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| Home > Statutes > Usa Oregon |
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USA Statutes : oregon
Title : TITLE 54 LOAN ASSOCIATIONS AND LENDING INSTITUTIONS
Chapter : Chapter 726 Pawnbrokers
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As used in this chapter, unless the context
requires otherwise:
(1) “Director” means the Director of the Department of Consumer and
Business Services.
(2) “Pawnbroker” means any person, copartnership, association or
corporation:
(a) Lending money at a higher rate of interest than 10 percent per
annum on the deposit or pledge of personal property other than choses in
action, vehicles required by law to be registered with the Department of
Transportation, securities or printed evidences of indebtedness;
(b) Purchasing any personal property other than choses in action,
vehicles required by law to be registered with the Department of
Transportation, securities or printed evidences of indebtedness on the
direct or implied condition of selling it back at a stipulated price that
would amount to the payment of interest or consideration in excess of 10
percent per annum; or
(c) Doing business as storage warehouseman and lending money at a
higher rate of interest than 10 percent per annum upon goods, wares,
merchandise or personal property pledged or deposited as collateral
security other than vehicles required by law to be registered with the
Department of Transportation.
(3) “Pledge” means any article deposited with a pawnbroker in the
course of the business of the pawnbroker as defined in subsection (2) of
this section.
(4) “Pledgor” means the person who delivers a pledge into the
possession of a pawnbroker, unless the person discloses that the person
is or was acting for another, in which event “pledgor” means the
disclosed principal.
(5) “Pledge loan” means a loan made by a pawnbroker to a pledgor
and secured by a pledge. [Amended by 1971 c.168 §1; 1985 c.762 §135; 1987
c.373 §71; 1993 c.744 §27] This chapter shall be
known as the Pawnbrokers Act. It is applicable to any person who
qualifies under its provisions, and to such other person as shall by
violating any of its provisions be subject to the penalties provided in
ORS 726.990. Nothing in this chapter shall be
construed or held to limit the rights, powers or privileges granted to
any person by any law of this state or of the United States whereby the
loaning of money or extending of credit is regulated, provided, that such
person is operating in compliance with the provisions of such law.LICENSING No person shall engage or
continue in the business of a pawnbroker, or use any assumed business
name or advertising that in any way would lead the public to believe the
person is a licensed pawnbroker, except as authorized by this chapter and
without first procuring a license from the Director of the Department of
Consumer and Business Services as provided in this chapter. [Amended by
1979 c.202 §1] No license shall be
granted to any person, partnership, association or corporation unless
that person and all members of any such partnership or association are
bona fide residents of this state and unless such corporation is an
Oregon corporation in good standing or a foreign corporation legally
qualified to do business in this state. (1)
Application for the license shall be in writing in the form prescribed by
the Director of the Department of Consumer and Business Services and
shall contain the name and both the residence and business addresses of
the applicant, and if the applicant is a partnership or association, of
every member thereof, and if a corporation, of each officer and director
thereof. The application shall also show the county and city with street
and number, if any, where the business is to be conducted and such other
information that the director may require.
(2) Before issuing any license, the director shall post notice of
filing of the application in the office of the Department of Consumer and
Business Services for a period of 30 days. The director may waive posting
of the notice if the application is made by an applicant for the same
location as one for which a license has been surrendered because:
(a) The business has been transferred to the applicant;
(b) The licensee has died and the applicant is the licensee’s
personal representative or successor in interest; or
(c) The licensee is the applicant and has changed the name under
which the licensee is doing business.
(3) The applicant at the time of making application for the
applicant’s first licensed location in this state shall pay to the
director a nonrefundable application fee of $500. [Amended by 1971 c.218
§1; 1985 c.762 §136; 1997 c.842 §1](1) A bond in the sum of $25,000 executed by
the applicant as obligor, together with a surety company authorized to do
business in this state as surety or an irrevocable letter of credit
issued by an insured institution as defined in ORS 706.008 in the amount
of $25,000 shall accompany the application and be maintained by the
pawnbroker licensee with the Director of the Department of Consumer and
Business Services. This bond or letter of credit shall be executed to the
State of Oregon and for the use of the state and of any person who may
have a cause of action against the obligor of the bond or the letter of
credit issuer under this chapter. The bond or letter of credit shall be
conditioned that the obligor will faithfully conform to and abide by the
provisions of this chapter and of all rules and regulations lawfully made
by the director under this chapter, and will pay to the state and to any
such person any and all moneys that may become due or owing to the state
or to such person from the obligor under and by virtue of the provisions
of this chapter. The Attorney General shall approve the form of any bond
or letter of credit that may be accepted by the director under this
section.
