Or. Admin. Code § 845-005-0450 - Standards for Authority to Operate a Licensed Business as a Trustee, a Receiver, a Personal Representative or a Secured Party
(1) ORS 471.292(2)(b) and (c) allow the
Commission to issue a temporary authority to operate a licensed business to a
trustee, the receiver of an insolvent or bankrupt licensed business, the
personal representative of a deceased licensee, or a person holding a security
interest in the business. The purpose of this authority is to provide for the
operation of the licensed business for a reasonable period of time to allow
orderly disposition of the business.
(a) The
trustee, receiver or personal representative must provide the Commission with
the following information:
(A) Proof that the
person is the legal trustee, receiver or personal representative for the
business; and
(B) A written request
for authority to operate as a trustee, receiver or personal representative,
listing the address and telephone number of the trustee, receiver or personal
representative.
(b) The
secured party must provide the Commission with the following information:
(A) Proof of a security interest in the
licensed business;
(B) Proof of the
licensee's default on the secured debt;
(C) Proof of legal access to the real
property; and
(D) A written request
for authority to operate as a secured party listing the secured party's address
and telephone number.
(2) The Commission may revoke or refuse to
issue or extend authority for the trustee, receiver, personal representative,
or secured party to operate:
(a) If the
trustee, receiver, personal representative or secured party does not propose to
operate the business immediately or does not begin to operate the business
immediately upon receiving the temporary authority;
(b) For any of the reasons that the
Commission may revoke or refuse to issue or renew a license;
(c) If the trustee, receiver, personal
representative or secured party operates the business in violation of ORS
Chapter 471 or OAR chapter 845; or
(d) If a reasonable time for disposition of
the business has elapsed.
(3) No person or entity described in section
(1) of this rule may operate the business until a certificate of authority has
been issued under this rule, except that the personal representative of a
deceased licensee may operate the business for up to 10 days after the death
provided that the personal representative submits the information required in
section (1)(a) and obtains a certificate of authority within that time
period.
(4) A certificate of
authority under this rule is initially issued for a 60-day period and may be
extended as reasonably necessary to allow for the disposition of the
business.
Notes
Statutory/Other Authority: ORS 471, including 471.030, 471.040, 471.730(1) & (5)
Statutes/Other Implemented: ORS 471.292(2)
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