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Current as of January 01, 2023 | Updated by Findlaw Staff
(1) An insured institution or extranational institution shall file a notice with the Director of the Department of Consumer and Business Services and pay a nonrefundable fee of $100 within 30 days after establishing a loan production office in this state. The notice must include:
(a) The name of the insured institution or extranational institution and the address of the main office;
(b) The name and address of the loan production office; and
(c) The name and address of the officer of the insured institution or extranational institution who is responsible for loan production office activities.
(2) An insured institution or extranational institution shall file a notice under subsection (1) of this section for each loan production office the insured institution or extranational institution establishes in this state.
(3) An insured institution or extranational institution shall amend a notice the insured institution or extranational institution filed under subsection (1) of this section if a material change occurs in the information in the original notice. An amendment to a notice is not subject to a fee.
(4) An insured institution or extranational institution shall notify the director if the insured institution or extranational institution closes a loan production office in this state, specifying the date of closure and describing how the insured institution or extranational institution will dispose of any records the insured institution or extranational institution maintained at the loan production office. A notice under this subsection is not subject to a fee.
Cite this article: FindLaw.com - Oregon Revised Statutes Financial Institutions § 706.578 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-53-financial-institutions/or-rev-st-sect-706-578/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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