59.005 Short title
ORS 59.005 to 59.505, 59.991 and 59.995 may be cited as the Oregon Securities Law.
Oregon Revised Statutes
Chapter 59 — Securities Regulation
168 sections59.010 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.015 Definitions for Oregon Securities Law
As used in the Oregon Securities Law, unless the context otherwise requires: “Broker-dealer” means a person who engages, all or part of the time, in effecting transactions in securities for the account of others or for the person’s own account. “Broker-dealer” does not include: An issuer effecting sales in its own securities; The following institutions: …
59.020 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.025 Securities exempt from registration
The following securities are exempt from ORS 59.049 and 59.055: A security issued or guaranteed by the United States or a state, or by a political subdivision, agency or other instrumentality of the United States or a state. Any other security offered in connection with or as part of a security described in paragraph (a) of this subsection, if the security…
59.030 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.035 Transactions exempt from registration
The following transactions are exempt from ORS 59.049 and 59.055 if they are not part of an attempt to evade fraudulently any provision of the Oregon Securities Law: Any transaction by a sheriff, marshal or court appointed fiduciary. An isolated nonissuer transaction in this state, whether effected through a broker-dealer or not. Any transaction by an iss…
59.045 Authority of director to deny, withdraw or condition exemptions
The Director of the Department of Consumer and Business Services may by rule or order, as to any security or any type of security transaction: Deny, withdraw or condition the exemptions allowed by ORS 59.025 and 59.035 if, in the director’s opinion, the further sale of the security in this state would work a fraud or imposition upon the purchaser. Waive th…
59.047 [1981 c.292 §2; 1985 c.349 §5; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.049 Federal covered securities exempt from registration; notice filings; fees; rules
Federal covered securities may be offered and sold in this state without registration, subject to the following: Unless otherwise exempt from registration under ORS 59.025 or 59.035, any federal covered security that is subject to section 18(b)(2) of the Securities Act of 1933, as amended, may be offered and sold only upon a filing of a notice with, and the…
59.050 [1981 c.292 §3; 1985 c.349 §6; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.051 Statutory references to federal law
References in ORS 59.005 to 59.505, 59.991 and 59.995 to federal statutes or federal regulations shall be construed to refer to those statutes or regulations as they are in effect on April 19, 1999.
59.052 [1981 c.292 §4; 1985 c.349 §7; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.055 Conditions of offer and sale of securities
It is unlawful for any person to offer or sell any security in this state, unless: The security is registered and the offer or sale is not in violation of any rule or order of the Director of the Department of Consumer and Business Services or any condition, limitation or restriction imposed by the director upon such registration; The security is exempt un…
59.065 Registration procedures; application; fees; rules
The Director of the Department of Consumer and Business Services by rule shall establish procedures for registering securities. The director may coordinate registration in this state with any federal securities Act or national registration system. Every registration application submitted shall be accompanied by a fee. The director shall set the fee by rule …
59.070 Amended registration application; when required; fees
A registrant under ORS 59.065 shall amend the registration application submitted under ORS 59.065 when there are material changes in the terms and conditions of the original registration. “Material changes in the terms and conditions of the original registration” includes an increase in the aggregate amount of securities to be offered in Oregon, change in th…
59.075 Registration by director; expiration; renewal; fee; rules
The Director of the Department of Consumer and Business Services shall register the securities unless the director finds that registration should be denied on one or more of the grounds specified in ORS 59.105. The securities may thereafter be sold in accordance with the registration and any conditions, limitations or restrictions imposed by the director. E…
59.078 [1973 c.366 §8; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.085 Conditions imposed on registration
The Director of the Department of Consumer and Business Services may, by rule or order, impose on a registration such conditions, limitations and restrictions as the director deems appropriate to make the issue fair, just and equitable, including the following: That a prospectus containing any designated part of the information submitted in connection with …
59.095 Approval of plan to issue securities in exchange for other securities, claims or property
The proponents of a plan pursuant to which a security is to be issued in exchange for one or more bona fide outstanding securities, claims or property interests, or partly in such exchange and partly for cash, except a security the issuance of which is under supervision, regulation or control by the Public Utility Commission of this state, may request approv…
59.105 Denial, suspension or revocation of registration
Except as provided in subsection (2) of this section, the Director of the Department of Consumer and Business Services may by order deny, suspend or revoke any registration, if the director finds that: The proposed plan of business of the issuer, the characteristics and terms of sale of the securities to be sold, or the proposed methods of sale and distribu…
59.110 [Amended by 1953 c.690 §3; 1955 c.201 §1; 1957 c.47 §1; 1963 c.244 §1; 1965 c.241 §2; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.115 Liability in connection with sale or successful solicitation of sale of securities; recovery by purchaser; limitations on proceeding; attorney fees
A person is liable as provided in subsection (2) of this section to a purchaser of a security if the person: Sells or successfully solicits the sale of a security, other than a federal covered security, in violation of the Oregon Securities Law or of any condition, limitation or restriction imposed upon a registration or license under the Oregon Securities …
