ORS 697.642 in the order the claims are filed with the Director of the Department of Consumer and Business Services. For purposes of priority under this section:

(a) A claim determined by the director under ORS 697.782 is filed when the claim is first filed with and accepted by the director.

(b) A claim based on a determination by a court is filed when evidence of liability under a final determination by a court is filed with the director.

(2) If a claim filed with the director is made part of an action filed in a court before final determination of the claim by the director:

(a) The director shall dismiss the claim and discontinue any hearing on the claim; and

(b) The claim shall have priority under this section based on the time the final determination of the court is filed with the director.

(3) The bond shall not be used to satisfy claims upon a violation which was alleged to have occurred more than two years prior to the filing of the claim. [1983 c.17 §23; 1989 c.209 §6]

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Last modified: August 7, 2008