Or. Admin. Code § 441-870-0060 - Delivery of Additional Documentation
"Manipulative, Deceptive, or Fraudulent Device or Contri?vance" and "Fraudu?lent, Deceptive, or Manipulative Act or Prac?tice" are defined to include:
(1) Failure to deliver to the
purchaser or licensed escrow agent or title company the written evidence of the
obligation, properly endorsed, together with the instrument creating the lien;
and
(2) Failure to record the
instrument creating the lien or assign?ment of the lien in a timely manner in
the county or counties where the property is located and retain a copy of the
recorded instrument in the customer file maintained by the licensee.
(3) The provisions of section (2) of this
rule do not apply when the purchaser is an institutional investor as enumerated
in ORS 59.035(4) or an
accredited investor as enumerated in 59.035(5) provided the accredited investor
has submitted an unsolicited written request that the instrument creating the
lien or the assignment of the lien not be filed in the county or counties where
the property is located.
Notes
Stat. Auth.: ORS 86A.136
Stats. Implemented: ORS 86A.115
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