Oregon Statutes 180.489 – Quarterly escrow deposits; rules
(1) To promote compliance with the provisions of ORS § 180.471, 180.474, 180.477, 180.480, 180.483 and 180.486, the Attorney General may adopt rules requiring a nonparticipating manufacturer to make the escrow deposits required by ORS § 323.816 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 180.489
- 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 § 180.471, 180.474, 180.477, 180.480, 180.483, 180.486 and 323.816 may make escrow deposits required by ORS § 323.816 in annual payments during the second and subsequent years in which deposits are required. [2009 c.717 § 14]