(2) If any person is aggrieved by the misconduct of a pawnbroker or
by the pawnbroker’s violation of any law and recovers judgment therefor,
such person may, after the return unsatisfied either in whole or in part
of any execution issued upon such judgment, maintain an action for the
person’s own use upon the bond or letter of credit of the pawnbroker in
any court having jurisdiction of the amount claimed. The director shall
furnish to anyone applying therefor, a certified copy of any such bond or
letter of credit filed with the director upon the payment of a fee of $5
and the certified copy shall be prima facie evidence in any court that
the bond or letter of credit was duly executed and delivered by each
pawnbroker whose name appears thereon. [Amended by 1971 c.218 §2; 1979
c.202 §2; 1991 c.331 §125; 1993 c.18 §155; 1997 c.631 §544; 2003 c.176 §1] The Director of the
Department of Consumer and Business Services may not grant a license to
engage in the business of pawnbroker to any person if any person named in
the application submitted pursuant to ORS 726.060:
(1) Is insolvent, either in the sense that the person’s liabilities
exceed the person’s assets or that the person cannot meet obligations as
they mature, or is in such financial condition that the person cannot
continue in business with safety to the person’s customers;
(2) Has engaged in dishonest, fraudulent or illegal practices or
conduct in any business or profession;
(3) Has willfully or repeatedly violated or failed to comply with
any provision of the Oregon Bank Act, the Savings Association Act, the
Oregon Credit Union Act, the Oregon Consumer Finance Act or the
Pawnbrokers Act, or any administrative rule or order adopted pursuant to
any such Act;
(4) Has been convicted of a crime, an essential element of which is
fraud;
(5) Is not qualified to conduct a pawnbroker business on the basis
of such factors as training, experience and knowledge of the business;
(6) Is permanently or temporarily enjoined by a court of competent
jurisdiction from engaging in or continuing any conduct or practice
involving any aspect of the pawnbroker business;
(7) Is the subject of an order of the director, subjecting the
person to a fine or other civil penalty, or removing the person from an
office in any entity regulated by either director; or
(8) Is the subject of an order entered within the past five years,
subjecting the person to a fine or other civil penalty, or removing the
person from an office in a state banking institution, a national bank, a
state or federal savings association, a state or federal credit union or
a consumer finance company, issued by the regulatory authority of another
state or of the federal government with authority over such banking
institutions, credit unions, consumer finance companies or savings
associations. [1977 c.135 §55; 1985 c.762 §137] (1) Conditioned upon the
applicant’s compliance with this chapter, the payment of the license fee,
the filing of a bond and approval thereof by the Attorney General and in
the absence of any reason or condition which in the judgment of the
Director of the Department of Consumer and Business Services might
warrant the refusal of the granting of a license, including the reasons
set out in ORS 726.075, the director shall issue a license within 10 days
after the expiration of the required 30-day filing period or, if the
director has waived the filing period, within 10 days after the date the
application was received.
(2) If the application is denied, the director shall indorse
thereon with the date the word “Disapproved” and shall immediately advise
the applicant by registered mail or by certified mail with return receipt
of the reason therefor. [Amended by 1971 c.218 §3; 1977 c.135 §56; 1991
c.249 §69] The licenses
shall be in a form prescribed by the Director of the Department of
Consumer and Business Services and shall state the address at which the
business is to be conducted and the full name of the pawnbroker. The
license shall be kept conspicuously posted in the place of business of
the pawnbroker and shall not be transferable or assignable. [Amended by
1971 c.218 §4] No pawnbroker shall
transact any business within the scope of this chapter except under the
name at the place of business named in the license. The Director of the
Department of Consumer and Business Services may issue more than one
license to the same pawnbroker upon the pawnbroker’s compliance with all
the provisions of this chapter governing an original issuance of a
license for each such additional license. Each additional license shall
be for a separate and distinct place of business for the making and
completing of pledge loans as provided in this chapter. Whenever a pawnbroker
changes the place of business to another location within the same city or
town, the pawnbroker shall at once give written notice thereof to the
Director of the Department of Consumer and Business Services and shall
surrender the pawnbroker’s license for cancellation, together with the
payment of a fee of $5 for a new license. Thereupon a new license shall
be issued by the director for the new location. No change in the place of
business of a pawnbroker to a location outside of the city or town named
in the original license shall be permitted under the same license.
