Oregon Statutes 180.445 – Quarterly escrow deposits; rules
(1) To promote compliance with the provisions of ORS § 180.410, 180.415, 180.420, 180.430, 180.435 and 180.440, the Attorney General may adopt rules requiring a nonparticipating manufacturer to make the escrow deposits required by ORS § 323.806 in quarterly installments during the year in which the sales covered by the deposits are made. The Attorney General may require a nonparticipating manufacturer to produce information sufficient to enable the Attorney General to determine the adequacy of the amount of the installment deposit.
Terms Used In Oregon Statutes 180.445
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
(2) If the Attorney General adopts rules requiring a nonparticipating manufacturer to make escrow deposits in quarterly installments, the rules may also provide that a nonparticipating manufacturer that has been in continuous compliance for one year with ORS § 180.410, 180.415, 180.420, 180.430, 180.435, 180.440 and 323.806 may make escrow deposits required by ORS § 323.806 in annual payments during the second and subsequent years in which deposits are required. [2003 c.801 § 9]
The amendments to 180.445 by section 13, chapter 401, Oregon Laws 2023, apply to certifications submitted on or after January 1, 2025. See section 16, chapter 401, Oregon Laws 2023. The text that applies to certifications submitted on or after January 1, 2025, is set forth for the user’s convenience.
(1) To promote compliance with the provisions of ORS § 180.410, 180.415, 180.420, 180.430, 180.435 and 180.440, the Attorney General may adopt rules requiring a nonparticipating manufacturer to make the escrow deposits or equity assessment payments required by ORS § 323.804 or 323.806 in quarterly installments during the year in which the sales covered by the deposits are made. The Attorney General may require a nonparticipating manufacturer to produce information sufficient to enable the Attorney General to determine the adequacy of the amount of the installment deposit or payment.
(2) If the Attorney General adopts rules requiring a nonparticipating manufacturer to make escrow deposits or payments in quarterly installments, the rules may also provide that a nonparticipating manufacturer that has been in continuous compliance for one year with ORS § 180.410, 180.415, 180.420, 180.430, 180.435, 180.440, 323.804 and 323.806 may make escrow deposits or payments required by ORS § 323.804 or 323.806 in annual payments during the second and subsequent years in which deposits are required.
See note under 180.400.