Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 820 - DEBT BUYERS
Section 441-820-0040 - Application Review

(a) After an investigation, the director determines the applicant or applicant's directors, members, officers, managers, partners or control persons have the financial responsibility, experience, character, and general fitness to command the confidence of the community and warrant a belief that the licensee will engage in debt buying honestly, fairly, efficiently, and in compliance with ORS 646.639(4):

(b) The director finds that the application is complete and accurate;

(c) The applicant has paid all applicable fees;

(d) The licensee has errors and omissions insurance from an insurer authorized to transact insurance in this state or from any other insurer approved by the director;

(e) Neither the applicant nor its directors, members, officers, managers, partners and control persons has been convicted of a criminal offense involving dishonesty, fraud, deceit, misrepresentation, misappropriation of confidential data or personal information, breach of trust or laundering a monetary instrument;

(f) Neither the applicant or its directors, members, officers, managers, partners and control persons has a bankruptcy or reorganization within the past seven years;

(g) Neither the applicant or its directors, members, officers, managers, partners and control persons has been, in the seven years immediately proceeding the application, subject to a final cease and desist order regarding a violation of any law or regulation governing debt buyers or debt buying in any state, a suspension or revocation to engage in debt buying in any state, or any other formal or informal enforcement action in any state where the authority found the applicant or applicant's directors, members, officers, managers, partners or control persons violated an applicable law, regulation, rule or order.

(a) If a court of competent jurisdiction has enjoined the applicant or licensee or an applicant or licensee's directors, members, officers, managers, partners and control person from undertaking debt buying.

(b) Applicant or licensee or an applicant or licensee's directors, members, officers, managers, partners and control person has been subject to a US Postal Service fraud order within the previous 5 years and that remains in effect.