2017 ORS 717.240¹
License renewal
  • annual fee
  • renewal report
  • rules

(1)(a) To renew a license, each licensee shall pay to the Director of the Department of Consumer and Business Services a nonrefundable annual fee of $500 or a fee that the director sets by rule in an amount that does not exceed $1,000.

(b) In addition to paying the fee described in paragraph (a) of this subsection, a licensee shall provide information necessary for the director to evaluate the licensee’s renewal application. The director shall prescribe the information required by rule. The director may require a licensee to renew a license under the terms of the director’s agreement with the Nationwide Multistate Licensing System.

(2) At the time the licensee pays the renewal fee, the licensee shall submit an annual report on a date and in a form and format the director prescribes by rule. The annual report must describe the condition and operations of the money transmission business during the preceding calendar year and must include:

(a) A copy of the licensee’s most recent audited consolidated annual financial statement, including a balance sheet, statement of income or loss, statement of changes in shareholder equity and statement of changes in financial position. In the case of a licensee that is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee’s audited annual financial statement.

(b) For the most recent quarter for which data are available before the date of the renewal application, but not more than 120 days before the renewal date, a description of the number of payment instruments the licensee sold in this state, the dollar amount of the payment instruments and the dollar amount of payment instruments currently outstanding.

(c) A description of any material changes to any of the information the licensee submitted on the licensee’s original application that the licensee has not previously reported to the director on any other report required to be filed with the director.

(d) A list of the licensee’s permissible investments.

(e) A list of the locations within this state at which the licensee or an authorized delegate of the licensee is conducting business regulated by ORS 717.200 (Definitions) to 717.320 (Short title), 717.900 (Civil penalties) and 717.905 (Criminal penalties). [1999 c.571 §10; 2015 c.118 §10]

1 Legislative Counsel Committee, CHAPTER 717—Money Transmission, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors717.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
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.