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Current as of January 01, 2023 | Updated by Findlaw Staff
If an Oregon operating institution delays or fails to furnish reports in the manner required under ORS 706.630, the Oregon operating institution is subject to a penalty of $250 a day for each day while in default. The Oregon operating institution shall pay the penalty after receiving notice or demand for the amount of the penalty from the Director of the Department of Consumer and Business Services. If the Oregon operating institution does not pay the penalty upon demand by the director, the director shall proceed to collect the penalty in the manner prescribed by ORS 706.570 (3). If the director determines that the default was unavoidable, the director may waive the penalty.
Cite this article: FindLaw.com - Oregon Revised Statutes Financial Institutions § 706.650 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-53-financial-institutions/or-rev-st-sect-706-650/
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