2021 Oregon Revised Statutes
Chapter 725A - Short-Term Loans and Student Loan Servicing
Section 725A.038 - License surrender.


(2)(a) A licensee shall surrender a license under which no material loan activity has occurred for a period of 12 consecutive months.
(b) For purposes of this subsection, "material loan activity" includes a new loan, a loan that refinances an existing loan or a formal extension of existing loan repayment provisions for more than 30 days.
(3) A licensee’s surrendering a license under subsection (1) or (2) of this section does not affect the licensee’s civil or criminal liability for acts the licensee committed before surrendering the license. [2010 c.23 §12]

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Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 18 - Financial Institutions, Insurance

Chapter 725A - Short-Term Loans and Student Loan Servicing

Section 725A.010 - Definitions.

Section 725A.012 - Application.

Section 725A.020 - Licensing requirement.

Section 725A.022 - License application; contents; fee; rules.

Section 725A.024 - License application approval; license issuance; applicant qualifications; license denial; term of license; rules.

Section 725A.026 - Grounds for disapproving license application.

Section 725A.028 - License fee; other fees; rules.

Section 725A.030 - Annual report; contents; penalty; rules.

Section 725A.032 - Business name and location.

Section 725A.034 - License revocation and suspension.

Section 725A.036 - License reinstatement; fee.

Section 725A.038 - License surrender.

Section 725A.050 - Director’s power to examine or investigate; costs.

Section 725A.054 - Duty to report defalcation; audit.

Section 725A.056 - Loan disclosure requirements; receipt; procedure after full loan repayment.

Section 725A.060 - Prohibited conduct generally.

Section 725A.062 - Prohibited conduct for title loan lender.

Section 725A.064 - Prohibited conduct for payday loan lender.

Section 725A.080 - Complaint and administrative remedy.

Section 725A.082 - Cease and desist order.

Section 725A.084 - Suspension or removal of officer or director of licensee.

Section 725A.090 - Loan tracking and counseling system; rules; fees.

Section 725A.092 - Rules.

Section 725A.500 - Definitions.

Section 725A.503 - Prohibition on servicing student loan without license; exceptions; powers of Director of Department of Consumer and Business Services; rules.

Section 725A.506 - Application for licensing; required contents; fee; bonding; power of director to issue, deny, revoke or refuse to renew license; date of expiration; rules.

Section 725A.509 - Duties of licensee; assumed business name.

Section 725A.512 - Requirement to maintain liquidity, operating reserves and tangible net worth; taking possession of licensee’s property for failure to meet requirement; appointment of receiver.

Section 725A.515 - Required notifications from licensee to director.

Section 725A.518 - Supervisory powers of director; examination of licensee; charge for costs of examination; multistate cooperation; rules.

Section 725A.521 - Required practices under federal student loan agreement; prohibitions; exemptions.

Section 725A.524 - Investigation of complaints; confidentiality of materials obtained in investigation; exceptions; charge for costs of investigation.

Section 725A.527 - Violations; orders of director; remedies; civil penalties; charge for costs of proceeding.

Section 725A.530 - Ombudsman; duties; report to Legislative Assembly.

Section 725A.990 - Penalties.