2017 ORS 697.063¹
Status of business records and bank accounts following revocation of registration
  • liquidation
  • expenses and attorney fees

(1) When the Director of the Department of Consumer and Business Services revokes a registration, the director may take possession of all business records and all bank accounts of the registrant and retain possession of them pending the further proceedings specified in this section. The director shall inventory all the business records and all bank accounts of the registrant. The director shall file one copy of the inventory in the office of the director and one copy in the office of the clerk of the circuit court of the county in which the principal place of business of the registrant is located and shall mail one copy to each shareholder or partner of the registrant at the last-known address of the shareholder or partner. The clerk of the court shall file the inventory as a pending proceeding and give it a case number. The director by rule may delegate the director’s authority under this section relating to the inventory of business records and bank accounts of a registrant.

(2) If any person refuses to permit the director to take possession of business records and bank accounts under subsection (1) of this section, the director may apply to the circuit court of the county in which the principal place of business of the registrant is located for an order appointing a receiver, who may be the director, to take possession.

(3) The business records and bank accounts of the registrant shall be liquidated. If a receiver has not been appointed, the director shall apply for appointment by the court in which the inventory was filed. The liquidation shall proceed as provided by law for liquidation of a private corporation in receivership.

(4) The expenses of the receiver and attorney fees, as well as all expenditures required in the liquidation proceedings, shall be fixed by the director, subject to the approval of the court, and, upon certification by the director, shall be paid out of the funds in the hands of the director as such receiver. [1995 c.622 §6; 2003 c.576 §218]

Notes of Decisions

Holder of license issued pursuant to these sec­tions who voluntarily surrenders it to the issuing authority with the inten­tion of abandoning it is in the same posi­tion as a new applicant who seeks the right to engage in the ac­tivity for which the license is re­quired. State ex rel Black v. American Recovery, Ltd., 12 Or App 139, 505 P2d 1166 (1973)

Collec­tion agencies which solicit and collect claims of third parties upon contingent fee basis are not involved in unauthorized practice of law. Messmer v. Carter/Bonded Credit Company, 282 Or 323, 578 P2d 788 (1978)

Atty. Gen. Opinions

Applica­tion to out-of-state businesses whose only contact with Oregon debtors is through telephonic or mail communica­tion, (1980) Vol 40, p 358

Chapter 697

Atty. Gen. Opinions

Duty of merchant using third party letterhead purchased from collec­tion letter service to obtain license, (1972) Vol 36, p 79

1 Legislative Counsel Committee, CHAPTER 697—Cashing Businesses; Debt Management Service Providers, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors697.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 697, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano697.­html (2017) (last ac­cessed Mar. 30, 2018).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.