OAR 441-730-0080
Qualifications of Person in Charge of Licensed Office

(1)

A loan licensee must not place any person in charge of a licensed office unless the person has a thorough understanding of ORS chapter 725 and these rules.

(2)

A licensee must place the experienced person as described in OAR 441-730-0025 (License Applications)(2) in its licensed office.

(3)

Notwithstanding section (2) of this rule, if the licensee holds a license for more than one location or if the experienced person described in OAR 441-730-0025 (License Applications)(2) is employed outside of Oregon, the licensee may place a qualified person with no less than one year’s traditional lending experience in charge of each licensed office provided the experienced person described in 441-730-0025 (License Applications)(2) supervises the lending operations of each location.

(4)

At the request of the applicant and in the sole discretion of the director, education, extensive training or other business experience may be substituted for the one year of relevant lending experience required in section (3) of this rule.

(5)

Unless a licensee requires all loan underwriting decisions be forwarded to an experienced person at another location or uses a formalized grading system, a licensee must employ or place a qualified person as described in this rule at each licensed office to be in charge of and oversee the lending operations of the office. A licensee must provide the director with a current resume for any new manager employed or placed at a licensed office within 30 days of the date of their employment.

Source: Rule 441-730-0080 — Qualifications of Person in Charge of Licensed Office, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-730-0080 (accessed May 26, 2025).

441–730–0000
Statutory Authority 441–730–0010
Definitions 441–730–0015
Licensee Lending Characteristics and Practices 441–730–0025
License Applications 441–730–0026
Corporate Surety Bond for Consumer Finance Licensees Employing a Mortgage Loan Originator 441–730–0027
State Criminal Records Check 441–730–0030
Fees, Charges Licensees Pay the Director 441–730–0050
Notes and Agreements 441–730–0060
Loans Not to Be Payable on Demand 441–730–0070
Advertising Regulations 441–730–0080
Qualifications of Person in Charge of Licensed Office 441–730–0100
Licensee Officers and Directors 441–730–0110
Accounting Records of Licensee 441–730–0120
Account Record to Be Maintained for Each Loan 441–730–0125
Residential Borrower Files for Mortgage Loans 441–730–0130
Maintaining Index of Obligors 441–730–0140
Records and Files Required to Be Kept at Servicing Office 441–730–0150
Consolidating Sales Financing into Direct Loans 441–730–0160
Daily-Interest Computation 441–730–0170
Precomputed Interest 441–730–0180
Deferred Payment on Precomputed Loan 441–730–0200
Action on Precomputed Loan 441–730–0205
Limitation on Charging a Prepayment Penalty by Consumer Finance Licensees 441–730–0210
Recomputation of Interest on Delinquent Precomputed Loan 441–730–0220
Insurance Premium Charges 441–730–0230
Insurance Benefits Paid to Licensee 441–730–0240
Statement of Loan 441–730–0246
Contents of Foreclosure Notices 441–730–0250
Receipt to Be Furnished to Borrower Upon Request 441–730–0255
Payoff Information to be Furnished to Borrower Upon Request 441–730–0260
Advances to Perform Covenants 441–730–0280
Prohibited Provisions in Loan Contract Provisions 441–730–0320
Licensee Reporting

May 26, 2025

Rule 441-730-0080's source at or​.us