Or. Admin. R. 863-014-0003

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

Section 863-014-0003 - Definitions

As used in this division, unless the context requires otherwise, the following definitions apply:

(1) "Agency" means the Real Estate Agency with powers pursuant to ORS 696.385.

(2) "Agency-approved form" means an electronic or paper form approved by the Real Estate Agency.

(3) "Board" means the Real Estate Board established pursuant to ORS 696.405.

(4) "Branch office" is defined in ORS 696.010.

(5) "Commissioner" means the Real Estate Commissioner described in ORS 696.375.

(6) "Incapacitated" means the physical or mental inability to perform the professional real estate activities described in ORS 696.010.

(7) "Legal name" means the first name, middle name and last or surname, without the use of initials or nicknames and is the name given at birth or subsequently acquired through marriage, court order or adoption.

(8) "Licensed Name" means the name of a real estate licensee as it appears on the current, valid real estate license issued to the licensee pursuant to ORS 696.020.

(9) "Principal broker" means "principal real estate broker," as defined in ORS 696.010.

(10) "Principal Broker Licensed Name" means the licensed name of a principal broker under which the licensee will conduct professional real estate activity. The principal broker's licensed name must be the principal broker's legal name as displayed on the licensee's license.

(11) "Real estate activity," "professional real estate activity," and "real estate business" mean "professional real estate activity" as defined in ORS 696.010.

(12) "Real estate broker" is defined in ORS 696.010 and includes a principal real estate broker, as that term is defined in ORS 696.010, unless the context requires otherwise.

(13) "Real estate licensee" and "licensee" mean a "real estate licensee" as defined in ORS 696.010, unless the context requires otherwise.

(14) "Registered business name" is defined in ORS 696.010.

(15) "Signed" or "Signature" means original or electronic signature as provided by OAR 863-014-0076.

Or. Admin. R. 863-014-0003

REA 5-2008, f. 12-15-08, cert. ef. 1-1-09; REA 1-2009, f. 12-15-09, cert. ef. 1-1-10; REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11; REA 6-2011, f. 8-15-11, cert. ef. 9-1-11; REA 7-2011, f. & cert. ef. 11-15-11; REA 4-2014, f. 4-14-14, cert. ef. 4-28-14

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.020 & 696.022