(2) A licensee shall notify the Director of the Department of Consumer and Business Services of any defalcation that occurs at any office of the licensee within five days after the discovery of the defalcation. When directed by the director to do so, the licensee shall cause an audit to be made of the business of the licensed office where the defalcation occurred, in accordance with the director’s instructions. [1979 c.88 §38; 1987 c.650 §18]
Structure 2021 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 725 - Consumer Finance
Section 725.010 - Definitions.
Section 725.050 - Prohibited transactions.
Section 725.120 - Application for license; annual fee.
Section 725.140 - Issuance of license; conditions.
Section 725.145 - Disapproval of application for license.
Section 725.185 - License fees; fees for extra service.
Section 725.190 - Report of licensee; penalty for failure to report.
Section 725.220 - Change of place of business.
Section 725.230 - Revocation and suspension of licenses.
Section 725.235 - Procedure for license denial, revocation or suspension.
Section 725.250 - Surrender of license.
Section 725.310 - Investigation and examination by director.
Section 725.312 - Inspection and examination of licensees.
Section 725.340 - Interest and other charges.
Section 725.345 - Open-end loan plan; interest; security for plan; necessary disclosures.
Section 725.347 - Open-end credit card plan authorized.
Section 725.355 - Prohibition against assignment of earnings for loan security.
Section 725.360 - Licensee duty toward borrowers.
Section 725.385 - Duty to give notice of defalcation to law enforcement officer, director; audit.
Section 725.400 - Cease and desist order.