Or. Admin. Code § 863-024-0095 - Business Name Registration, Principal Broker Licensed Name Registration, and Property Manager Licensed Registration

(1) Before conducting business in a name other than the licensee's legal name, the property manager must register the business name with the Agency. For the purposes of this rule, "business name" means an assumed name or the name of a business entity, such as a corporation, partnership, limited liability company, or other business entity recognized by law. A licensee must maintain the registered business name with the Oregon Secretary of State's Corporation Division.

(2) To register a business name, the property manager must submit to the Agency, using an online application, the following:

(a) The business name in which the licensee wishes to conduct business, which must be the exact name on file with the Oregon Secretary of State;

(b) Written authority by which the licensee is authorized to use the business name;

(c) A copy of the registration on file with the Oregon Secretary of State Business Registry, showing the business name is active; and

(d) The fee authorized by ORS 696.270.

(3) A property manager who wishes to use a registered business name must submit to the Agency the following:

(a) The registered business name the licensee wishes to use; and

(b) Authorization from the property manager or principal broker who is responsible for the registered business name on the records of the Agency to use the name.

(4) Business names registered with the Agency do not expire and need not be renewed by the licensee. Any change in the business name registered with the Agency will be treated as the registration of a new business name, and the change in business name must be registered with the Agency together with the fee authorized by ORS 696.270.

(5) If a licensee wishes to transfer the right to use a business name that is registered with the Agency, the licensee acquiring the right to use the name must file a change of business name registration with the Agency together with the fee authorized by ORS 696.270. A licensee must notify the Agency in writing if the licensee terminates its use of a business name.

(6) A business name registration becomes void when the Agency receives notice of termination of the use of a business name. A business name registration becomes void when no licensees are affiliated with the registered business name. A business name registration may be reactivated within one year from the voiding of a registration, unless a new user has registered the business name, without paying the fee set forth in ORS 696.270.

(7) No real estate property manager may engage in professional real estate activities under more than one registered business name. An exception to this requirement is that a real estate property manager may engage in the management of rental real estate under more than one registered business name if the business entity is an affiliated or subsidiary organization as described in OAR 863-024-0061.

(8) If a principal broker or property manager wishes to conduct real estate business in the licensee's legal name, the principal broker or property manager must first register the principal broker's licensed name or property manager's licensed name with the Agency using an online application process available through the Agency's website.

(9) To register a principal broker's licensed name or property manager's licensed name, the principal broker or property manager must submit to the Agency using an online application, the following:

(a) The licensee's licensed name.

(b) The fee authorized by ORS 696.270.

(c) Authorization from the principal broker or property manager who is responsible for the principal broker's licensed name or property manager's licensed name on record with the Agency to use the name.

(10) Principal broker licensed name and property manager licensed name registrations do not expire and need not be renewed by the licensee. Any change in the principal broker's licensed name or property manager's licensed name registration with the Agency will be treated as the registration of a new business name, and an application for the change in business name must be submitted to the Agency together with the fee authorized in ORS 696.270.

(11) A principal broker's licensed name or property manager's licensed name registration becomes void when the Agency receives notice of termination.

(12) Except as provided in OAR 863-014-0085 and this section, no real estate broker, principal broker or property manager may engage in professional real estate activities under more than one registered business name, principal broker's licensed name registration or property manager's licensed name registration. A principal broker or property manager may engage in professional real estate activities under more than one registered business name, principal broker's licensed name registration or property manager's licensed name registration, if the business entity is an affiliated or subsidiary organization as described in OAR 863-014-0061.

Notes

Or. Admin. Code § 863-024-0095

REA 7-2008, f. 12-15-08, cert. ef. 1-1-09; REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11; REA 6-2011, f. 8-15-11, cert. ef. 9-1-11; REA 7-2011, f. & cert. ef. 11-15-11; REA 5-2014, f. 4-14-14, cert. ef. 4-28-14

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.026