59.120 [Amended by 1955 c.196 §1; 1957 c.116 §1; 1963 c.244 §2; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.125 Effect of notice of offer to repay purchaser; exceptions; registration of transaction
Except as provided in subsection (3) of this section, no action or suit may be commenced under ORS 59.115 if the purchaser has received before suit a written notice as outlined in subsection (2) of this section. The notice shall contain: An offer to pay the amount specified in ORS 59.115 (2)(a) upon tender of the security; and A statement of the effect on…
59.127 Liability in connection with purchase or successful solicitation of purchase of securities; recovery by seller; limitations on proceeding; attorney fees
A person is liable as provided in subsection (2) of this section to the person selling the security, if the person: Purchases or successfully solicits the purchase of a security, other than a federal covered security, in violation of any condition, limitation or restriction imposed upon a registration under the Oregon Securities Law; or Purchases or succes…
59.130 [Amended by 1953 c.549 §138; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.131 Effect of notice of intent to return unlawfully purchased security; contents of notice; registration of transaction
Except as provided in subsection (3) of this section, no action or suit may be commenced under ORS 59.127 if the seller has received before suit a written notice of intent to return the security as outlined in subsection (2) of this section. The notice shall contain: An offer to tender the security and interest from the date of purchase, at a rate equal to…
59.135 Fraud and deceit with respect to securities or securities business
It is unlawful for any person, directly or indirectly, in connection with the purchase or sale of any security or the conduct of a securities business or for any person who receives any consideration from another person primarily for advising the other person as to the value of securities or their purchase or sale, whether through the issuance of analyses or…
59.137 Liability in connection with violation of ORS 59.135; damages; defense; attorney fees; limitations on proceeding
Any person who violates or materially aids in a violation of ORS 59.135 (1), (2) or (3) is liable to any purchaser or seller of the security for the actual damages caused by the violation, including the amount of any commission, fee or other remuneration paid, together with interest at the rate specified in ORS 82.010 for judgments for the payment of money, …
59.140 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.145 Effect of notice filing, registration or license
Neither the fact that a notice filing or an application for registration or a license under the Oregon Securities Law has been filed nor the fact that a person is effectively licensed or a security is effectively registered constitutes a finding by the Director of the Department of Consumer and Business Services that any document filed under the Oregon Secur…
59.150 [Amended by 1957 c.45 §1; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.155 Director is agent for service of process; manner of service; exceptions
The Director of the Department of Consumer and Business Services shall be an agent for the following persons upon whom may be served at any time any process, notice or demand in a civil proceeding under the Oregon Securities Law, including a proceeding brought by the director: Every licensee or registrant or applicant for a license or registration of a secu…
59.160 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.165 Licensing of broker-dealers, investment advisers and salespersons required; rules
It is unlawful for any person to transact business in this state as a broker-dealer or salesperson unless the person is licensed under the Oregon Securities Law. A broker-dealer or state investment adviser may not be licensed in this state unless the broker-dealer or state investment adviser has at least one salesperson licensed in this state. It is unlawf…
59.170 [Amended by 1961 c.352 §1; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.175 Procedures for notice filing and licensing; rules; examination; bond, letter of credit or other security; insurance; filing trade name or assumed business name; fees
The Director of the Department of Consumer and Business Services by rule shall establish procedures for notice filings required of federal covered investment advisers as well as procedures for licensing broker-dealers, state investment advisers, investment adviser representatives and salespersons. The director may coordinate notice filings or licensing with …
59.180 [Amended by 1957 c.48 §1; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.185 Expiration of license; rules for renewal; change in personnel
Every license of a broker-dealer or state investment adviser expires one year after the date of issuance unless the Director of the Department of Consumer and Business Services establishes a different expiration date for purposes of coordination with any national registration or licensing system. Every license of an issuer’s or owner’s salesperson expires w…
59.190 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.193 [1973 c.366 §9; 1975 c.491 §3; 1985 c.349 §19; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.195 Licensees to keep records; inspection; filing of financial reports
Subject to the provisions of section 15 of the Securities Exchange Act of 1934, as amended, and section 222 of the Investment Advisers Act of 1940, as amended, every broker-dealer, state investment adviser, investment adviser representative and salesperson shall make and keep such accounts, correspondence, memoranda, papers, books and other records as the Di…
59.200 [Amended by 1955 c.198 §1; 1957 c.58 §1; 1959 c.280 §1; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.205 Grounds for denying, suspending, revoking or imposing condition or restriction on license
Except as provided in ORS 59.215, the Director of the Department of Consumer and Business Services may by order deny, suspend or revoke, or impose conditions or restrictions on, a license of a person as a broker-dealer, state investment adviser, investment adviser representative or salesperson if the director finds that the applicant or licensee: Is insolve…
59.210 [Amended by 1955 c.179 §1; repealed by 1963 c.244 §3 (59.211 enacted in lieu of 59.210)]repealed
No operative statutory text appears at this designation in the selected edition.
