Oregon § 696.243 Substituting copy for original canceled check allowed; electronic fund transfers

Oregon Statutes

§ 696.243 — Substituting copy for original canceled check allowed; electronic fund transfers

Oregon § 696.243

Vol.17

Title 52Occupations and Professions

Ch. 696Real Estate and Escrow Activities

This text of Oregon § 696.243 (Substituting copy for original canceled check allowed; electronic fund transfers) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 696.243 (2026).

Text

(1)Any principal real estate broker, licensed real estate property manager or escrow agent who is required by the Real Estate Commissioner to maintain the canceled checks used to disburse moneys from the real estate licensee’s clients’ trust account may substitute a copy of the original canceled check, if the copy is provided by a bank and is produced by optical imaging or other process that accurately reproduces the original or forms a durable medium for reproducing the original, and the copy is at least 300 dots per inch in quality.

(2)A principal real estate broker, licensed real estate property manager or escrow agent may use electronic fund transfers for the deposit into or for withdrawal from a clients’ trust account established under ORS 696.241 or 696.578, if the bank provides to

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(1) Any principal real estate broker, licensed real estate property manager or escrow agent who is required by the Real Estate Commissioner to maintain the canceled checks used to disburse moneys from the real estate licensee’s clients’ trust account may substitute a copy of the original canceled check, if the copy is provided by a bank and is produced by optical imaging or other process that accurately reproduces the original or forms a durable medium for reproducing the original, and the copy is at least 300 dots per inch in quality.
(2) A principal real estate broker, licensed real estate property manager or escrow agent may use electronic fund transfers for the deposit into or for withdrawal from a clients’ trust account established under ORS 696.241 or 696.578, if the bank provides to the real estate licensee an accurate paper record of the deposits and withdrawals.
(3) As used in subsection (2) of this section, “electronic fund transfer” has the meaning set forth in section 903 of the Electronic Transfer Act (P.L. 90-321, 15 U.S.C. 1693a).