The Director of the Department of Consumer and Business Services may not grant a license to engage in the business of pawnbroker to any person if any person named in the application submitted pursuant to ORS 726.060:
(1) Is insolvent, either in the sense that the person’s liabilities exceed the person’s assets or that the person cannot meet obligations as they mature, or is in such financial condition that the person cannot continue in business with safety to the person’s customers;
(2) Has engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession;
(3) Has willfully or repeatedly violated or failed to comply with any provision of the Oregon Bank Act, the Savings Association Act, the Oregon Credit Union Act, the Oregon Consumer Finance Act or the Pawnbrokers Act, or any administrative rule or order adopted pursuant to any such Act;
(4) Has been convicted of a crime, an essential element of which is fraud;
(5) Is not qualified to conduct a pawnbroker business on the basis of such factors as training, experience and knowledge of the business;
(6) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the pawnbroker business;
(7) Is the subject of an order of the director, subjecting the person to a fine or other civil penalty, or removing the person from an office in any entity regulated by either director; or
(8) Is the subject of an order entered within the past five years, subjecting the person to a fine or other civil penalty, or removing the person from an office in a state banking institution, a national bank, a state or federal savings association, a state or federal credit union or a consumer finance company, issued by the regulatory authority of another state or of the federal government with authority over such banking institutions, credit unions, consumer finance companies or savings associations. [1977 c.135 §55; 1985 c.762 §137]
Section: Previous 726.010 726.020 726.030 726.040 726.050 726.060 726.070 726.075 726.080 726.090 726.100 726.110 726.120 726.125 726.130 NextLast modified: August 7, 2008