(1) The Real Estate Commissioner shall have general supervision and control over all escrow agents doing business in this state. Subject to ORS Chapter 183, the commissioner may adopt such rules as reasonably necessary for the administration and enforcement of ORS § 696.505 to 696.590.

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(2) All escrow agents are subject to audits or examinations by the commissioner, or the commissioner’s authorized representatives at any time the commissioner considers advisable. The commissioner may collect from each escrow agent the reasonable expenses of such audit or examination including but not limited to any administrative expense for travel.

(3) The provisions of this section and of any other section relating to the examination of the affairs of an escrow agent shall extend to an escrow agent whose license has expired or been revoked or suspended, if in the judgment of the commissioner, such agent has violated any provisions of ORS § 696.505 to 696.590. [1977 c.351 § 12 (enacted in lieu of 696.540); 1981 c.617 § 27; 1985 c.399 § 4; 1991 c.874 § 7; 2001 c.300 § 39; 2003 c.427 § 11]

(Enforcement)