Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 860 - LICENSING OF MORTGAGE BANKERS AND MORTGAGE BROKERS
Section 441-860-0130 - Private Money Loans
Universal Citation: OR Admin Rules 441-860-0130
Current through Register Vol. 63, No. 9, September 1, 2024
A person is not engaged in the business of making loans secured by an interest in real estate as used in ORS 86A.100(3)(a)(C) and (5)(a)(F) if the person is making a loan from their own funds and does not make more than 10 loans secured by an interest in residential real estate during any consecutive twelve month period if they do not advertise or otherwise hold themselves out as being in the business of making mortgage loans.
Stat. Auth.: ORS 86A.136
Stats. Implemented: ORS 86A.100
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