OAR 441-065-0180
Licensing of Salespersons

(1)

General License Requirements. Only persons that are licensed as a broker-dealer or salesperson may sell securities that are registered as a SOAR or SCOR Offering, unless that person is excluded from the definition of broker-dealer or salesperson under ORS 59.015 (Definitions for Oregon Securities Law)(1), ORS 59.15(18)(b), OAR 441-175-0020 (Exclusion from Definition of “Broker-Dealer”) or OAR 441-175-0040 (Exclusion from Definition of “Salesperson”).

(2)

Licensing Conditions for Issuer Salespersons. The following special licensing conditions are applicable to salespersons that are employees of the issuer (an “Issuer Salesperson.”):

(a)

An issuer may license up to five persons as Issuer Salespersons;

(b)

Issuer Salespersons must be bona fide officers, directors or employees of the issuer;

(c)

Issuer Salespersons are exempt from examination requirements and are not required to file a surety bond or an irrevocable letter of credit; and

(d)

An issuer salesperson shall not be simultaneously licensed to two or more issuers.

(3)

Licensing Procedures for Issuer Salespersons. As required by OAR 441-175-0120 (Licensing of Salespersons or Representatives to Non-FINRA Broker-Dealers, State or Federal Covered Investment Advisers, Issuers and Owners of Securities), an issuer shall submit to the Director a complete application to license each salesperson, including:

(a)

A completed FINRA Form U-4 (salesperson application); and

(b)

A salesperson licensing fee as set in OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals).

Source: Rule 441-065-0180 — Licensing of Salespersons, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-065-0180.

441‑065‑0001
Fees for Registration of Securities 441‑065‑0010
Types of Registration 441‑065‑0015
When Registration Application Deemed Abandoned 441‑065‑0020
Registration by Qualification 441‑065‑0030
Registration by Filing 441‑065‑0035
Registration by Multijurisdictional Coordination 441‑065‑0040
Registration for Resale, or Dealing and Trading 441‑065‑0050
Condominium Securities 441‑065‑0060
Creation of Classifications 441‑065‑0070
Definitions 441‑065‑0080
General Requirements and Limitations 441‑065‑0090
Integration 441‑065‑0100
Information Requirements - General 441‑065‑0110
Public Advertising and General Solicitation 441‑065‑0130
Bad Actor Disqualification 441‑065‑0140
Limitation on Selling Expenses 441‑065‑0150
Escrow of Proceeds 441‑065‑0160
Rescission of Improvident Sales Including Oversales 441‑065‑0180
Licensing of Salespersons 441‑065‑0190
Filings and Reports 441‑065‑0200
Records 441‑065‑0210
Waiver of Provisions 441‑065‑0220
Small Offering Abbreviated Registration (SOAR) Procedure for Offerings Not Exceeding $1,000,000 (Including Under SEC Rule 504) 441‑065‑0221
Application and Information Requirements for a SOAR Offering 441‑065‑0222
SOAR Offering Disclosure Requirements 441‑065‑0223
Denial or Approval of a SOAR Offering Application by the Director 441‑065‑0224
Retroactive Registration of SOAR Securities that Exceed the Amount Registered 441‑065‑0225
Registration for a Small Corporate Offering Registration (SCOR) Procedure for Offerings Not Exceeding $5,000,000 441‑065‑0250
Definitions 441‑065‑0260
Optional Registration Procedures for Securities Involving Real Estate Paper
Last Updated

Jun. 8, 2021

Rule 441-065-0180’s source at or​.us