Or. Admin. Code § 441-735-0015 - Title Loan Licensee Lending Practices
A title loan licensee may not:
(1) Retain the title to the vehicle used as
security on a loan for more than thirty business days before submitting the
application to be recorded as a lien-holder on the title or taking other
commercially reasonable steps to be added as a security interest holder of the
vehicle;
(2) Unreasonably withhold
documents on a loan secured by a borrower's vehicle for more than three
business days if the loan is paid by certified or guaranteed funds.
Notes
Stat. Auth.: 2010 Or Laws ch. 23, §27
Stats. Implemented: 2010 Or Laws ch. 23, §§5 &15
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