[Amended by 1971 c.218 §5] (1) Each pawnbroker
shall pay to the Director of the Department of Consumer and Business
Services each year the license fee determined by the director under
subsection (2) of this section.
(2) The director may charge and collect a license fee from each
pawnbroker, according to a license fee schedule established by the
director by rule, for the purpose of defraying the costs of performing
supervision, enforcement and other duties imposed by law upon the
director in respect to pawnbrokers. In setting the license fee schedule
and allocating license fees among pawnbrokers, the director shall take
into consideration the costs of performing the duties of the director
relative to each pawnbroker, the amount of all other moneys paid to the
director under this chapter and the cost of developing and maintaining a
reasonable emergency fund. License fees under this subsection shall be
assessed and paid not later than December 15 of each year or upon
approval of a new license application.
(3) In addition to the license fee collected under subsection (2)
of this section, whenever the director devotes any extra attention to the
affairs of a pawnbroker, either upon determination by the director or
upon request of the pawnbroker, the fee for the extra service shall be
the actual cost thereof. [1985 c.762 §139; 1997 c.842 §2] Every pawnbroker, on or before
January 15, shall submit to the Director of the Department of Consumer
and Business Services an annual report in a form prescribed by the
director, giving the following information:
(1) The number of pledge loans and total amount outstanding at the
beginning of the year.
(2) The number of pledge loans made during the year and the
aggregate amount of the pledge loans.
(3) The number of pledge loans canceled during the year and the
aggregate amount of the canceled pledge loans.
(4) The number of pledge loans and total amount outstanding at the
close of the year.
(5) Any other information requested by the director. [Amended by
2005 c.21 §14] (1) The Director of
the Department of Consumer and Business Services may revoke any license
under this chapter if the director finds that:
(a) The pawnbroker has failed to pay the annual license fee or to
maintain in effect the required bond or to comply with any demand, ruling
or requirement of the director lawfully made pursuant to and within the
authority of this chapter or to comply with the provisions of law to keep
the corporation in good standing if such pawnbroker is a corporation;
(b) The pawnbroker has violated any provision of this chapter or
any rule or regulation lawfully made by the director under and within the
authority of this chapter; or
(c) Any fact or condition exists which, if it had existed at the
time of the original application for a license, would have warranted the
director in refusing originally to issue the license.
(2) The director may, without notice or hearing, suspend any
license for a period not exceeding 30 days, pending investigation.
(3) The director may revoke or suspend only the particular license
with respect to which grounds for revocation or suspension occur or
exist, or, if the director finds that such grounds for revocation or
suspension are of general application to all offices or to more than one
office operated by the pawnbroker, the director shall revoke or suspend
all the licenses issued to the pawnbroker or such number of licenses as
such grounds apply to, as the case may be. [Amended by 1971 c.734 §177;
1977 c.135 §57] (1)
Where the Director of the Department of Consumer and Business Services
proposes to refuse to issue a license, or proposes to revoke or suspend a
license, opportunity for hearing shall be accorded as provided in ORS
chapter 183.
(2) Judicial review of orders under subsection (1) of this section
shall be as provided in ORS chapter 183. [1971 c.734 §179] The Director of
the Department of Consumer and Business Services may reinstate any
suspended license or issue a new license to a pawnbroker whose license
has been revoked, upon the pawnbroker’s compliance with the provisions of
law or any demand, ruling or requirement lawfully made by the director
pursuant to and within the authority of this chapter. For such
reinstatement or issuance of a new license a fee of $25 shall be paid.Every license issued under this chapter shall
remain in force until it has been surrendered, revoked or suspended in
accordance with the provisions of this chapter. No revocation, suspension
or surrender of any license shall impair or affect the obligation of any
preexisting lawful contract between the pawnbroker and any borrower.