59.211 [1963 c.244 §4 (enacted in lieu of 59.210); repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.215 Action against applicant or licensee for act or omission of associate; exceptions
The Director of the Department of Consumer and Business Services may enter an order against the applicant or licensee under ORS 59.205 if any partner, officer or director of a broker-dealer or state investment adviser, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the broker-dealer or …
59.220 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.225 Cancellation of license or application; application for withdrawal; effect of suspension or revocation
If the Director of the Department of Consumer and Business Services finds that an applicant or licensee has ceased to do business as a broker-dealer, state investment adviser, investment adviser representative or salesperson, or has failed to maintain a bond or other security required by ORS 59.175 (4), or has failed to maintain an errors and omissions insur…
59.230 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.235 General supervision over persons dealing in securities
Subject to section 18 of the Securities Act of 1933, as amended, section 15 of the Securities Exchange Act of 1934, as amended, and sections 203A and 222 of the Investment Advisers Act of 1940, as amended, the Director of the Department of Consumer and Business Services shall have general supervision and control over all issuers, registrants of securities, b…
59.240 [Repealed by 1955 c.198 §2]repealed
No operative statutory text appears at this designation in the selected edition.
59.245 Investigations; publicity with respect to violations; confidentiality of materials; exceptions; cease and desist order
The Director of the Department of Consumer and Business Services may: Make such public or private investigations within or outside this state as the director deems necessary to determine whether a person has violated or is about to violate any provision of the Oregon Securities Law or any rule or order of the director, or to aid in the enforcement of the Or…
59.250 [Amended by 1963 c.244 §5; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.255 Enjoining violations; fine; appointment of receiver; attorney fees; damages to private parties
Whenever it appears to the Director of the Department of Consumer and Business Services that a person has engaged, is engaging or is about to engage in an act or practice constituting a violation of any provision of the Oregon Securities Law or any rule or order of the director, the director may bring suit in the name and on behalf of the State of Oregon in …
59.260 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.265 Procedure when assets or capital of broker-dealer or investment adviser found impaired; involuntary liquidation
When the Director of the Department of Consumer and Business Services ascertains that the assets or capital of any broker-dealer not otherwise registered under section 15 of the Securities Exchange Act of 1934, as amended, or state investment adviser that has its principal place of business in this state are impaired, or that such person’s affairs are in an …
59.275 Burden of proof
It is not necessary to negative any of the exemptions or classifications provided in the Oregon Securities Law in a complaint, action, information, indictment or other writ or proceeding laid or brought under the Oregon Securities Law; and the burden of proof of an exemption or classification shall be upon the party claiming the benefit of such exemption or …
59.285 Rules; financial statements
In accordance with this section and ORS chapter 183 the Director of the Department of Consumer and Business Services may from time to time make, amend and rescind such rules as are necessary to carry out the provisions of the Oregon Securities Law. The director may classify securities, persons and matters within the jurisdiction of the director, and prescrib…
59.295 Notice of orders; hearings on orders
Except as provided in ORS 183.745, upon the entry of an order under the Oregon Securities Law, the Director of the Department of Consumer and Business Services shall promptly give appropriate notice of the order as provided in this subsection. The notice shall state that a hearing will be held on the order if a written demand for hearing is filed with the di…
59.305 Judicial review of orders
A person aggrieved by an order of the Director of the Department of Consumer and Business Services which has been the subject of a timely application for hearing before the director shall be entitled to judicial review of the order under ORS chapter 183. A judgment of a reviewing court under ORS chapter 183 may not bar the director from thereafter vacating …
