§ 706.578 — Establishment of loan production office; notice; fee

Oregon § 706.578

• Jurisdiction: Oregon
• Vol.: 18
• Title 53: Financial Institutions
• Ch. 706: Administration and Enforcement of Banking Laws Generally

Text

(1) An insured institution or extranational institution shall file a notice with the Director of the Department of Consumer and Business Services and pay a nonrefundable fee of $100 within 30 days after establishing a loan production office in this state. The notice must include:
(a) The name of the insured institution or extranational institution and the address of the main office;
(b) The name and address of the loan production office; and
(c) The name and address of the officer of the insured institution or extranational institution who is responsible for loan production office activities.
(2) An insured institution or extranational institution shall file a notice under subsection (1) of this section for each loan production office the insured institution or extranational institution establishes in this state.
(3) An insured institution or extranational institution shall amend a notice the insured institution or extranational institution filed under subsection (1) of this section if a material change occurs in the information in the original notice. An amendment to a notice is not subject to a fee.
(4) An insured institution or extranational institution shall notify the director if the insured institution or extranational institution closes a loan production office in this state, specifying the date of closure and describing how the insured institution or extranational institution will dispose of any records the insured institution or extranational institution maintained at the loan production office. A notice under this subsection is not subject to a fee.

Legislative History

2015 c.244 §4