[Amended by 1971 c.218 §7] Any pawnbroker may surrender any
license by delivering to the Director of the Department of Consumer and
Business Services written notice that the pawnbroker thereby surrenders
such license, but such surrender shall not affect the pawnbroker’s civil
or criminal liability for acts committed prior to the surrender. (1)(a) For the
purpose of discovering violations of this chapter or securing information
required by the Director of the Department of Consumer and Business
Services under this chapter, the director at any time, either personally
or by an examiner or other employee of the Department of Consumer and
Business Services, may investigate the pledge loans and business and
examine the books, accounts, records and files used in the pledge loans
and business of every pawnbroker and of every person that the director
has reason to believe is acting as a pawnbroker without a license,
whether that person acts or claims to act as principal or agent, or under
or without the authority of this chapter.
(b) For the purposes of paragraph (a) of this subsection:
(A) Every pawnbroker and person that the director has reason to
believe is acting as a pawnbroker without a license shall give the
director, examiner or other employee of the department free access to the
person’s place of business, books, accounts, papers, records, files,
safes and vaults; and
(B) The director, examiner or other employee may:
(i) Compel the attendance of witnesses and examine the witnesses
under oath; and
(ii) Require the production of documents or records.
(c) The actual cost of each examination shall be paid to the
director by every person examined. The director may maintain an action
for recovery of costs in any court of competent jurisdiction.
(2) At least once every two calendar years or as often as the
director determines necessary, the director, examiner or other employee
of the department shall make an examination of the pledge loans and
business, office records and files of each licensed pawnbroker. The
examination shall occur at the licensed location of the pawnbroker.
(3) At least once during any calendar year in which an examination
is not conducted under subsection (2) of this section, each licensed
pawnbroker shall submit to the director for examination, at the office of
the director, those books, records and documents prescribed by the
director by rule. [Amended by 1973 c.449 §1; 1985 c.762 §140; 2003 c.176
§2; 2005 c.338 §28](1) For the purpose of an investigation or proceeding under
the Pawnbrokers Act, the Director of the Department of Consumer and
Business Services may administer oaths and affirmations, subpoena
witnesses, compel their attendance, take evidence and require the
production of books, papers, correspondence, memoranda, agreements or
other documents or records that the director considers relevant or
material to the inquiry.
(2) If a person fails to comply with a subpoena issued under
subsection (1) of this section or a party or witness refuses to testify
on any matter, the judge of the circuit court for any county, on the
application of the director, shall compel obedience in the manner
provided by law in the case of disobedience to a subpoena issued in a
civil action in the circuit court.
(3) Each witness who appears before the director under a subpoena
shall receive the fees and mileage provided for witnesses in ORS 44.415
(2), except a witness subpoenaed at the instance of parties other than
the director or an examiner shall not be compensated for attendance or
travel unless the director certifies that the testimony of the witness
was material to the matter investigated.
(4) The director in any investigation may cause the depositions of
witnesses to be taken in the manner prescribed by law for like
depositions in civil suits in the circuit court. [1979 c.202 §9; 1985
c.762 §141; 1989 c.980 §21]REGULATION (1) The Director of the Department of
Consumer and Business Services shall administer and enforce this chapter.
(2) In accordance with ORS chapter 183, the director may adopt
rules and make any specific rulings, demands and findings as may be
necessary for the proper conduct of the pawnbroker business and the
enforcement of this chapter.
(3) In addition to the notice requirements of ORS chapter 183,
before the director adopts a rule, the director shall submit a copy of
the rule to each pawnbroker. [Amended by 1985 c.762 §142] No pawnbroker shall:
(1) Transact any business between the hours of 9 p.m. and 7 a.m.
except that on Saturday the pawnbroker may transact business up to the
hour of 10 p.m.
(2) Accept a pledge from any person who is under the age of 18
years.
(3) Convert or dispose of any unredeemed pledge before the time to
redeem it has expired or before the pledge has been forfeited to the
pawnbroker as provided in ORS 726.400. [Amended by 1975 c.739 §1] (1) Every pawnbroker
shall keep a register in which shall be recorded in ink:
(a) The date of the transaction.
(b) The serial number of the pledge loan.
(c) The name and address of the pledgor, or if the pledge is made
by a person acting as agent for a disclosed principal, the name and
address of principal and agent.
(d) An identifying description of the article or articles pledged.
(e) The amount of the pledge loan.
(f) The date on which such pledge loan was canceled.
(g) A notation as to whether it was redeemed or renewed, or whether
the pledge was forfeited.
(2) All entries in the register shall be made in the English
language and shall be open to the inspection of any public official,
police officer or any other person who is duly authorized or empowered by
the laws of this state to make such inspection.
