(2) A licensee may conduct business in this state at one or more locations that the licensee owns directly or indirectly, through one or more authorized delegates, or both. A licensee is required to obtain only one license under ORS 717.200 to 717.320, 717.900 and 717.905.
(3) Conducting a money transmission business does not alone constitute banking or branch banking for the purposes of the Bank Act.
(4) The director has jurisdiction over a person that conducts a money transmission business whether or not the person is a licensee or authorized delegate.
(5) The director, consistent with the requirements of ORS 717.200 to 717.320, 717.900 and 717.905, may administer a program to issue and renew licenses for money-transmission businesses by means of an agreement with the Nationwide Multistate Licensing System. [1999 c.571 §3; 2015 c.118 §7]
Structure 2021 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 717 - Money Transmission
Section 717.200 - Definitions.
Section 717.210 - Exemptions; waiver; rules.
Section 717.215 - Requirements for licensees; net worth; permissible investments.
Section 717.220 - License application; rules.
Section 717.225 - Security devices.
Section 717.235 - License issuance; grounds for disapproval of application; appeals.
Section 717.240 - License renewal; annual fee; renewal report; rules.
Section 717.245 - Events requiring filing of report with director.
Section 717.250 - Notice of change or acquisition of control of licensee; waiver; rules.
Section 717.255 - Examination of licensee; notice; costs.
Section 717.260 - Retention of records.
Section 717.265 - Suspension or revocation of license; appeals.
Section 717.270 - Conduct of money transmission business through authorized delegates; contracts.
Section 717.275 - Requirements for authorized delegates.
Section 717.280 - Order suspending or barring authorized delegate; grounds; appeals.
Section 717.285 - Limit on responsibility of licensee; costs and attorney fees.
Section 717.290 - Cease and desist order; appeals.
Section 717.295 - Injunctions; consent orders.
Section 717.300 - Subpoena authority.
Section 717.305 - Consent to jurisdiction of courts; director as agent for service of process.