Oregon Real Estate and Escrow Activities
ORS 696.520
Application of ORS 696.505 to 696.590


The provisions of ORS 696.505 (Definitions for ORS 696.505 to 696.590) to 696.590 (Penalty amounts) do not apply to and the term “escrow agent” does not include:

(1)

Any person doing business under the laws of this state or the United States relating to banks, mutual savings banks, trust companies, savings and loan associations, consumer finance companies, or insurance companies except to the extent that the person provides real estate closing escrow services other than those permitted under subsection (3) of this section.

(2)

An attorney at law rendering services in the performance of duties as attorney at law.

(3)

Any firm or corporation lending money on real or personal property and which firm or corporation is subject to licensing, supervision or auditing by a federal or state agency but only to the extent of closing a loan transaction between the firm or corporation and a borrower, and seller, if a fee for escrow services is not charged to the seller.

(4)

Any person doing any of the acts specified in ORS 696.505 (Definitions for ORS 696.505 to 696.590) (5) under order of any court.

(5)

Any real estate broker or principal real estate broker licensed under ORS 696.022 (Licensing system for real estate brokers and property managers) who performs the closing for the principals in a real estate transaction handled by the broker, if the principals are not charged a separate fee for escrow services.

(6)

Any collection agency registered under ORS 697.015 (Registration requirement) that is engaged in any collection or billing activity without holding documents relating to the debt. [1963 c.440 §2; 1967 c.359 §701; 1971 c.398 §1; 1977 c.351 §6; 1981 c.617 §22; 1991 c.874 §3; 2001 c.300 §37; 2003 c.427 §6; 2007 c.337 §7; 2017 c.234 §24]
Source
Last accessed
May. 15, 2020