Oregon Statutes 697.500 – Definitions for ORS 697.500 to 697.555
As used in ORS § 697.500 to 697.555:
Terms Used In Oregon Statutes 697.500
- 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
- state government: means the executive department, the judicial department and the legislative department. See Oregon Statutes 174.111
(1)(a) ‘Check-cashing business’ means a person that conducts a business that for a fee, service charge or other consideration provides money, credit or any other thing of value in exchange for payment instruments.
(b) ‘Check-cashing business’ does not include a financial institution as defined in ORS § 706.008 or an employee of a licensee.
(2) ‘Licensee’ means a person licensed as a check-cashing business under ORS § 697.514.
(3) ‘Nationwide Multistate Licensing System’ means a system that the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, or assigns of the Conference of State Bank Supervisors or the American Association of Residential Mortgage Regulators, develop and maintain for participating state agencies to use in licensing and registering mortgage loan originators and other persons that provide nondepository financial services.
(4) ‘Payment instrument’ means:
(a) A check, warrant or draft issued by the federal government, a state government, a county or municipal government, or a federal or state agency;
(b) A payroll check; or
(c) A personal check, money order or any other check. [2007 c.358 § 1; 2015 c.118 § 1]