Oregon Statutes 696.532 – Limited license
(1) The Real Estate Commissioner may issue or renew a limited escrow agent license if the commissioner determines it is in the public interest.
Terms Used In Oregon Statutes 696.532
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
(2) The commissioner may limit a license issued under this section:
(a) By term;
(b) To activities subject to supervision by a specific escrow agent;
(c) By conditions to be observed in the exercise of the privileges granted; or
(d) In other ways determined by the commissioner as necessary or appropriate to protect the public.
(3) A limited licensee must comply with the limitations of the license and the requirements of ORS § 696.505 to 696.590 and rules adopted under ORS § 696.505 to 696.590. [2003 c.427 § 2; 2009 c.174 § 6]
696.532 and 696.534 were added to and made a part of 696.505 to 696.590 by legislative action but were not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.