OAR 863-015-0081
Compliance Reviews
(1)
The Agency will provide a principal broker with written notice at least five business days before conducting a compliance review.(2)
A compliance review is completed when the Agency delivers a written notice of completion to the principal broker.(3)
Except as provided in section (4) of this rule, if the Agency determines that a principal broker is not in compliance with ORS 696.010 (Definitions) to 696.495 (Revolving fund), 696.600 (Definitions for ORS 696.392, 696.600 to 696.785 and 696.995) to 696.785 (Commissioner duties when illegal commingling of funds found), 696.800 (Definitions) to 696.870 (Duties of real estate licensee under ORS 105.462 to 105.490, 696.301 and 696.870), or OAR chapter 863 after the Agency completes a compliance review, the Agency will allow the principal broker at least 30 days from the date the compliance review is completed to cure the noncompliance without sanction.(4)
Upon completion of a compliance review, if the Agency has reasonable grounds to believe that the funds belonging to others may be missing, funds may have been misappropriated, or that the principal broker’s records are in such a condition that the principal broker is placing funds belonging to others at risk the Agency may immediately initiate an investigation without providing a principal broker with an opportunity to cure noncompliance.
Source:
Rule 863-015-0081 — Compliance Reviews, https://secure.sos.state.or.us/oard/view.action?ruleNumber=863-015-0081.