Or. Admin. Code § 863-024-0061 - Affiliated and Subsidiary Organizations

(1) Affiliated organizations are two or more organizations whose controlling ownership interests are owned by the same licensee, licensees, entity, or entities.

(2) A subsidiary organization is one in which the majority of the voting stock or controlling ownership interest is owned by another organization.

(3) Affiliated or subsidiary business organizations engaging in the management of rental real estate may use the same property manager or principal broker, provided that the individual registering the business name submits proof satisfactory to the commissioner that the property manager or principal real estate broker actually manages and controls each affiliated and subsidiary organization.

(4) As used in this rule, controlling ownership interest means owning 51 percent or more.

Notes

Or. Admin. Code § 863-024-0061

REA 7-2008, f. 12-15-08, cert. ef. 1-1-09

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.020 & 696.022