Oregon Department of Consumer and Business Services, Finance and Securities Regulation

Rule Rule 441-001-0040
Requests for Opinions and Interpretations


(1)

For the purpose of this rule, a “request for opinion or interpretation” is defined as an informal inquiry requesting confirmation of the existence of an exemption, or requesting interpretation or advice on the applicability of any law administered by the Division of Financial Regulation.

(2)

The intent of this rule is to formalize the opinion procedures so requests for opinions can be handled expeditiously.

(3)

All requests for opinions and interpretations must:

(a)

Be in writing, mailed or delivered to the Department of Consumer and Business Services, Division of Financial Regulation, 350 Winter Street N.E., Room 410, PO Box 14480, Salem, Oregon 97309-0405 or faxed to 503-947-7862;

(b)

Concisely state the question or show all operative facts including the reason why the opinion or interpretation is requested; and

(c)

Contain an analysis of the law applicable to the facts.

(4)

Responses to requests for opinion will be limited to:

(a)

Notice that the Director takes the position that further action is not required;

(b)

Notice that the Director takes the position that further action is required;

(c)

Notice that the Director declines to take a position; or

(d)

A modification of the foregoing where necessary for clarity.

(5)

Responses of the Director, which do not constitute a rule or order, and are not binding on any court or third party:

(a)

Will only be in writing and will be based upon representations made.

(b)

May be revised if additional facts or circumstances exist which warrant a change.

(c)

Will be declined where litigation is pending or is threatened.

(d)

Will be declined where the questions are asked after the fact.

(e)

Will be declined where significant additional research is required.

(f)

Are binding on the Director and the requester on the state of facts presented unless altered or set aside by a court.

(6)

Any party dissatisfied with an opinion or interpretation may petition the Director for a declaratory ruling pursuant to ORS 183.410 (Agency determination of applicability of rule or statute to petitioner).
Source

Last accessed
Jun. 8, 2021