Or. Admin. R. 441-870-0060

Current through Register Vol. 63, No. 6, June 1, 2024

Section 441-870-0060 - Delivery of Additional Documentation

"Manipulative, Deceptive, or Fraudulent Device or Contri?vance" and "Fraudu?lent, Deceptive, or Manipulative Act or Prac?tice" are defined to include:

(1) Failure to deliver to the purchaser or licensed escrow agent or title company the written evidence of the obligation, properly endorsed, together with the instrument creating the lien; and

(2) Failure to record the instrument creating the lien or assign?ment of the lien in a timely manner in the county or counties where the property is located and retain a copy of the recorded instrument in the customer file maintained by the licensee.

(3) The provisions of section (2) of this rule do not apply when the purchaser is an institutional investor as enumerated in ORS 59.035(4) or an accredited investor as enumerated in 59.035(5) provided the accredited investor has submitted an unsolicited written request that the instrument creating the lien or the assignment of the lien not be filed in the county or counties where the property is located.

Or. Admin. R. 441-870-0060

FCS 3-1993, f. & cert. ef. 11-15-93; FCS 11-1994, f. 11-4-94, cert. ef. 11-15-94

Stat. Auth.: ORS 86A.136

Stats. Implemented: ORS 86A.115