Chapter 696 — RealEstate and Escrow Activities
2009 EDITION
REALESTATE AND ESCROW ACTIVITIES
OCCUPATIONSAND PROFESSIONS
REALESTATE LICENSEES
(Generally)
696.007 Statementof legislative purpose
696.010 Definitions
696.015 Legislativefinding; short title
(Licensing)
696.020 Licenserequired for individuals engaged in professional real estate activities;exception; rules
696.022 Licensingsystem for real estate brokers and property managers; rules
696.024 Paymentsdue and owing to Real Estate Agency
696.026 Conductingbusiness under licensee’s name, under registered business name or throughbusiness organization; rules
696.030 Exemptions
696.040 Singleact sufficient to constitute professional real estate activity
696.110 Exclusivenature of regulation of real estate licensees
696.125 Limitedlicense
696.130 Effectof revocation of license; limited license
696.174 Licenserenewal; continuing education courses; rules
696.182 Continuingeducation; rules
696.184 Dutiesof continuing education provider; rules
696.186 Qualificationsof continuing education instructors; rules
696.200 Licenseeto maintain place of business; branch offices; change of business location
696.205 Deathor incapacity of sole principal real estate broker; temporary license; rules
696.232 Returnof license by employee of agency; reissuance upon termination of employment
(ClientTrust Fund Accounts)
696.241 Clients’Trust Accounts; notice to agency; authority to examine account; branch trustaccount; interest earnings on trust account; when broker entitled to earnestmoney; funds not subject to execution; rules
696.243 Substitutingcopy for original canceled check allowed; electronic fund transfers
696.245 Clients’Trust Accounts; notice to bank; retention of copy
(Nonresidentand Reciprocal Real Estate Broker and Salesperson Licensing)
696.255 Nonresidentlicense equivalent to appointment of commissioner as agent for service ofprocess; service on commissioner; fee
696.265 Recognitionof nonresident real estate licensee; rules
(Miscellaneous)
696.270 Fees
696.280 Recordsof real estate brokers; rules
696.290 Sharingcompensation with or paying finder’s fee to unlicensed person prohibited;exceptions
696.294 Opinionletter; rules
696.301 Groundsfor discipline
696.310 Intracompanysupervision and control; effect of revocation on licensed associates
696.315 Prohibitionagainst licensee permitting nonlicensed individual to engage in activity withor on behalf of licensee
696.320 Effectof suspension or revocation of principal broker license on associated licensees
696.361 Regulationof real estate property manager
696.363 Relationshipbetween licensees as independent contractors or employer and employee
696.365 Cityor county business license tax
(Administration)
696.375 RealEstate Agency; Real Estate Commissioner; confirmation, salary and security ofcommissioner
696.385 Powerof agency; rulemaking procedures
696.392 Powerof commissioner to administer oaths, take depositions and issue subpoenas
696.395 Powerof commissioner
696.396 Investigationof complaints and progressive discipline; rules
696.398 Delegationby commissioner to employees; requirements
696.405 RealEstate Board; appointment; term; qualifications; compensation; expenses
696.415 Officers;meetings; quorum
696.425 Powersand duties of board; expenses
696.430 Recordsof commissioner as evidence; records open to inspection; rules
696.445 Advancementof education and research; Oregon Real Estate News Journal; content as todisciplinary actions
696.490 RealEstate Account; disposition of receipts
696.495 Revolvingfund; amount; use; procedure for repayment
ESCROWSAND ESCROW AGENTS
(Generally)
696.505 Definitionsfor ORS 696.505 to 696.590
696.508 Legislativefinding; short title
(Licensing)
696.511 Licenserequirement; licensing system; rules
696.520 Applicationof ORS 696.505 to 696.590
696.523 Applicationof ORS 696.505 to 696.590 to title insurance activities
696.525 Bondfor escrow agents
696.527 Depositsin lieu of bond; payment of claims; waiver
696.530 Expirationand renewal of license; fees; rules
696.532 Limitedlicense
696.534 Recordsof escrow agents; rules
696.535 Groundsfor refusing, suspending or revoking license or reprimanding licensee
696.541 Authorityof commissioner over escrow agents; rules
(Enforcement)
696.545 Investigation;injunction; jurisdiction
696.555 Commissionerto take possession of property and assets of escrow agent when assets orcapital impaired; appointment of receiver
696.570 Hearingsprocedure under ORS 696.505 to 696.590; subpoena
696.575 Civilor criminal actions not limited by ORS 696.505 to 696.590
696.577 Commissioner’sorder against unlicensed agent
(EscrowProperty)
696.578 Depositand designation of funds held in escrow; treatment of earnings on escrowaccount; notice
696.579 Fundsexempt from execution or attachment; designation of funds
696.581 Writtenescrow instructions or agreement required; statement; instructions containingblank prohibited; one-sided escrow; exceptions
696.582 Escrowagent to hold certain compensation; conditions; notice of demand; disbursementof money; copy of notice to principal
(CivilPenalties)
696.585 Civilpenalties
696.590 Penaltyamounts
REALESTATE MARKETING
696.600 Definitionsfor ORS 696.392, 696.600 to 696.785 and 696.995
696.603 Licenserequirement
696.606 Realestate marketing organization license; requirements; deposit required; claimsagainst deposit; rules
696.609 Exemptionsfrom ORS 696.392, 696.600 to 696.785 and 696.995
696.612 Groundsfor disciplinary action
696.615 Publicationof sanctions imposed for violations
696.618 Denialof right to court action for unlicensed real estate marketing organization
696.621 RealEstate Marketing Account
696.624 Consentby nonresident real estate marketing organization to service of summons orprocess required
696.627 On-siteinspection allowed; deposit
ACTIONSAND REMEDIES
696.710 Necessityof alleging license in action to collect compensation
696.720 Remediesare concurrent