Section 697.500 - Definitions for ORS 697.500 to 697.555 As used in ORS 697.500 to 697.555:
(1)(a) "Check-cashing business" means a person that conducts a business that for a fee, service charge or other consideration provides money, credit or any other thing of value in exchange for payment instruments.(b) "Check-cashing business" does not include a financial institution as defined in ORS 706.008 or an employee of a licensee.(2) "Licensee" means a person licensed as a check-cashing business under ORS 697.514.(3) "Nationwide Multistate Licensing System" means a system that the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, or assigns of the Conference of State Bank Supervisors or the American Association of Residential Mortgage Regulators, develop and maintain for participating state agencies to use in licensing and registering mortgage loan originators and other persons that provide nondepository financial services.(4) "Payment instrument" means: (a) A check, warrant or draft issued by the federal government, a state government, a county or municipal government, or a federal or state agency;(c) A personal check, money order or any other check.Amended by 2015 Ch. 118, § 1, eff. 5/20/2015, op. 8/19/2015.