{"data":{"id":"us-or/ors-725a.026","jurisdiction":"us-or","citation":"ORS 725A.026","heading":"Grounds for disapproving license application.","body":"(1) The Director of the Department of Consumer and Business Services may disapprove an application submitted under ORS 725A.022 and deny a license to the applicant if a person named in the application:\n      (a) Cannot meet financial obligations as the obligations mature, has liabilities that exceed assets or is in a financial condition that prevents the person from conducting business with safety to consumers;\n      (b) Engaged in dishonest, fraudulent or illegal practices or conduct in a business or profession;\n      (c) Failed to comply with or knowingly or repeatedly violated a provision of or a rule adopted under the Bank Act, ORS chapter 723, 725 or 726 or ORS 725A.010 to 725A.092 and 725A.990;\n      (d) Was convicted of a crime, an essential element of which is fraud;\n      (e) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing a practice or conduct in connection with making payday loans, title loans or consumer loans; or\n      (f) Is subject to an order in which:\n      (A) The director imposed a fine or other civil penalty on the person under the Bank Act, ORS chapter 723, 725 or 726 or ORS 725A.010 to 725A.092 and 725A.990;\n      (B) The director removed the person from an office in an entity regulated under the Bank Act, ORS chapter 723 or 725 or ORS 725A.010 to 725A.092 and 725A.990; or\n      (C) A state or federal agency with authority over banking institutions, savings associations, credit unions or consumer finance companies, within a five-year period before the applicant submitted an application under ORS 725A.022:\n      (i) Imposed a fine or other civil penalty on the person; or\n      (ii) Removed the person from an office in a state banking institution, a national bank, a state or federal savings association, a state or federal credit union or a consumer finance company.\n      (2) If the director denies a license to an applicant under this section, the director shall provide the applicant with a reasonable opportunity for a hearing under ORS chapter 183.","path":["18 - Financial Institutions, Insurance","54. Credit Unions, Lending Institutions and Pawnbrokers","Chapter 725A — Short-Term Loans and Student Loan Servicing"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors725A.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:17Z","sha256":"8b738bf9270e2b738b5e3106fadf41e2292f9a034b53ff1f8a0bcb4209694a0f","source_id":"us-or","stale":false,"prev":"us-or/ors-725a.024","next":"us-or/ors-725a.028"},"notice":"GroundRules: Original legal text. Not legal advice."}