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Oregon Revised Statutes Credit Unions, Lending Institutions and Pawnbrokers § 726.250

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

(1)(a) For the purpose of discovering violations of this chapter or securing information required by the Director of the Department of Consumer and Business Services under this chapter, the director at any time, either personally or by an examiner or other employee of the Department of Consumer and Business Services, may investigate the pledge loans and business and examine the books, accounts, records and files used in the pledge loans and business of every pawnbroker and of every person that the director has reason to believe is acting as a pawnbroker without a license, whether that person acts or claims to act as principal or agent, or under or without the authority of this chapter.

(b) For the purposes of paragraph (a) of this subsection:

(A) Every pawnbroker and person that the director has reason to believe is acting as a pawnbroker without a license shall give the director, examiner or other employee of the department free access to the person's place of business, books, accounts, papers, records, files, safes and vaults; and

(B) The director, examiner or other employee may:

(i) Compel the attendance of witnesses and examine the witnesses under oath; and

(ii) Require the production of documents or records.

(c) The actual cost of each examination shall be paid to the director by every person examined. The director may maintain an action for recovery of costs in any court of competent jurisdiction.

(2) As often as the director determines necessary, the director, examiner or other employee of the department shall make an examination of the pledge loans and business, office records and files of each licensed pawnbroker. The examination shall occur at the licensed location of the pawnbroker.

(3) As often as the director determines necessary, each licensed pawnbroker shall submit to the director for examination, at the office of the director, those books, records and documents prescribed by the director by rule.

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Cite this article: FindLaw.com - Oregon Revised Statutes Credit Unions, Lending Institutions and Pawnbrokers § 726.250 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-54-credit-unions-lending-institutions-and-pawnbrokers/or-rev-st-sect-726-250/

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