59.310 [Amended by 1957 c.46 §1; 1961 c.352 §2; 1963 c.244 §6; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.315 Oaths and subpoenas in proceedings before director
For the purpose of an investigation or proceeding under the Oregon Securities Law, 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 w…
59.320 [Amended by 1961 c.352 §3; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.325 Certified copies of documents; fee; effect of certification
The Director of the Department of Consumer and Business Services shall furnish to any person, upon payment of a fee established by rule, copies (certified if requested) of any document which is a matter of public record. In a proceeding or prosecution under the Oregon Securities Law, a copy so certified shall be prima facie evidence of the contents of the en…
59.330 [Amended by 1961 c.280 §6; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.331 Scope of Attorney General powers; consent of director; powers of circuit court; damages, restitution, disgorgement and other penalties
Subject to subsection (2) of this section and after providing notice and an opportunity to participate to the Director of the Department of Consumer and Business Services, the Attorney General may: Make public or private investigations within or outside this state as the Attorney General considers necessary to: Determine whether a person has violated or is…
59.335 Application of certain sections
ORS 59.055, 59.115, 59.125, 59.145 and 59.165 (1) apply to persons who sell or offer to sell when: An offer to sell is made in this state; or An offer to buy is made and accepted in this state. ORS 59.145 and 59.165 (1) apply to persons who buy or offer to buy when: An offer to buy is made in this state; or An offer to sell is made and accepted in this …
59.340 [Amended by 1963 c.244 §7; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.345 When offer to sell or buy is made in this state
For the purpose of ORS 59.335, an offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer: Originates from this state; or Is directed by the offeror to this state and received at the place to which it is directed (or at any post office in this state in the case of a mailed offer). For the pu…
59.350 Treatment of certain transactions
For purposes of ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995: A transaction with spouses married to each other is treated as a transaction with one person. The securities may be held jointly or individually. A transaction with an entity is treated as a transaction with one person. However, if an entity is formed substantially for the purpose o…
59.355 Corporations subject to other laws
Nothing in the Oregon Securities Law relieves a corporation from making reports required by law to be made to the Director of the Department of Consumer and Business Services or to any other state officer, or from paying the fees to be paid by corporations. The Oregon Securities Law: Does not repeal any law regulating the organization of corporations in thi…
59.365 Common-law and statutory rights not limited
Nothing in the Oregon Securities Law limits any statutory or common-law right of a person to bring an action in any court for an act involved in the sale of securities, or the right of the state to punish a person for a violation of any law.
59.370 Limitation on liability for good faith act or omission; reports regarding salespersons or investment adviser representatives; limitation on liability related to reports; rules
Provisions of the Oregon Securities Law imposing civil or criminal liability do not apply to an act done or omitted in good faith in conformity with a rule or order of the Director of the Department of Consumer and Business Services, notwithstanding that the rule or order may later be amended or rescinded or be determined by judicial or other authority to be…
59.375 [1967 c.537 §34; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.405 [1971 c.641 §3; 1975 c.491 §4; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.410 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.415 [1971 c.641 §4; 1981 c.897 §11; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.420 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.425 [1971 c.641 §5; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.430 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.435 [1971 c.641 §6; 1981 c.897 §12; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.440 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.445 [1971 c.641 §7; repealed by 1987 c.603 §30]repealed
No operative statutory text appears at this designation in the selected edition.
