Oregon Statutes - Chapter 725 - Consumer Finance; Title and Payday Loans

• 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:...
• 725.015   Construction of chapter.
  Nothing in this chapter shall be construed or held to limit the rights, powers or privileges granted to any person by any law of this...
• 725.020   Short title.
  This chapter shall be known as the Oregon Consumer Finance Act. [Amended by 1955 c.71 §1]
• 725.025   [1955 c.71 §14; repealed by 1987 c.650 §21]
• 725.026   [1955 c.71 §16; repealed by 1999 c.469 §7]
• 725.027   [1955 c.71 §15; 1985 c.762 §113; repealed by 1999 c.469 §7]
• 725.030   [Amended by 1955 c.71 §2; 1971 c.450 §1; 1973 c.428 §1; 1975 c.567 §1; repealed by 1981 c.412 §9 (725.031, 725.036 and 725.041 enacted in lieu of 725.030)]
• 725.031   [1981 c.412 §10 (725.031, 725.036 and 725.041 enacted in lieu of 725.030); repealed by 1987 c.215 §24]
• 725.036   [1981 c.412 §11 (725.031, 725.036 and 725.041 enacted in lieu of 725.030); repealed by 1987 c.215 §24]
• 725.040   [Renumbered 725.015]
• 725.041   [1981 c.412 §12 (725.031, 725.036 and 725.041 enacted in lieu of 725.030); repealed by 1987 c.215 §24]
• 725.045   Prohibition on making certain consumer loans in course of business without license; application of license requirement.
  (1) Without first obtaining a license under this chapter, a person may not conduct a business in which the person makes a loan described in...
• 725.050   Prohibited transactions.
  No licensee shall take: (1) Any power of attorney from any borrower, except a power of attorney to effectuate the transfer of the ownership of...
• 725.060   False advertising prohibited.
  No licensee or other person shall advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, distributed or...
• 725.110   Requirement that licensee be qualified to conduct business in this state.
  A license shall not be granted to any person under this chapter unless the person is legally qualified to conduct business in this state. [Amended...
• 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...
• 725.125   [1971 c.450 §5; repealed by 1973 c.428 §11]
• 725.130   [Repealed by 1955 c.71 §17]
• 725.140   Issuance of license; conditions.
  (1) Conditioned upon the applicant’s compliance with this chapter and the payment of the license fee, the Director of the Department of Consumer and Business...
• 725.145   Disapproval of application for license.
  The Director of the Department of Consumer and Business Services may disapprove an application for a license if any person named in the application submitted...
• 725.150   Notice of disapproval of application.
  If the Director of the Department of Consumer and Business Services disapproves an application for a license, the director shall notify the applicant immediately, giving...
• 725.160   Form of license; posting; transferability.
  The license shall be in a form prescribed by the Director of the Department of Consumer and Business Services and shall state the address at...
• 725.170   [Repealed by 1955 c.71 §17]
• 725.180   [Amended by 1955 c.71 §7; 1977 c.135 §53; repealed by 1985 c.762 §196]
• 725.185   License fees; fees for extra service.
  (1) Each licensee shall pay to the Director of the Department of Consumer and Business Services each year the license fee determined by reference to...
• 725.190   Report of licensee; penalty for failure to report.
  (1) On or before February 15 of each year, or on such other date established by the Director of the Department of Consumer and Business...
• 725.200   [Repealed by 1971 c.743 §432]
• 725.210   Additional licenses to same applicant.
  No licensee shall transact any business within the scope of this chapter except under the name and at the place of business named in the...
• 725.220   Change of place of business.
  (1) When a licensee wishes to change the place of business to another location, the licensee shall submit written notice thereof, together with the license,...
• 725.230   Revocation and suspension of licenses.
  (1) The Director of the Department of Consumer and Business Services may revoke any license under this chapter upon 10 days’ notice to the licensee...
• 725.235   Procedure for license denial, revocation or suspension.
  (1) If the Director of the Department of Consumer and Business Services denies a license, or proposes to revoke or suspend a license, opportunity for...
• 725.240   [Repealed by 1971 c.734 §21]
• 725.250   Surrender of license.
  (1) Any licensee may surrender any license issued to the licensee by delivering written notice to the Director of the Department of Consumer and Business...
• 725.260   Effect of revocation, suspension or surrender of license.
  The revocation, suspension or surrender of any license shall not impair or affect the rights or obligations of any preexisting lawful contract between the licensee...
• 725.270   Reinstatement of revoked license; fee.
  The Director of the Department of Consumer and Business Services may reinstate any revoked license upon the licensee’s compliance with the provisions of law or...
• 725.310   Investigation and examination by director.
  (1) For discovering violations of this chapter and securing information required by the Director of the Department of Consumer and Business Services under this chapter,...
• 725.312   Inspection and examination of licensees.
  (1) Each licensee is subject to inspection by the Director of the Department of Consumer and Business Services. The director shall conduct an examination of...
• 725.315   Removal or suspension of officer of licensee.
  If the Director of the Department of Consumer and Business Services finds that any officer or director of a licensee is dishonest, reckless or incompetent,...
• 725.317   Removal of officer of licensee for reasons stated in ORS 725.145.
  The Director of the Department of Consumer and Business Services by order may direct a licensee to remove an officer or director of the licensee...
