Oregon Statutes 645.020 – Transactions exempt from prohibition
The prohibitions in ORS § 645.010 shall not apply to the following:
Terms Used In Oregon Statutes 645.020
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the Director of the Department of Consumer and Business Services or an agent or employee authorized to act on the director's behalf. See Oregon Statutes 645.005
- Financial institution: means an insured institution or trust company as those terms are defined in ORS § 706. See Oregon Statutes 645.005
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes an individual, a joint venture, a partnership, a cooperative, an association, a joint stock company, a corporation, a trust, an unincorporated organization, a government or a political subdivision of a government. See Oregon Statutes 645.005
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(1) An account, agreement or transaction within the exclusive jurisdiction of the federal Commodity Futures Trading Commission;
(2) A commodity contract for silver, gold, platinum, palladium, copper or other precious metal as defined by rule of the director whether in coin, bullion or other form if within seven days from the payment of any portion of the purchase price:
(a) The precious metals purchased are delivered to and held on the purchaser’s behalf at a depository not affiliated with the seller which is:
(A) A financial institution;
(B) A depository the warehouse receipts of which are recognized for delivery purposes for any commodity on a contract market designated by the federal Commodity Futures Trading Commission;
(C) A storage facility licensed or regulated by the United States or any agency thereof; or
(D) A depository designated by rule of the director; and
(b) Unless otherwise provided by rule of the director, the depository issues and the purchaser receives an instrument evidencing that such quantity of precious metals has been delivered to the depository on the purchaser’s behalf; and
(3) A commodity contract under which the offeree or the purchaser is a person referred to in ORS § 645.015, an insurance company or an investment company as defined in the federal Investment Company Act of 1940, as amended. [1987 c.148 § 6; 1989 c.179 § 3; 1997 c.249 § 195]