(3) Every pawnbroker shall maintain an alphabetical file from which
can be determined the total obligations of any one pledgor.
(4) Subject to the provisions of this chapter the Director of the
Department of Consumer and Business Services may prescribe the form of
other books and records to be kept by the pawnbroker. All records shall
be preserved and available for at least two years after making the final
entry on any pledge loan recorded therein. [Amended by 1979 c.202 §3;
1987 c.373 §72](1) In addition to the register required under
ORS 726.280, a pawnbroker shall record, for each transaction, the date,
the name and address of the pledgor, the type and number of any proof of
identification presented by the pledgor, a physical description of the
pledgor and an identifying description of the article pledged.
(2) The pawnbroker shall deliver each record, or a copy thereof,
made under this section, within three days after the date of the
transaction, to the local police agency that has jurisdiction over the
location at which the pawnbroker has a place of business. [1979 c.202 §10] The pawnbroker
shall at the time of making a loan require the pledgor or agent of the
pledgor to write the signature and address of the pledgor or the agent of
the pledgor on a card, ticket, stub or any other approved record, bearing
the serial number of the loan corresponding to that recorded in the
pawnbroker’s register as provided in ORS 726.280. If the person is unable
to write, the person shall sign the person’s mark, and in such event the
pawnbroker shall record on the signature card, stub or record such
information as will enable the pawnbroker to identify the person in case
of the loss of the ticket. (1) The pawnbroker shall
at the time of making a pledge loan deliver to the pledgor or the agent
of the pledgor a memorandum or pawn ticket on which shall be legibly
written or printed the following:
(a) The date of the transaction.
(b) The serial number of the pledge loan.
(c) The article or articles pledged.
(d) The amount of the pledge loan.
(e) The rate of interest charged on the loan.
(f) The name and address of the pawnbroker.
(g) An accurate summary of the notice requirements of ORS 726.400
(2).
(h) Such other terms and conditions not inconsistent with this
chapter as the pawnbroker may wish to insert.
(2) Nothing appearing on the pawn ticket shall relieve the
pawnbroker of the obligation of exercising reasonable care in the safe
keeping of articles pledged with the pawnbroker. [Amended by 1979 c.202
§4] Except as otherwise
provided in this chapter, the holder of the memorandum or pawn ticket
shall be presumed to be the person entitled to redeem the pledge. The
pawnbroker shall deliver the pledge to the person presenting such
memorandum or pawn ticket upon payment of principal and interest due on
the pledge loan. When a pawn ticket, instead of being
presented in person, is sent to the pawnbroker by mail, accompanied with
a money order, bank draft or cash for the amount due including the cost
of shipment and packing as desired, the pledge shall be securely packed
and forwarded by the pawnbroker in accordance with the remitter’s
instructions. If the remittance is insufficient to cover the amount due
and the cost of shipment and packing as desired, the pawnbroker shall
either notify the remitter of the amount of the deficiency or send the
pledge subject to the payment of the deficiency by the consignee. The
pawnbroker’s liability for the pledge shall cease upon delivery thereof
to the carrier or the agent of the carrier. [Amended by 1973 c.449 §4;
1981 c.192 §43] Except as
otherwise provided in this chapter, a pawnbroker shall not be required to
deliver a pledge except upon surrender of the pawn ticket, unless the
ticket is impounded or its negotiation enjoined by a court of competent
jurisdiction. If
the pawn ticket or memorandum is lost, destroyed or stolen, the pledgor
shall so notify the pawnbroker in writing. The receipt of such notice
shall be treated by the pawnbroker as a stop against the pledge loan, and
thereafter the provisions of ORS 726.310 and 726.320 shall not apply to
such pledge loan. Before delivering the pledge or issuing a new pawn
ticket in such event, the pawnbroker may require the pledgor to make an
affidavit of the alleged loss, destruction or theft of the ticket. Upon
receipt of the affidavit, or in case no affidavit is required, then
within not less than three nor more than five days from receipt of notice
of the loss of the ticket, the pawnbroker shall permit the pledgor either
to redeem the pledge or to receive a new ticket upon the payment of
accrued interest, and the pawnbroker shall incur no liability for so
doing unless the pawnbroker has previously received written notice of an
adverse claim. This section shall not be construed as in any manner
limiting or affecting the pawnbroker’s legal liability in cases where
