Collection Agencies

ORS 697.500
Definitions for ORS 697.500 to 697.555


As used in ORS 697.500 (Definitions for ORS 697.500 to 697.555) to 697.555 (Civil penalties):

(1)

(a) “Check-cashing business” means a person that conducts a business that for a fee, service charge or other consideration provides money, credit or any other thing of value in exchange for payment instruments.

(b)

“Check-cashing business” does not include a financial institution as defined in ORS 706.008 (Additional definitions for Bank Act) or an employee of a licensee.

(2)

“Licensee” means a person licensed as a check-cashing business under ORS 697.514 (Application review and license issuance).

(3)

“Nationwide Multistate Licensing System” means a system that the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, or assigns of the Conference of State Bank Supervisors or the American Association of Residential Mortgage Regulators, develop and maintain for participating state agencies to use in licensing and registering mortgage loan originators and other persons that provide nondepository financial services.

(4)

“Payment instrument” means:

(a)

A check, warrant or draft issued by the federal government, a state government, a county or municipal government, or a federal or state agency;

(b)

A payroll check; or

(c)

A personal check, money order or any other check. [2007 c.358 §1; 2015 c.118 §1]
Chapter 697

Atty. Gen. Opinions

Duty of merchant using third party letterhead purchased from collection letter service to obtain license, (1972) Vol 36, p 79


Source

Last accessed
Jun. 26, 2021