Oregon Statutes - Chapter 725 - Consumer Finance; Title and Payday Loans - Section 725.120 - Application for license; notice of filing; annual fee.

(1) Application for the license shall be in writing in the form prescribed by the Director of the Department of Consumer and Business Services and shall contain the name and both the residence and business addresses of the applicant, and if the applicant is a partnership or association, of every member thereof, and if a corporation, of each officer and director thereof. The application shall also contain the county and city with street and number, if any, where the business is to be conducted and any other information which the director may require.

(2) Notice of the filing of the application shall be posted in the office of the Department of Consumer and Business Services for 30 days and no license shall be issued before the expiration of such 30-day period. However, the director may waive the posting of notice and issue a license without regard to such 30-day period if the application is for a license at a location where a license has been surrendered because of:

(a) The transfer of the business of the licensee, and the applicant is the transferee;

(b) The death of the licensee, and the applicant is a representative or heir of the licensee; or

(c) The change of the name under which the licensee does business, and the applicant is the same licensee.

(3) An applicant at the time of making application shall pay to the director a license fee determined under ORS 725.185 for the period terminating on the last day of the current calendar year. In case the license is not issued for cause or if the application is withdrawn after the applicant has been investigated by the director, there shall be refunded to the applicant all the license fee except any portion thereof determined by the director to reflect administrative and investigative costs incurred by the section relative to the application. Otherwise no part of any license fee shall be refunded. [Amended by 1955 c.71 §4; 1977 c.135 §49; 1985 c.762 §114]

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Last modified: August 7, 2008