Or. Admin. Code § 441-930-0010
Current through Register Vol. 63, No. 10, October 1, 2024
Section 441-930-0010 - DefinitionsIn addition to the definitions in ORS 97.010 and 97.923, the following definitions apply to OAR 441-930-0010 to 441-930-0360:
(1) "Applicant" means an entity applying to the director for a certification concerning prearrangement plans or for a registration to serve as a master trustee.(2) "Director" means the Director of the Department of Consumer and Business Services.(3) "Limited Operations Certified Provider" means a certified provider responsible for administering 10 or fewer prearrangement or preconstruction sales contracts which have a cumulative value of less than $20,000.(4) "Registrant" means an entity holding a registration for a master trustee, issued by the director.(5) "Trust Agreement" means any agreement governing a trust fund established to receive the proceeds of a prearrangement or preconstruction plan and administered by a registered master trustee.(6) "Trust fund balance" means the total of all prearrangement or preconstruction contract payments provided through certified providers, installment payments, plus the earnings of the trust fund through investments. Both deposits and accumulated earnings become part of the principal of the trust fund for the subsequent year.(7) "Unconscionable tactics" include, but are not limited to, actions by which a person: (a) Knowingly takes advantage of a customer's physical infirmity, ignorance, illiteracy or inability to understand the language of the agreement; or(b) Knowingly permits a customer to enter into a transaction from which the customer will derive no material benefit.Or. Admin. Code § 441-930-0010
DO 1-2002, f. & cert. ef. 1-10-02; Renumbered from 440-300-0010; FCS 3-2004, f. & cert. ef. 9-30-04; FCS 2-2006, f. & cert. ef. 2-22-06; FCS 5-2007, f. 10-11-07, cert. ef. 1-1-08; FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11; FCS 6-2012, f. & cert. ef. 11-9-12Stat. Auth.: ORS 97.926
Stats. Implemented: ORS 97.926