Current as of January 01, 2018 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(1) The Director of the Department of Consumer and Business Services may cancel an application or license if the director finds that the applicant or licensee:
(a) Has ceased to do business as a mortgage banker or mortgage broker;
(b) Has failed to maintain a corporate surety bond or irrevocable letter of credit required under ORS 86A.106 or 86A.227; or
(c) Cannot be located after a reasonable search.
(2) A mortgage banker or mortgage broker may surrender a license by filing an application to surrender the license. Unless the director determines that the license should be suspended or revoked, the director shall allow the surrender subject to any conditions, limitations and restrictions the director may impose.
Cite this article: FindLaw.com - Oregon Revised Statutes Mortgages and Liens § 86A.121 - last updated January 01, 2018 | https://codes.findlaw.com/or/title-9-mortgages-and-liens/or-rev-st-sect-86a-121/
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 or via Westlaw before relying on it for your legal needs.