Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 875 - CUSTODY AND POSSESSION OF CLIENT FUNDS
Section 441-875-0020 - Branch Office Trust Accounts

(1) Branch offices shall maintain a separate trust account if:

(2) If the branch office maintains a trust account separate from the main office, the mortgage banker or mortgage broker shall be responsible for supervision of the branch office trust account to ensure compliance with the provisions of OAR 441-875-0030 and ORS 86A.157 and 86A.160.

(3) If the branch office places funds into a neutral escrow depository, the mortgage banker or mortgage broker shall be responsible for supervision of the branch office activities to ensure compliance with the provisions of OAR 441-875-0030 and ORS 86A.157(1).

(4) Branch offices may maintain a trust account separate from any trust account maintained by the main office provided the branch office complies with all provisions under OAR 441-875-0030 and ORS 86A.157(4).

(5) Examination of the branch office books and records relating to the trust accounts may be made at such time as the director may choose.

(6) Compliance with the provisions of OAR 441-875-0020 through 441-875-0040 does not relieve any person of any other duties and liabilities under ORS Chapter 86A, applicable administrative rules, or any other provisions of law.