Oregon Revised Statutes Mortgages and Liens § 86A.160

NOTICE OF CLIENTS' TRUST ACCOUNT

  To: (name of bank) ______________

    I, ____________________, am the (owner, president, managing general partner or other position description) ___________________ of (name of mortgage banker or mortgage broker) _____________________ and am authorized to act on behalf of (name of mortgage banker or mortgage broker)_____________________.

    Under the provisions of ORS 86A.157, I am required to maintain in Oregon a Clients' Trust Account for the purpose of holding funds belonging to others.

    With regard to the account(s) numbered _______________ which is/are designated as a Clients' Trust Account, the account(s) is/are maintained with you as a depository for money belonging to persons other than myself and in my fiduciary capacity as a mortgage banker or mortgage broker established by client agreements in separate documents.

  Dated: (insert date)

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ACKNOWLEDGMENT OF RECEIPT

  I, _________________________, a duly authorized representative of (bank) _________, do hereby acknowledge receipt of the above NOTICE OF CLIENTS' TRUST ACCOUNT on (date) _________.

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