Or. Admin. Code § 441-735-0100 - 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 as required by ORS
725A.092.
(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 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
725A.084 may request a hearing
on the order as provided for contested cases by ORS chapter 183 and the rules
of the director adopted pursuant thereto, within 30 days after the date the
order is issued and served.
(4) A
person who is suspended or removed under ORS
725A.084 may 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
725A.034may, within 90 days after the date the order is issued or served,
request a hearing on the order as provided for contested cases by ORS chapter
183 and the rules of the director adopted pursuant thereto.
Notes
Stat. Auth.: ORS 725A.092
Stats. Implemented: ORS 725A.026 & 725A.084
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.