• 725.319   False information in course of investigation or examination prohibited.
  A person may not knowingly give or cause to be given to the Director of the Department of Consumer and Business Services any document or...
• 725.320   Rulings of director.
  The Director of the Department of Consumer and Business Services may make such specific rulings, demands and findings as may be necessary for the proper...
• 725.330   Books and records of licensee.
  Subject to the provisions of this chapter, the Director of the Department of Consumer and Business Services may prescribe the form of the books and...
• 725.340   Interest and other charges.
  (1) Except as provided in ORS 725.615 and 725.622, a licensee may: (a) Charge, contract for and receive in connection with a consumer finance loan...
• 725.342   [1979 c.326 §2; repealed by 1981 c.412 §24]
• 725.345   Open-end loan plan; interest; security for plan; necessary disclosures.
  (1) As used in this section and ORS 725.347, “open-end loan plan” means a plan or arrangement, the agreement for which expressly states that it...
• 725.347   Open-end credit card plan authorized.
  (1) As used in this section, “open-end credit card plan” means an open-end loan plan under which: (a) The licensee issues one or more cards,...
• 725.349   Application of ORS 725.210 to certain loans and advances.
  On and after September 20, 1985, ORS 725.210 applies to loans and advances pursuant to ORS 725.345, provided that a licensee that applied for and...
• 725.350   [Repealed by 1971 c.232 §4]
• 725.355   Prohibition against assignment of earnings for loan security.
  (1) As used in this section, “earnings” means salary, wages or other compensation for service. (2) No licensee shall take an assignment of earnings as...
• 725.360   Licensee duty toward borrowers.
  Every licensee shall: (1) Deliver to the borrower at the time any loan is made a statement in the English language showing in clear and...
• 725.370   Lawful loans in other jurisdictions not affected by this chapter; exception.
  Except as otherwise provided in ORS 725.602, loans made or payable in other jurisdictions and lawful where made or payable, are not affected by this...
• 725.380   [Repealed by 1975 c.544 §62]
• 725.385   Duty to give notice of defalcation to law enforcement officer, director; audit.
  (1) A director or officer of a licensee who has reason to believe that a defalcation has occurred at any office of the licensee shall...
• 725.390   [1979 c.88 §39; 1985 c.762 §132; repealed by 1987 c.650 §21]
• 725.395   Director to give notice of suspected defalcation to law enforcement agency; exceptions.
  If the Director of the Department of Consumer and Business Services has reason to believe that a defalcation has occurred at an office of a...
• 725.400   Cease and desist order.
  (1) The Director of the Department of Consumer and Business Services may issue and serve upon the following persons an order to cease and desist...
• 725.410   Enforcement actions.
  The Director of the Department of Consumer and Business Services may institute any action or other proceeding that the director considers necessary for enforcing any...
• 725.505   Rulemaking authority; notice.
  (1) In accordance with ORS chapter 183, the Director of the Department of Consumer and Business Services may adopt rules for the purposes of protecting...
• 725.510   Person not liable for good faith acts or omissions.
  A person may not be held personally liable for an act done or omitted by the person in good faith and in compliance with a...
• 725.600   Definitions for ORS 725.600 to 725.630.
  As used in ORS 725.600 to 725.630: (1) A lender is: (a) “In the business of making title loans” if at least 10 percent of...
• 725.602   Loans made to persons with Oregon domicile; application of chapter.
  (1) Notwithstanding ORS 725.370, a person that makes a payday loan or title loan is subject to this chapter if in the person’s capacity as...
• 725.605   Good faith belief in consumer ability to repay.
  A lender may not make a title loan to a consumer without forming a good faith belief that the consumer has the ability to repay...
• 725.610   License required for agent, broker or facilitator.
  A person may not act as an agent, broker or facilitator for the purpose of making a title or payday loan without first obtaining a...
• 725.615   Prohibited actions by title lender.
  (1) A lender in the business of making title loans may not: (a) Make or renew a title loan at a rate of interest that...
• 725.620   Filing complaint against title lender; notice; investigation.
  (1) A lender in the business of making title loans shall include in every title loan contract a notice, printed in type size equal to...
• 725.622   Prohibited actions by payday lender.
  (1) A lender in the business of making payday loans may not: (a) Make or renew a payday loan at a rate of interest that...
• 725.624   Filing complaint against payday lender; investigation.
  (1) A person claiming to be aggrieved by a practice that violates ORS 725.622, or the person’s attorney, may file with the Director of the...
• 725.625   [2001 c.445 §202; repealed by 2007 c.603 §11]
• 725.626   Effect of failure to obtain license; exceptions.
  (1) Except as provided in subsection (2) of this section, a lender may not deposit a consumer’s check, withdraw funds electronically from a consumer’s account,...
• 725.630   Tracking outstanding consumer loans; use of system; requirements for entering, updating and retaining records; fees; rules.
  (1) The Director of the Department of Consumer and Business Services may, by contract with a vendor or service provider or otherwise, develop and implement...
• 725.910   Civil penalties.
  (1) The Director of the Department of Consumer and Business Services may assess against any person who violates any provision of this chapter, or any...
• 725.990   [Amended by 1971 c.743 §424; repealed by 1975 c.544 §62]

Last modified: August 7, 2008