Short-Term Loans and Student Loan Servicing

ORS 725A.038
License surrender

(1)

A licensee may deliver a written notice to the Director of the Department of Consumer and Business Services to surrender a license the director issued to the licensee under ORS 725A.024 (License application approval).
(2)(a) A licensee shall surrender a license under which no material loan activity has occurred for a period of 12 consecutive months.

(b)

For purposes of this subsection, “material loan activity” includes a new loan, a loan that refinances an existing loan or a formal extension of existing loan repayment provisions for more than 30 days.

(3)

A licensee’s surrendering a license under subsection (1) or (2) of this section does not affect the licensee’s civil or criminal liability for acts the licensee committed before surrendering the license. [2010 c.23 §12]
Source

Last accessed
Mar. 11, 2023

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