Oregon § 725.250 Surrender of license

Oregon Statutes

§ 725.250 — Surrender of license

Oregon § 725.250

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 725Consumer Finance

This text of Oregon § 725.250 (Surrender of license) 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. § 725.250 (2026).

Text

(1)Any licensee may surrender any license issued to the licensee by delivering written notice to the Director of the Department of Consumer and Business Services that the licensee thereby surrenders the license.

(2)(a) A licensee shall surrender any license issued to the licensee under which there has been no material loan activity for a period of 12 consecutive months.

(b)For purposes of this subsection, “material loan activity” includes new loans, refinancing of existing loans or formal extensions of existing loan repayment provisions in excess of 30 days.

(3)Surrender of a license under subsection (1) or (2) of this section shall not affect the licensee’s civil or criminal liability for acts committed prior to surrender.

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(1) Any licensee may surrender any license issued to the licensee by delivering written notice to the Director of the Department of Consumer and Business Services that the licensee thereby surrenders the license.
(2)(a) A licensee shall surrender any license issued to the licensee under which there has been no material loan activity for a period of 12 consecutive months.
(b) For purposes of this subsection, “material loan activity” includes new loans, refinancing of existing loans or formal extensions of existing loan repayment provisions in excess of 30 days.
(3) Surrender of a license under subsection (1) or (2) of this section shall not affect the licensee’s civil or criminal liability for acts committed prior to surrender.