(1) As used in this section:
(a) “Brokerage services” means the arrangements or negotiations conducted by a motor vehicle broker for the purpose of obtaining a motor vehicle for a buyer or lessee from a seller or lessor through a method that does not include:
(A) Accepting the motor vehicle on consignment;
(B) If the motor vehicle broker has a franchise as defined in ORS 650.120 (Definitions for ORS 650.120 to 650.170), exchanging new motor vehicles with another motor vehicle dealer who has a franchise that is with the same franchisor as the motor vehicle broker; or
(C) Receiving a referral fee from another motor vehicle dealer for referring a buyer or lessee when the motor vehicle broker did not participate in the arrangement or negotiation for the sale or lease of the motor vehicle.
(b) “Motor vehicle broker” means a person who holds a valid, current vehicle dealer certificate issued under ORS 822.020 (Issuance of certificate) and who receives a fee for acting on behalf of a buyer or lessee to arrange or negotiate the purchase or sale of a motor vehicle between a buyer and a seller, or the lease of a motor vehicle between a lessee and a lessor.
(2) At the time of entering into an agreement to provide brokerage services, a motor vehicle broker shall provide the buyer or lessee with a written disclosure that includes:
(a) A description of the specific brokerage services to be provided by the motor vehicle broker;
(b) A description of the fees the motor vehicle broker will charge for the brokerage services and a description of any deposits that are required to be paid before the motor vehicle is delivered to the buyer or lessee;
(c) A description of how the motor vehicle broker will charge and collect the fees and deposits described in paragraph (b) of this subsection; and
(d) A statement of whether or not the motor vehicle broker is responsible for warranty service work on the motor vehicle.
(3) In addition to the written disclosure required under subsection (2) of this section, a motor vehicle broker shall provide a statement to the buyer or lessee if the motor vehicle broker adds a fee for brokerage services to the purchase price or capitalized cost of the motor vehicle and the fee was negotiated with the seller or lessor on behalf of the buyer or lessee. The statement required under this subsection must:
(a) Inform the buyer or lessee that fees for brokerage services have been added to the purchase price or capitalized cost;
(b) State that the fees for brokerage services will be paid to the motor vehicle broker by the seller or lessor; and
(c) Be clear and conspicuous in not less than 14-point bold type.
(4) A motor vehicle broker may not:
(a) Calculate any fee charged to the buyer or lessee as a percentage of the savings achieved by the motor vehicle broker for the buyer or lessee on the purchase or lease of the motor vehicle;
(b) Collect from both the buyer and seller or both the lessee and lessor a fee for brokerage services that are for the same transaction;
(c) Represent that the motor vehicle broker is providing a free service to the buyer or lessee, unless the motor vehicle broker has not received and will not receive any compensation from the transaction; or
(d) If the fee for the brokerage services will be paid out of the proceeds of the purchase or lease, make any representation that could cause a buyer or lessee to believe that the motor vehicle broker will be compensated by the seller or lessor for the transaction.
(5) When representing a buyer or lessee, a motor vehicle broker shall act only as an agent for the buyer or lessee.
(6) If a motor vehicle broker maintains a dealer inventory, the motor vehicle broker:
(a) Shall inform the buyer or lessee whether or not the broker is acting as a broker or dealer for the transaction; and
(b) May not do any of the following if the motor vehicle broker entered into an agreement to act as a broker on behalf of the buyer or lessee and later negotiated to sell or lease a motor vehicle from the broker’s dealer inventory to the buyer or lessee:
(A) Act as an agent for or represent the buyer or lessee;
(B) Charge the buyer or lessee a fee for brokerage services;
(C) Purchase or lease a motor vehicle on behalf of a buyer or lessee and then sell or lease that vehicle to the buyer or lessee as a motor vehicle dealer; or
(D) Sell a motor vehicle to a buyer or lease a motor vehicle to a lessee, unless the motor vehicle broker provides the buyer or lessee with a clear and conspicuous written disclosure that is signed by the buyer or lessee and that states the following:
(i) The motor vehicle broker is no longer acting as the agent for the buyer or lessee for the purposes of the sale or lease; and
(ii) The motor vehicle broker is acting as a motor vehicle dealer with whom the buyer or lessee is free to negotiate the purchase price or lease terms of the motor vehicle. [1993 c.464 §2; 2005 c.190 §1]
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. Currency Information