59.450 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.451 Prohibition against filing false statement by person under investigation or examination
It is unlawful for any person who is the subject of an investigation under ORS 59.245 or examination under ORS 59.235, directly or indirectly, to make or file or cause to be made or filed with the Director of the Department of Consumer and Business Services any statement, report or document which is false in any material respect or manner. (Financial Exploi…
59.480 Definitions for ORS 59.480 to 59.505
As used in ORS 59.480 to 59.505: “Financial exploitation” means: Wrongfully taking assets, funds or property belonging to or intended for the use of another person; Alarming another person by conveying a threat to wrongfully take or appropriate money or property of the person if the person would reasonably believe that the threat conveyed would be carried…
59.485 Required reporting by certain securities professionals of suspected financial exploitation
Except as provided in subsection (4) of this section, a qualified individual who has reasonable cause to believe that financial exploitation of a vulnerable person with whom the qualified individual comes into contact has occurred, has been attempted or is being attempted shall, as soon as is practicable, notify the Department of Consumer and Business Servic…
59.490 Notifications to third parties
If a qualified individual has reasonable cause to believe that financial exploitation of a vulnerable person with whom the qualified individual comes into contact has occurred, has been attempted or is being attempted, the qualified individual may notify any third party who was previously designated by the vulnerable person to receive information from the qu…
59.495 Delay of disbursements; notifications
A broker-dealer or state investment adviser may delay a disbursement from an account of a vulnerable person or an account on which a vulnerable person is a beneficiary if: The broker-dealer, the state investment adviser or a qualified individual reasonably believes that the requested disbursement might result in financial exploitation of a vulnerable person…
59.500 Limitation on liability
Qualified individuals, broker-dealers and state investment advisers are not liable under state law for the following actions, if performed in good faith, with reasonable cause and with the exercise of reasonable care: Disclosing information under ORS 59.485, 59.490 or 59.505; Failing to notify a vulnerable person of a disclosure of information under ORS 59…
59.505 Provision of records to law enforcement and certain state agencies
Upon request of the Department of Consumer and Business Services, the Department of Human Services or a law enforcement agency, a broker-dealer or state investment adviser shall provide copies of records related to any suspected financial exploitation of a vulnerable person to the requester. The records may include historical records if relevant to suspected…
59.510 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.520 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.530 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.535 Definitions for ORS 59.535 to 59.585
For the purposes of ORS 59.535 to 59.585, unless the context otherwise requires: “Beneficiary form” means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner. “Devisee” means any person designated in a will to…
59.540 Registration in beneficiary form; sole or joint tenancy ownership
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by th…
59.545 Registration in beneficiary form; applicable law
A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state lis…
59.550 Origination of registration in beneficiary form
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
59.555 Form of registration in beneficiary form
Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD,” or by the words “pay on death” or the abbreviation “POD,” after the name of the registered owner and before the name of a beneficiary.
59.560 Effect of registration in beneficiary form
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
59.565 Ownership on death of owner
On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered i…
59.570 Protection of registering entity
A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by ORS 59.535 to 59.585. By accepting a request for regi…
59.575 Nontestamentary transfer on death
A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and ORS 59.535 to 59.585, and is not testamentary. ORS 59.535 to 59.585 do not limit the rights of creditors of security owners against beneficiaries and other transferees under …
59.580 Terms, conditions and forms for registration
A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for registrations in beneficiary form and for implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for rere…
59.585 Short title; rules of construction
ORS 59.535 to 59.585 shall be known as and may be cited as the Uniform TOD Security Registration Act. ORS 59.535 to 59.585 shall be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of ORS 59.535 to 59.585 among states enacting it. Unless displaced by the particular provis…
59.610 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.620 [Repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.660 [Repealed by 2007 c.661 §28]repealed
No operative statutory text appears at this designation in the selected edition.
59.670 [Amended by 1981 c.897 §13; 1995 c.618 §35; repealed by 2007 c.661 §28]repealed
No operative statutory text appears at this designation in the selected edition.
59.680 [Amended by 1971 c.200 §5; 1973 c.794 §14; repealed by 2007 c.661 §28]repealed
No operative statutory text appears at this designation in the selected edition.
59.690 [Repealed by 2007 c.661 §28]repealed
No operative statutory text appears at this designation in the selected edition.
59.700 [Repealed by 2007 c.661 §28]repealed
No operative statutory text appears at this designation in the selected edition.
59.710 Definitions for ORS 59.710 to 59.830
As used in ORS 59.710 to 59.830, unless the context indicates otherwise: “Security,” “securities” or “securities or commodities,” mean and include all evidences of debt or property and options for their purchase, shares in any corporation or association, bonds, coupons, scrip, rights, choses in action, and other evidences of debt or property, and options fo…
59.720 Application of ORS 59.710 to 59.830 to real estate contracts and brokers
The provisions of ORS 59.710 to 59.830 shall not apply to any contract, agreement, sale, purchase, lease, conveyance or mortgage pertaining to real estate situated in this state, nor to the business of real estate brokers or principal real estate brokers, as defined in ORS 696.010, in so far as such business pertains to real estate located in this state.
