Chapter 225
AN ACT
SB 168
Relating to escrow agent licenses; amending ORS 696.530.
Be It Enacted by the People of
the State of
SECTION 1. ORS 696.530 is amended to read:
696.530. (1) The license of an escrow agent expires June 30 next after
the date of issuance if it is not renewed by July 1 of such year. A license may
be renewed by filing a renewal application in writing, verified by the
applicant and in the form prescribed by the Real Estate Commissioner, and
paying the annual license fee for the next succeeding fiscal year.
(2) The filing fees are:
(a) For filing an
original or a renewal application, $300 for the main office and $150 for each
branch office.
(b) For filing an
application for a duplicate copy of a license, upon satisfactory showing of
loss of the license, the sum of $20.
(c) For a name change or
a change of address of an escrow agent, $10 for the main office plus $10 for
each affected branch office.
(3) The commissioner,
by rule, may provide an opportunity for the late renewal of an expired escrow
agent license by an applicant who fails to renew the license by July 1 as
required in subsection (1) of this section.
Approved by the Governor May 30, 2007
Filed in the office of Secretary of State May 31, 2007
Effective date January 1, 2008
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