Oregon Statutes 83.811 – Exemption from certain disclosure requirements for motor vehicle dealer or retail seller
(1) The disclosure provisions of ORS § 83.010 to 83.680 and 83.990 shall not apply to any motor vehicle dealer or retail seller entering into a retail installment transaction when:
Terms Used In Oregon Statutes 83.811
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
(a) The motor vehicle dealer or retail seller regularly enters into retail installment transactions; and
(b) The terms of the retail installment transaction provide for payment of a service charge or finance charge or for payment by written agreement in more than four installments.
(2) A motor vehicle dealer or retail seller regularly enters into retail installment transactions only if the motor vehicle dealer or retail seller entered into retail installment transactions more than 25 times in the preceding calendar year, or more than five times in the preceding calendar year for retail installment transactions secured by a dwelling. If a motor vehicle dealer or retail seller does not meet these numerical standards in the preceding calendar year, the numerical standards shall be applied to the current calendar year. [1991 c.296 § 1; 1999 c.240 § 2; 2001 c.117 § 13]
83.811 and 83.813 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS Chapter 83 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.