2015 ORS 86A.121¹
Cancellation of license or application
  • application to surrender license

(1) The Director of the Department of Consumer and Business Services may cancel an application or license if the director finds that the applicant or licensee:

(a) Has ceased to do business as a mortgage banker or mortgage broker;

(b) Has failed to maintain a corporate surety bond or irrevocable letter of credit required under ORS 86A.106 (Procedures for licensing) or 86A.227 (Corporate surety bond required); or

(c) Cannot be located after a reasonable search.

(2) A mortgage banker or mortgage broker may surrender a license by filing an application to surrender the license. Unless the director determines that the license should be suspended or revoked, the director shall allow the surrender subject to any conditions, limitations and restrictions the director may impose. [Formerly 59.875]


1 Legislative Counsel Committee, CHAPTER 86A—Mortgage Lending, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors086A.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.