59.730 Making contract involving securities without intending a bona fide sale or purchase
No person, whether acting in the person’s own right, or as the officer, agent, servant, correspondent or representative of another, shall, as broker make or offer to make, assist in making or offering to make, perform or take part in any contract respecting the purchase or sale, either upon credit or margin, of any securities or commodities more than once, a…
59.740 Conducting bucket shop or repeatedly making forbidden contracts
No person shall as owner, keeper, proprietor or person in charge of, or as officer, director, stockholder, agent, servant, correspondent or representative of any person, keep, conduct or operate any bucket shop, or knowingly permit or induce any person, whether acting in the person’s own right or as officer, agent, servant, correspondent or representative of…
59.750 Receipt or communication of prices for purpose of forbidden contract
No person shall receive, communicate, exhibit or display in any manner any statement of quotations or prices of securities or commodities with an intent to make or offer to make, or to assist in making, or offering to make any contract prohibited by ORS 59.720 to 59.810.
59.760 Reporting false sale of securities with intent to deceive
No person shall, with intent to deceive, report or publish, or cause to be reported or published as a purchase or sale of stocks or bonds, any transaction whereby no actual change of ownership or interest is effected.
59.770 Manipulating market by pretended sales
No person shall inflate, depress or cause fluctuations in, or attempt to inflate, depress or cause fluctuations in, or combine or conspire with any other person to inflate, depress or cause fluctuations in, the market prices of stocks or bonds, or of an issue or any part of an issue of such stocks or bonds, by means of pretended purchases and sales, or by an…
59.780 Broker’s trading against customer’s order; violation of ORS 59.780 to 59.800 by member of broker’s firm
No broker, employed by a customer to buy and carry upon margin stocks or bonds, while acting as broker for the customer in respect to such stocks or bonds, shall sell for the broker’s own account the same kind or issue of stocks or bonds, with intent to trade against the customer’s order. No broker, employed by a customer to sell stocks or bonds, while acti…
59.790 Insolvent broker-dealer receiving securities from customer
No broker-dealer engaged in the business of purchasing and selling stocks or bonds as a broker-dealer, knowing that the broker-dealer is insolvent, shall accept or receive from a customer ignorant of the insolvency, money, stocks or bonds belonging to the customer, except in liquidation or as security for an existing indebtedness, and thereby cause the custo…
59.800 Pledge or sale by broker-dealer of customer’s securities
No broker-dealer engaged in the business of purchasing and selling stocks or bonds as a broker-dealer shall: While having in the possession of the broker-dealer, for safekeeping or otherwise, stocks or bonds belonging to a customer, without having any lien thereon or any special property therein, pledge or dispose thereof without the customer’s consent; or …
59.810 Delivery to customer of true statement of purchase or sale made by broker
No person engaged in the business of purchasing or selling stocks or bonds as a broker shall refuse to deliver to each customer on whose behalf a purchase or sale of such securities is made by the person, within five days after written demand therefor made within six months following the purchase or sale, a statement or memorandum of the purchase or sale whi…
59.820 Actions against corporation for second violation
If a domestic corporation is convicted of a second offense under ORS 59.730 to 59.810, the circuit court has jurisdiction over an action by the Attorney General, in the name of the people, to dissolve the corporation. If a foreign corporation is convicted of a second offense under ORS 59.730 to 59.810, the circuit court has jurisdiction in an action brought…
59.830 Self-incrimination by witness; immunity from prosecution
No person shall be excused from attending and testifying, or producing any book, paper or other document before any court or magistrate, upon any trial, investigation or proceeding initiated by the district attorney, grand jury or court for a violation of any of the provisions of ORS 59.730 to 59.810, upon the ground that the testimony or evidence, documenta…
