74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 355
 
                         Senate Bill 168
 
Printed pursuant to Senate Interim Rule 213.28 by order of the
  President of the Senate in conformance with presession filing
  rules, indicating neither advocacy nor opposition on the part
  of the President (at the request of Governor Theodore R.
  Kulongoski for Real Estate Agency, Office of Regulatory
  Streamlining of Department of Consumer and Business Services)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Authorizes Real Estate Commissioner to allow late renewal of
expired escrow agent license.
 
                        A BILL FOR AN ACT
Relating to escrow agent licenses; amending ORS 696.530.
Be It Enacted by the People of the State of Oregon:
  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. + }
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