ORS 697.632
Registration procedure
- fees
- rules
(1)
Intentionally left blank —Ed.(a)
The Director of the Department of Consumer and Business Services shall maintain a registry of debt management service providers and by rule in accordance with ORS chapter 183 shall require a person that performs a debt management service, unless the person is exempt under ORS 697.612 (Registration requirement) (3), to apply to the director to register or to renew a registration as a debt management service provider.(b)
The director, consistent with the requirements of ORS 697.602 (Definitions for ORS 697.602 to 697.842) to 697.842 (Disposition of moneys received by director), may administer a program to register debt management service providers, or renew registrations, by means of an agreement with the Nationwide Multistate Licensing System and may, by rule, conform the practices, procedures and information that the Department of Consumer and Business Services uses to register a debt management service provider, or renew a registration, to the requirements of the Nationwide Multistate Licensing System.(c)
An application for registration or renewal must provide to the director on a form and in a format the director specifies:(A)
The applicant’s name and address;(B)
Any assumed business names, trade names or other identities under which the applicant performs a debt management service;(C)
A general description of the debt management service business activities the applicant undertakes or proposes to undertake;(D)
The names of any managing members, managing partners, executive officers, directors, principals or agents the applicant has;(E)
The name of the applicant’s registered agent or the applicant’s agent for the purpose of receiving service of legal process;(F)
A signed statement that identifies and describes in detail any incident in which the applicant or a member, partner, officer, director or principal of the applicant within the five years before the date on which the applicant applied to register or renew a registration as a debt management service provider was subject to:(i)
A judgment in favor of another person in a circuit court of this state or in an equivalent court in another state;(ii)
An arbitration award in favor of another person; or(iii)
An adverse final order from an administrative agency in this state or another state;(G)
A copy of the corporate surety bond the applicant filed with the director under ORS 697.642 (Bond requirement);(H)
Fingerprints for any of the applicant’s executive officers, and officers and managers with supervisory responsibility over the applicant’s activities, with which the director may conduct a criminal records check that the director may process through the Nationwide Multistate Licensing System; and(I)
Other information the director may require concerning the financial responsibility, training, background, experience and business activities of the applicant or a member, partner, officer, director or principal of the applicant.(2)
At the time an applicant submits an application for registration under this section, the applicant shall pay a nonrefundable fee in an amount the director specifies by rule. An applicant who applies to renew a registration shall pay another fee in an amount the director specifies by rule.(3)
The director shall specify amounts for the fees described in subsection (2) of this section that in the aggregate are sufficient to pay the costs of administering ORS 697.602 (Definitions for ORS 697.602 to 697.842) to 697.842 (Disposition of moneys received by director). The director shall pay all moneys received under this section as provided in ORS 697.842 (Disposition of moneys received by director).(4)
A registration under this section is valid until December 31 of the calendar year in which the director approves the registration. In order to continue to provide a debt management service, a debt management service provider must renew the registration at the time the registration expires.(5)
Intentionally left blank —Ed.(a)
The director may refuse to register the applicant or may refuse to renew a registration for a debt management service provider for any of the reasons set forth in ORS 697.752 (Grounds for denial, revocation or suspension of registration).(b)
The director, for good cause shown or in order to conform the department’s licensing and license renewal program to the requirements of the Nationwide Multistate Licensing System, may waive a requirement of this section with respect to a license application or may allow an applicant to substitute information required in an application in lieu of information required under this section. [1983 c.17 §5; 1989 c.209 §1; 2009 c.604 §3; 2015 c.118 §5; 2019 c.106 §3]
Source:
Section 697.632 — Registration procedure; fees; rules, https://www.oregonlegislature.gov/bills_laws/ors/ors697.html.
Up to date