OAR 441-820-0010
Licensing

Each person applying for a debt buyer license shall submit to the director all the following through the Nationwide Multistate Licensing System (NMLS):

(1) A completed Form MU1, including, but not limited to, business activities, license information, contact information, trade names used, an Oregon resident agent, web addresses, books and records information, approvals and designation, affiliates and subsidiaries, disclosure questions and explanations and ownership information.

(2) A completed Form MU2 for any director, member, officer, manager, partner or control person including but not limited to contact information, other names, residential and employment history, other business information, and disclosure questions.

(3) Fingerprints and authorization to conduct a background check from applicant and applicant’s directors, members, officers, managers, partners and control persons;

(4) A business plan;

(5) A certificate of authority or good standing showing the company’s authorization to do business in Oregon;

(6) Evidence of the company’s staffing and internal policies that includes the training that the company requires staff to complete regarding compliance with the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and information security;

(7) A copy of the company’s formation documents, if any;

(8) A management chart;

(9) An organization chart;

(10) Proof of errors and omissions insurance in the amount required by OAR 441-820-0080 (Errors and Omissions Insurance) from an insurer authorized to transact insurance in this state or from any other insurer approved by the director; and

(11) Authorization for a credit report from the applicant’s directors, members, officers, managers, partner, and control persons.

(12)(a) An applicant may indicate if they hold a current membership in or certification from a national nonprofit trade association.

(b) If an applicant indicates membership or certification in a trade association, they must include the name of the association and any individual identifier issued by the association.

Source: Rule 441-820-0010 — Licensing, https://secure.sos.state.or.us/oard/view.action?ruleNumber=441-820-0010.

441‑820‑0010
Licensing 441‑820‑0020
Deficiencies in Debt Buyer License Application 441‑820‑0030
Process to Challenge Information Entered into the National Mortgage Licensing System and Registry 441‑820‑0040
Application Review 441‑820‑0050
Renewal of Debt Buyer License 441‑820‑0060
Rules for Use of Assumed Business Names 441‑820‑0070
Fees 441‑820‑0080
Errors and Omissions Insurance 441‑820‑0090
Cancellation of Debt Buyer License for Failure to Maintain Errors and Omissions Insurance 441‑820‑0100
Director Supervision 441‑820‑0110
Licensee Responsibilities 441‑820‑0120
Display of NMLS number 441‑820‑0130
Disclosure of Significant Developments 441‑820‑0140
Examination Charges Debt Buyers Pay to the Director 441‑820‑0150
Records 441‑820‑0160
Prohibited actions 441‑820‑0170
Enforcement related to Unlawful Debt Collection Practices 441‑820‑0180
Penalties

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

OAR 441-820-0010 Licensing

OAR 441-820-0010
Licensing