Or. Admin. Code § 441-730-0100 - Licensee Officers and Directors
(1)
(a) A
licensee may add a new executive officer, owner, director, or managing partner
at any time after the licensee has been granted a license if after the addition
at least one-half of the executive officers, owners, directors, or managing
partners can demonstrate verifiable recent lending experience in banking,
consumer finance, or mortgage lending as required by OAR
441-730-0025.
(b) If a licensee adds a new executive
officer, director, partial owner, or managing partner under this section, the
licensee must provide a current resume for such new persons demonstrating
verifiable recent lending experience in banking, consumer finance, or mortgage
lending to the director within 30 days of their appointment or
selection.
(2) If an
existing or new executive officer, director, partial owner, or managing partner
of the licensee gains a controlling interest in the company after the license
has been granted, the licensee must notify the director within 30
days.
(3) An officer or director of
a licensee addressed in an order issued by the director under ORS
725.315 or
725.317 may, within 30 days
after the date the order is issued and served, request a hearing on the order
as provided for contested cases by 183.310 to 183.500, and the rules of the
director adopted pursuant thereto.
(4) A person who is suspended or removed
under ORS 725.315 or
725.317 must not conduct any of
the business of the licensee or have access to the books, records, or assets of
the licensee either as an officer, director, partner, stockholder, or employee
without receiving permission from the director:
(a) During the period of the suspension;
or
(b) After the effective date of
the removal.
(5) A
licensee subject to an order of suspension under the provisions of ORS
725.230(2) may,
within 90 days after the date the order is issued or served, request a hearing
on the order as provided for contested cases by 183.310 to 183.500 and the
rules of the director adopted pursuant thereto.
Notes
Stat. Auth.: ORS 725.505
Stats. Implemented: ORS 725.315 & 725.317
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