59.840 [1993 c.508 §1; 1995 c.129 §1; 1995 c.622 §13; 1997 c.211 §1; 1997 c.631 §377; 1999 c.36 §1; 2001 c.377 §40; 2001 c.952 §1; 2003 c.364 §47; 2003 c.655 §48; 2009 c.863 §14; renumbered 86A.100 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.845 [1993 c.508 §2; 1999 c.36 §2; renumbered 86A.103 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.850 [1993 c.508 §3; 1995 c.129 §2; 1997 c.631 §378; 1999 c.36 §3; 2009 c.863 §15; renumbered 86A.106 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.855 [1993 c.508 §4; 1995 c.129 §3; 2009 c.863 §16; renumbered 86A.109 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.860 [1993 c.508 §5; 2008 c.38 §1; 2009 c.863 §17; renumbered 86A.112 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.865 [1993 c.508 §6; 2001 c.952 §10; 2009 c.863 §18; renumbered 86A.115 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.870 [1993 c.508 §7; renumbered 86A.118 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.875 [1993 c.508 §8; 2009 c.863 §19; renumbered 86A.121 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.880 [1993 c.508 §9; 2001 c.952 §11; 2009 c.863 §20; renumbered 86A.124 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.885 [1993 c.508 §10; 2007 c.71 §15; renumbered 86A.127 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.890 [1993 c.508 §11; 1995 c.696 §12; renumbered 86A.130 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.895 [1993 c.508 §12; 2003 c.576 §187; renumbered 86A.133 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.900 [1993 c.508 §13; 2001 c.952 §12; 2009 c.863 §21; renumbered 86A.136 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.905 [1993 c.508 §14; 2001 c.952 §13; 2009 c.863 §22; renumbered 86A.139 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.910 [1993 c.508 §15; 2003 c.576 §322; renumbered 86A.142 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.915 [1993 c.508 §16; renumbered 86A.145 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.920 [1993 c.508 §17; renumbered 86A.148 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.925 [1993 c.508 §18; 1995 c.696 §13; 1999 c.1001 §1; 2005 c.97 §1; 2009 c.863 §23; renumbered 86A.151 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.930 [1993 c.508 §19; renumbered 86A.154 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.935 [1993 c.508 §20; 1995 c.191 §1; renumbered 86A.157 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.940 [1993 c.508 §20a; 1995 c.191 §2; renumbered 86A.160 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.945 [1993 c.508 §21; renumbered 86A.163 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.950 [1993 c.508 §22; renumbered 86A.166 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.955 [1993 c.508 §23; renumbered 86A.169 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.960 [1993 c.508 §24; renumbered 86A.172 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.962 [1999 c.36 §4; 2001 c.952 §14; 2009 c.863 §24; renumbered 86A.175 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.965 [1995 c.129 §5; renumbered 59.980 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
59.967 [2001 c.952 §3; 2009 c.863 §25; renumbered 86A.178 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.969 [2001 c.952 §4; 2003 c.526 §4; 2005 c.22 §40; 2008 c.38 §2; renumbered 86A.179 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.970 [2003 c.526 §2; 2005 c.22 §41; renumbered 86A.180 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.971 [2001 c.952 §6; 2003 c.526 §6; 2008 c.38 §3; 2009 c.863 §26; renumbered 86A.183 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.972 [2003 c.526 §3; 2009 c.863 §27; renumbered 86A.186 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.973 [2001 c.952 §7; 2003 c.526 §5; 2008 c.38 §4; renumbered 86A.187 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.975 [2001 c.952 §8; renumbered 86A.188 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.977 [2001 c.952 §9; 2005 c.97 §3; renumbered 86A.189 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.980 [Formerly 59.965; renumbered 86A.095 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.990 [Amended by 1955 c.180 §1; repealed by 1967 c.537 §36]repealed
No operative statutory text appears at this designation in the selected edition.
59.991 Criminal penalties for ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995; exceptions
Except as provided in subsection (3) of this section, violation of any provision of ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995 or any rule adopted by the Director of the Department of Consumer and Business Services under ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995, except ORS 59.315 (2) or 59.810, is a Class B felony. Violation …
59.992 [1993 c.508 §25; 1995 c.622 §14; 2005 c.97 §2; 2009 c.863 §28; renumbered 86A.990 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
59.995 Civil penalties for ORS 59.005 to 59.505, 59.710 to 59.830 and 59.991; exceptions
Except as provided in paragraphs (b) and (c) of this subsection, in addition to all other penalties and enforcement provisions provided by law, any person that violates or procures, aids or abets the violation of this section and ORS 59.005 to 59.505, 59.710 to 59.830 and 59.991 or any rule or order of the Director of the Department of Consumer and Business …
59.996 [1993 c.508 §26; 2008 c.38 §5; renumbered 86A.992 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.