Oregon Condominiums
ORS 100.675
Inventory of filing; review; approval; timelines


(1)

Within five working days after receipt of the prescribed filing fee under ORS 100.670 (Fees) and information filed under ORS 100.635 (Filing with commissioner), 100.660 (Nonresidential condominium or security filing) or 100.668 (Documents and information included with filing), the Real Estate Commissioner shall inventory the filing and determine whether the filing includes all required information and documentation and designate the filing as:

(a)

Complete, if the commissioner determines that all required information and documentation is included; or

(b)

Partially complete, if the commissioner determines that all required information and documentation is not included.

(2)

If the commissioner designates the filing as complete under subsection (1)(a) of this section, the commissioner shall issue a notice of complete filing to the declarant.

(3)

If the commissioner designates the filing as partially complete under subsection (1)(b) of this section, the commissioner shall issue to the declarant a notice of partial filing that:

(a)

Itemizes the information and documentation that must be filed; and

(b)

States that the filing will not be designated as complete until the commissioner receives the itemized information and documentation required.

(4)

Within 45 days after the commissioner designates a filing as complete under subsection (1)(a) of this section, the commissioner shall review the filing and:

(a)

Notify the declarant or developer in writing and specify what information or documentation in the filing does not meet the applicable requirements under this chapter or what additional information is necessary to review and approve the filing or, if the filing is made under ORS 100.635 (Filing with commissioner), adopt and issue the disclosure statement;

(b)

Approve the document filed for approval; or

(c)

If the filing is made under ORS 100.635 (Filing with commissioner), adopt and issue the disclosure statement under ORS 100.655 (Disclosure statement).

(5)

If the commissioner does not comply with subsection (4) of this section within 45 days after the date the filing is designated as complete, the filing is deemed approved.

(6)

Upon approving the filing under this section, the commissioner shall provide written notice of the approval to the person making the filing. [Formerly 94.357; 2019 c.69 §26]
Source
Last accessed
May. 15, 2020