Oregon Statutes 446.741 – Suspension, revocation or cancellation of license; dealer probation; employment disqualification
(1) The Director of the Department of Consumer and Business Services may revoke or suspend a manufactured structure dealer license, or place a dealer on probation, if the dealer does any of the following:
Terms Used In Oregon Statutes 446.741
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
(a) Commits an act that is grounds for suspension, revocation or probation under rules the director adopted.
(b) Fails to comply with the requirements for notices or reports of the transfer of interest in manufactured structures.
(c) Moves a manufactured structure or causes a manufactured structure to be moved without complying with the requirements for variance permits under ORS § 818.200 and trip permits under ORS § 446.631.
(d) Knowingly provides false information on an application for a dealer license, supplemental license or corrected dealer license.
(e) Deals in a manufactured structure that both before and after the sale is assessed as real property under ORS § 308.875 or is recorded in the deed records of a county. This paragraph does not apply if an ownership document is issued for the manufactured structure prior to sale.
(f) Employs a person in an administrative or managerial capacity while the person is disqualified under subsection (5) of this section.
(g) Fails, in conducting activities of a mortgage loan originator, to comply with the provisions of:
(A) The Truth in Lending Act, 15 U.S.C. § 1601 et seq., and Regulation Z, 12 C.F.R. part 1026, as in effect on October 1, 2013;
(B) The Real Estate Settlement Procedures Act, 12 U.S.C. § 2601 et seq., and Regulation X, 12 C.F.R. part 1024, as in effect on January 1, 2013;
(C) The Equal Credit Opportunity Act, 15 U.S.C. § 1691 et seq., and Regulation B, 12 C.F.R. part 1002, as in effect on January 1, 2013; or
(D) The S.A.F.E. Mortgage Licensing Act, 12 U.S.C. § 5101 et seq., and Regulation H, 12 C.F.R. part 1008, as in effect on January 1, 2013.
(h) Fails to certify to the director in a form and manner the director specifies by rule that the dealer has independently verified that every individual the dealer hired or intends to hire as a mortgage loan originator meets the requirements set forth in ORS § 86A.200 to 86A.239 and ORS § 86A.186.
(i) Employs a device, scheme or artifice to defraud or engage in an act, practice or course of business that operates or would operate as a fraud or deceit.
(j) Knowingly makes an untrue statement of a material fact or omits from a statement a material fact that would make the statement not misleading in light of the circumstances under which the dealer makes the statement.
(k) Makes or files or causes to be made or filed with the director a statement, report or document that the dealer knows is false in a material respect or matter.
(2) The director shall cancel a manufactured structure dealer license immediately upon receipt of legal notice that a bond described under ORS § 446.726 or under ORS § 86A.227 is canceled.
(3) Upon suspension, revocation or cancellation of a manufactured structure dealer license under this section, the director shall demand the return of the license.
(4) The director shall cancel a dealer license or supplemental license immediately upon receipt of notice that zoning approval for a place of business has been revoked.
(5) If the director finds that a violation of subsection (1)(d), (i), (j) or (k) of this section has occurred, the director may issue an order under ORS Chapter 183 disqualifying, for up to seven years after the date that the disqualification becomes effective:
(a) The dealer whose license is revoked from:
(A) Obtaining a license as a manufactured structure dealer; or
(B) Working in an administrative or managerial capacity for a manufactured structure dealer.
(b) Any other person whose acts or omissions were material to the events that were the basis for the violation from working in an administrative or managerial capacity for a manufactured structure dealer.
(6) If a person who is subject to disqualification or who is disqualified under subsection (5) of this section elects to pay restitution to a customer whom the director finds suffered harm as a result of the violation of subsection (1)(d), (i), (j) or (k) of this section, the director may choose not to issue an order of disqualification to the person or may rescind a previously issued order of disqualification.
(7) A person who applies for licensing as a manufactured structure dealer following a period of disqualification under subsection (5) of this section must meet the requirements for issuance of an initial manufactured structure dealer license. [2003 c.655 § 38; 2009 c.863 § 32; 2013 c.161 § 1]
See note under 446.661.