Or. Admin. R. 863-014-0061

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

Section 863-014-0061 - Affiliated and Subsidiary Organizations

(1) Affiliated organizations are two or more organizations whose controlling ownership interests are owned by the same licensee, licensees, entity, or entities.

(2) A subsidiary organization is one in which the majority of the voting stock or controlling ownership interest is owned by another organization.

(3) Affiliated or subsidiary business organizations may use the same principal broker, provided that the individual registering the business name submits proof satisfactory to the commissioner that the principal real estate broker or brokers involved actually manages and controls each affiliated and subsidiary organization.

(4) As used in this rule, controlling ownership interest(s) means owning 51 percent or more.

Or. Admin. R. 863-014-0061

REA 1-2005, f. 5-5-05, cert. ef. 5-6-05; Renumbered from 863-015-0061, REA 5-2008, f. 12-15-08, cert. ef. 1-1-09

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.020 & 696.022