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Oregon Revised Statutes Credit Unions, Lending Institutions and Pawnbrokers § 725.400

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) The Director of the Department of Consumer and Business Services may issue and serve upon the following persons an order to cease and desist from a violation when the director has reasonable cause to believe that the person to whom the order is directed is violating, has violated or is about to violate any provision of this chapter or a rule or order of the director:

(a) A licensee.

(b) A director, officer, employee or agent of a licensee.

(c) A person acting as a consumer finance lender without a license.

(2) An order under subsection (1) of this section must include the following:

(a) A statement of the facts constituting the violation.

(b) A provision requiring the person named in the order to cease and desist from the violation. The provision may be mandatory or otherwise.

(c) The effective date of the order.

(d) A notice to the person named in the order of the right to a contested case hearing under ORS chapter 183.

(3) An order under this section is effective 30 days after the date of the order unless the person named in the order requests a hearing on the order.

(4) An order under this section remains in effect until it is withdrawn by the director or by a court.

(5) If an individual named in an order under this section fails to comply with the order, the director may issue an order removing or suspending the individual from the office or position held by the individual. The removal or suspension is in addition to any penalty provided by ORS 725.910 for failure to comply with an order issued under this section.

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Cite this article: FindLaw.com - Oregon Revised Statutes Credit Unions, Lending Institutions and Pawnbrokers § 725.400 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-54-credit-unions-lending-institutions-and-pawnbrokers/or-rev-st-sect-725-400/

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