Oregon Administrative Rules
Chapter 863 - REAL ESTATE AGENCY
Division 25 - PROPERTY MANAGEMENT
Section 863-025-0060 - Cash Receipts

Universal Citation: OR Admin Rules 863-025-0060

Current through Register Vol. 63, No. 9, September 1, 2024

(1) A property manager must prepare a legible written receipt for any cash funds received under a property management agreement.

(2) If a property management agreement states that the property manager is responsible for collecting cash from machines located on the owner's property including, but not limited to, vending and laundry machine, the property manager must prepare and maintain cash receipts as provided in this rule.

(3) Cash receipts must be consecutively pre-numbered, be printed in at least duplicate form and must contain:

(a) The date of receipt of the cash funds;

(b) The amount of the funds;

(c) The reason for payment or collection of the funds received;

(d) The identifying code of the owner on whose behalf the cash funds were received;

(e) The tenant's name or, in the case of collection of cash as provided in section (2) of this rule, the machine(s) the cash was collected from;

(f) The payee of the funds; and

(g) The name and signature of the individual who actually received the cash and prepared the receipt.

(4) A copy of the receipt must be maintained in the property manager's records.

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.280 & 696.361

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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