goods are stolen or other legal defects of title exist in the pledgor. The alteration of a pawn ticket shall not
excuse the pawnbroker who issued it from liability to deliver the pledge
according to the terms of the pawn ticket as originally issued, but shall
relieve the pawnbroker of any other liability to the pledgor or holder of
the pawn ticket. If a pawn ticket is presented to a
pawnbroker which purports to be the one issued by the pawnbroker, but
which is found to be spurious, the pawnbroker may seize and retain it
without any liability whatsoever to the holder thereof. Any such pawn
ticket so seized shall be delivered or mailed immediately to the Director
of the Department of Consumer and Business Services accompanied by a
letter of explanation. [Amended by 1987 c.373 §73] If more than
one person claims the right to redeem a pledge, the pawnbroker shall
incur no liability for refusing to deliver the pledge until the
respective rights of the claimants have been adjudicated. In case of an
action brought against the pawnbroker for recovery of the pledge, the
pawnbroker may as a defense require all known claimants to interplead. If
no action is brought against the pawnbroker by either claimant within 30
days after notice of an adverse claim the pawnbroker may proceed to
dispose of the pledge as provided in this chapter. A pawnbroker
shall be liable for the loss of a pledge or a part thereof or for injury
thereto resulting from failure to exercise reasonable care. Such care
shall include maintaining sufficient insurance coverage against possible
loss due to fire, theft and burglary so as to protect the interest of the
pledgor for the amount of the loan. In case of loss the burden of proof
to establish due care shall be upon the pawnbroker. The pawnbroker shall
have a first lien on any pledge for the amount of the pledge loan and
interest in all cases except where goods are stolen or where a prior lien
exists by virtue of any provision of law. [Amended by 1979 c.202 §5] (1) A pawnbroker may not
charge, contract for or receive interest at a rate in excess of three
percent per month. However, on pledge loans redeemed within the first
month the pawnbroker may charge a month’s interest, or the pawnbroker may
charge $3 when the interest accumulated amounts to less. The interest may
not be compounded and no amount whatsoever may be deducted or received in
advance.
(2) A set-up fee of 10 percent may be charged on all loans and on
all loan renewals with a minimum charge of $2 and a maximum charge of
$100.
(3) A storage fee of up to two percent may be charged on all loans
and on all loan renewals, with a minimum charge of $2.
(4) Except as provided by law, no further or other charge or amount
whatsoever may be charged, contracted for or received in addition to the
interest provided for in this section. [Amended by 1973 c.449 §5; 1979
c.202 §6; 1981 c.192 §44; 1985 c.795 §1; 1997 c.842 §3] A charge of $3 may be charged
a pledgor or customer who places with the pawnbroker firearms required to
be registered under the laws of the United States. In addition, a pledgor
or customer may be charged any fee imposed by any governmental entity
upon a pawnbroker for holding or transferring a firearm. [1973 c.449 §3;
1997 c.842 §4](1) Unless a longer loan period is agreed upon by the
pledgor and the pawnbroker, all loans shall be made for a period of 60
days. However, a pledge may be redeemed and the pledge loan repaid at any
time before the loan period expires. All pawn tickets shall clearly state
the expiration date of the loan.
(2) Except for a pledge securing a pledge loan of less than $500,
before any pledge may be deemed forfeited, the pawnbroker after the
expiration of the period mentioned in subsection (1) of this section must
cause a notice to be given the pledgor as provided in this section. The
notice shall notify the pledgor of the forfeiture of the pledge. The
notice shall be in writing and delivered postpaid by certified mail,
return receipt required, in a securely closed envelope addressed to the
pledgor at the last-known address shown on the pawnbroker’s record.
Delivery of a notice under this subsection occurs when the notice is
mailed as provided in this subsection. The certified return receipt card
or the returned envelope shall be kept on file by the pawnbroker for at
least two years from date of mailing thereof as evidence of the
notification. The postal costs and a reasonable charge for preparing the
notice shall be borne by the pledgor. A pledgor shall have a grace period
of 30 days after the delivery of the notice required by this subsection
in which to redeem the pledge, or to renew the loan for one additional
60-day period, or less, by paying any renewal fee and all the accrued
interest and fees to date. There shall be no grace period following the
expiration of any renewal.
