§ 725.310 — Investigation and examination by director

Oregon § 725.310

• Jurisdiction: Oregon
• Vol.: 18
• Title 54: Credit Unions, Lending Institutions and Pawnbrokers
• Ch. 725: Consumer Finance

Text

(1) For discovering violations of this chapter and securing information required by the Director of the Department of Consumer and Business Services under this chapter, the director at any time may investigate the loans and business, including the books, accounts, records and files used in the loans and business, of every person licensed or required to be licensed under this chapter.
(2) For purposes of subsection (1) of this section:
(a) A person licensed or required to be licensed under this chapter shall give the director free access to the person’s place of business, books, accounts, safes and vaults.
(b) The director may:
(A) Make an investigation without prior notice to the person being investigated.
(B) Compel the attendance of witnesses and examine the witnesses under oath.
(C) Require the production of documents or records.
(3) Each person examined under this section shall pay the actual cost of an investigation to the director. The director may maintain an action for the recovery of the costs in any court of competent jurisdiction.

Legislative History

Amended by 1955 c.71 §12; 1973 c.428 §3; 1981 c.412 §14; 1985 c.762 §127; 1987 c.215 §15; 1999 c.469 §6; 2005 c.338 §24