{"data":{"id":"us-or/ors-725.045","jurisdiction":"us-or","citation":"ORS 725.045","heading":"Prohibition on making certain consumer finance loans without license; application of license requirement.","body":"(1)(a) Except as provided in ORS 82.010, 82.020 and 82.025 and subject to paragraph (b) of this subsection, a person may not conduct a business in which the person makes a consumer finance loan of $50,000 or less or acts as an agent, broker or facilitator for a person that makes a consumer finance loan of $50,000 or less unless the person first obtains a license under this chapter.\n      (b) If at the time a person made a consumer finance loan of $50,000 or less the person did not have a license that the Director of the Department of Consumer and Business Services issued under this chapter, the consumer finance loan is void, and the person, or a successor, assignee or affiliate of the person, may not deposit a borrower’s or consumer’s check, withdraw moneys from a borrower’s or consumer’s account or otherwise collect, receive or retain principal, interest, a fee or a charge related to or in connection with the consumer finance loan.\n      (2) This section does not apply to a person that does not collect a fee or consideration in connection with a consumer finance loan or an application for a consumer finance loan and that:\n      (a) Does not interact directly with a borrower or consumer;\n      (b) Acts solely as an intermediary between the borrower or consumer and a lender or a person that conducts business as a broker or facilitator for a consumer finance loan;\n      (c) Transmits information, electronically or otherwise, concerning the borrower or consumer to a lender or a person that conducts business as a broker or facilitator for a consumer finance loan; or\n      (d) Prepares, issues or delivers a negotiable instrument to a lender or a person that conducts business as a broker or facilitator for a consumer finance loan for subsequent delivery to a borrower or consumer.\n      (3) A person may collect principal, interest, a fee or a charge related to or in connection with a consumer finance loan if the license the director issued under this chapter lapsed inadvertently or by mistake.","path":["18 - Financial Institutions, Insurance","54. Credit Unions, Lending Institutions and Pawnbrokers","Chapter 725 — Consumer Finance"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors725.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:17Z","sha256":"203b44c87013681cf080e539bb50c677fc2a7bd1836a00ebb877f2fd17770f0d","source_id":"us-or","stale":false,"prev":"us-or/ors-725.041","next":"us-or/ors-725.050"},"notice":"GroundRules: Original legal text. Not legal advice."}