Oregon Statutes - Chapter 725 - Consumer Finance; Title and Payday Loans - Section 725.010 - Definitions.

As used in this chapter:

(1)(a) “Broker or facilitator” means a person that conducts a business in which, for a fee or consideration, the person:

(A) Processes, receives or accepts for delivery to a lender an application for a loan, individually or in conjunction or cooperation with another person;

(B) Accepts and delivers to a lender all or most of the proceeds of a payment made in connection with a loan; or

(C) Assists in making a loan in a material capacity other than as a lender.

(b) “Broker or facilitator” does not include a mortgage broker or loan originator, as those terms are defined in ORS 59.840, or an employee of a licensee.

(2) “Consumer finance loan” means a loan or line of credit that is unsecured or secured by personal or real property and that has periodic payments and terms longer than 60 days.

(3) “Licensee” means a person licensed under this chapter. [Amended by 1985 c.762 §106; 1987 c.373 §66; 1993 c.744 §26; 2007 c.603 §1]

Section:  725.010  725.015  725.020  725.025  725.026  725.027  725.030  725.031  725.036  725.040  725.041  725.045  725.050  725.060  725.110  Next

Last modified: August 7, 2008