2013 ORS § 725.045¹
Prohibition on making certain consumer finance loans without license
  • application of license requirement

(1) Except as provided in ORS 82.010 (Legal rate of interest), 82.020 (Computation of interest) and 82.025 (Exemptions from application of ORS 82.010 (3) and (4) and 82.020), a person may not conduct a business in which the person makes a consumer finance loan of $50,000 or less or acts as an agent, broker or facilitator for a person that makes a consumer finance loan of $50,000 or less unless the person first obtains a license under this chapter.

(2) This section does not apply to a person that does not collect a fee or consideration in connection with a consumer finance loan or an application for a consumer finance loan and that:

(a) Does not interact directly with a borrower or consumer;

(b) Acts solely as an intermediary between the borrower or consumer and a lender or a person that conducts business as a broker or facilitator for a consumer finance loan;

(c) Transmits information, electronically or otherwise, concerning the borrower or consumer to a lender or a person that conducts business as a broker or facilitator for a consumer finance loan; or

(d) Prepares, issues or delivers a negotiable instrument to a lender or a person that conducts business as a broker or facilitator for a consumer finance loan for subsequent delivery to a borrower or consumer. [1989 c.424 §2; 2007 c.603 §2; 2010 c.23 §31]