(3) Any pledge that is not redeemed within 30 days after the
expiration of the 60-day loan period, or within the period of renewal, if
any, shall be deemed forfeited and the pawnbroker shall thereby acquire
all the right, title and interest of the pledgor therein to hold and
dispose of the pledge as the pawnbroker’s own property. [Amended by 1973
c.449 §6; 1979 c.202 §7; 1981 c.192 §45; 1985 c.795 §2; 1997 c.842 §5] Every pawnbroker shall keep an
indelible record, fully itemized, of all forfeited pledges. The record
shall contain the following information:
(1) The number of the pledge.
(2) The name and address of the pledgor.
(3) The date of the pledge loan or the date of the last payment
received as interest or principal.
(4) The date of mailing notice.
(5) The date of forfeiture. [Amended by 1985 c.795 §3] If any
pawnbroker or agent, member, officer or employee thereof, or any other
person is found by the Director of the Department of Consumer and
Business Services to have charged, contracted for or received any
interest, fees or other charges in excess of those permitted by ORS
726.390, then the pledge loan shall be void. The pawnbroker shall forfeit
the right to collect or receive any principal, interest or charges
whatsoever. The pawnbroker shall upon order of the director return to the
pledgor free from the pawnbroker’s lien the pledge pledged by the pledgor
without tender of principal and interest and shall pay into the county
school fund of the county wherein the loan is made all payments and all
fees or other charges previously collected under such pledge loan.
[Amended by 1975 c.544 §59a; 1987 c.373 §74] (1) The Director of the Department of
Consumer and Business Services may, if the director has reason to believe
that a person has:
(a) Violated, is violating or is about to violate ORS 726.040,
726.100, 726.110, 726.130, 726.270, 726.280, 726.285, 726.290, 726.300,
726.390, 726.400 or 726.410, a rule adopted under ORS 726.260 or an order
issued under this chapter, issue an order to cease and desist from the
violation.
(b) Failed to file the annual report required by ORS 726.130, issue
an order to file the report.
(c) Filed information under ORS 726.060, 726.110, 726.130 or
726.250 that is false or untruthful, issue an order to correct the filing.
(d) Failed to maintain in effect the bond or an irrevocable letter
of credit required under ORS 726.070, issue an order to remedy the
failure.
(2)(a) The director shall serve an order under this section on the
person named in the order.
(b) An order issued under this section becomes effective upon
service on the person named in the order.
(c) ORS 183.413 to 183.470 apply to an order issued under this
section.
(d) Notwithstanding paragraph (c) of this subsection, a person may
not obtain a hearing on the order unless the person requests the hearing
in writing within 20 days after service of the order.
(e) A person who does not request a contested case hearing may not
obtain judicial review of the order.
(f) The director may vacate or modify an order issued under this
section. A modified order is effective upon service on the person named
in the order.
(3) The authority conferred by this section is in addition to and
not in lieu of any other authority conferred on the director. [2005 c.338
§27]PENALTIES(1) Any person who violates ORS 726.040,
726.100, 726.110, 726.130, 726.270, 726.280, 726.285, 726.290, 726.300,
726.390, 726.400 or 726.410 or any rule adopted under ORS 726.260 or an
order issued under ORS 726.440 shall forfeit a civil penalty in an amount
determined by the Director of the Department of Consumer and Business
Services of not more than $2,500. The civil penalty forfeited shall be
paid into the State Treasury and credited as provided in ORS 705.145. In
addition, the director may revoke the license of any licensee who
violates any such provision.
(2) The civil penalty may be recovered in an action brought in the
name of the State of Oregon in any court of appropriate jurisdiction or
may be imposed as provided in ORS 183.745.
(3) In any court action with respect to a civil penalty, including
judicial review under ORS 183.745, the court may review the penalty as to
both liability and reasonableness of amount. [1975 c.544 §61; 1985 c.762
§143; 1991 c.734 §99; 2005 c.338 §29] (1) Violation, or participation in the
violation, of any provision of this chapter by any pawnbroker or any
agent, member, officer or employee thereof, or any other person is
punishable, upon conviction, by a fine of not less than $100 nor more
than $500 or by imprisonment in the county jail for not less than one
month and not more than six months, or both.
(2) Upon conviction under subsection (1) of this section, no
license shall be granted to such person, nor to the husband or wife of
such person, nor to any partnership, association or corporation of which
the person is an agent or member, until two years after the date of the
conviction. [Amended by 1971 c.743 §425; 1987 c.373 §75]
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