ORS 717.205: License required to conduct money transmission business; relationship to banking; licensing program.

(1) A person, other than a person that is exempt under ORS 717.210, may not conduct a money transmission business without a license that the Director of the Department of Consumer and Business Services issues in accordance with ORS 717.200 to 717.320, 717.900 and 717.905.

      (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.