Or. Admin. Code § 441-930-0010 - Definitions
In addition to the definitions in ORS 97.010 and 97.923, the following definitions apply to OAR 441-930-0010 to 441-930-0360:
(1) "Applicant" means an entity applying to
the director for a certification concerning prearrangement plans or for a
registration to serve as a master trustee.
(2) "Director" means the Director of the
Department of Consumer and Business Services.
(3) "Limited Operations Certified Provider"
means a certified provider responsible for administering 10 or fewer
prearrangement or preconstruction sales contracts which have a cumulative value
of less than $20,000.
(4)
"Registrant" means an entity holding a registration for a master trustee,
issued by the director.
(5) "Trust
Agreement" means any agreement governing a trust fund established to receive
the proceeds of a prearrangement or preconstruction plan and administered by a
registered master trustee.
(6)
"Trust fund balance" means the total of all prearrangement or preconstruction
contract payments provided through certified providers, installment payments,
plus the earnings of the trust fund through investments. Both deposits and
accumulated earnings become part of the principal of the trust fund for the
subsequent year.
(7)
"Unconscionable tactics" include, but are not limited to, actions by which a
person:
(a) Knowingly takes advantage of a
customer's physical infirmity, ignorance, illiteracy or inability to understand
the language of the agreement; or
(b) Knowingly permits a customer to enter
into a transaction from which the customer will derive no material
benefit.
Notes
Stat. Auth.: ORS 97.926
Stats. Implemented: ORS 97.926
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