Oregon Law
Law as of Jan 1, 2024
Chapter contents
59.005Short title 59.010[Repealed by 1967 c.537 §36] 59.015Definitions for Oregon Securities Law 59.020[Repealed by 1967 c.537 §36] 59.025Securities exempt from registration 59.030[Repealed by 1967 c.537 §36] 59.035Transactions exempt from registration 59.045Authority of director to deny, withdraw or condition exemptions 59.047[1981 c.292 §2; 1985 c.349 §5; repealed by 1987 c.603 §30] 59.049Federal covered securities exempt from registration; notice filings; fees; rules 59.050[1981 c.292 §3; 1985 c.349 §6; repealed by 1987 c.603 §30] 59.051Statutory references to federal law 59.052[1981 c.292 §4; 1985 c.349 §7; repealed by 1987 c.603 §30] 59.055Conditions of offer and sale of securities 59.065Registration procedures; application; fees; rules 59.070Amended registration application; when required; fees 59.075Registration by director; expiration; renewal; fee; rules 59.078[1973 c.366 §8; repealed by 1987 c.603 §30] 59.085Conditions imposed on registration 59.095Approval of plan to issue securities in exchange for other securities, claims or property 59.105Denial, suspension or revocation of registration 59.110[Amended by 1953 c.690 §3; 1955 c.201 §1; 1957 c.47 §1; 1963 c.244 §1; 1965 c.241 §2; repealed by 1967 c.537 §36] 59.115Liability in connection with sale or successful solicitation of sale of securities; recovery by purchaser; limitations on proceeding; attorney fees 59.120[Amended by 1955 c.196 §1; 1957 c.116 §1; 1963 c.244 §2; repealed by 1967 c.537 §36] 59.125Effect of notice of offer to repay purchaser; exceptions; registration of transaction 59.127Liability in connection with purchase or successful solicitation of purchase of securities; recovery by seller; limitations on proceeding; attorney fees 59.130[Amended by 1953 c.549 §138; repealed by 1967 c.537 §36] 59.131Effect of notice of intent to return unlawfully purchased security; contents of notice; registration of transaction 59.135Fraud and deceit with respect to securities or securities business 59.137Liability in connection with violation of ORS 59.135; damages; defense; attorney fees; limitations on proceeding 59.140[Repealed by 1967 c.537 §36] 59.145Effect of notice filing, registration or license 59.150[Amended by 1957 c.45 §1; repealed by 1967 c.537 §36] 59.155Director is agent for service of process; manner of service; exceptions 59.160[Repealed by 1967 c.537 §36] 59.165Licensing of broker-dealers, investment advisers and salespersons required; rules 59.170[Amended by 1961 c.352 §1; repealed by 1967 c.537 §36] 59.175Procedures for notice filing and licensing; rules; examination; bond, letter of credit or other security; insurance; filing trade name or assumed business name; fees 59.180[Amended by 1957 c.48 §1; repealed by 1967 c.537 §36] 59.185Expiration of license; rules for renewal; change in personnel 59.190[Repealed by 1967 c.537 §36] 59.193[1973 c.366 §9; 1975 c.491 §3; 1985 c.349 §19; repealed by 1987 c.603 §30] 59.195Licensees to keep records; inspection; filing of financial reports 59.200[Amended by 1955 c.198 §1; 1957 c.58 §1; 1959 c.280 §1; repealed by 1967 c.537 §36] 59.205Grounds for denying, suspending, revoking or imposing condition or restriction on license 59.210[Amended by 1955 c.179 §1; repealed by 1963 c.244 §3 (59.211 enacted in lieu of 59.210)] 59.211[1963 c.244 §4 (enacted in lieu of 59.210); repealed by 1967 c.537 §36] 59.215Action against applicant or licensee for act or omission of associate; exceptions 59.220[Repealed by 1967 c.537 §36] 59.225Cancellation of license or application; application for withdrawal; effect of suspension or revocation 59.230[Repealed by 1967 c.537 §36] 59.235General supervision over persons dealing in securities 59.240[Repealed by 1955 c.198 §2] 59.245Investigations; publicity with respect to violations; confidentiality of materials; exceptions; cease and desist order 59.250[Amended by 1963 c.244 §5; repealed by 1967 c.537 §36] 59.255Enjoining violations; fine; appointment of receiver; attorney fees; damages to private parties 59.260[Repealed by 1967 c.537 §36] 59.265Procedure when assets or capital of broker-dealer or investment adviser found impaired; involuntary liquidation 59.275Burden of proof 59.285Rules; financial statements 59.295Notice of orders; hearings on orders 59.305Judicial review of orders 59.310[Amended by 1957 c.46 §1; 1961 c.352 §2; 1963 c.244 §6; repealed by 1967 c.537 §36] 59.315Oaths and subpoenas in proceedings before director 59.320[Amended by 1961 c.352 §3; repealed by 1967 c.537 §36] 59.325Certified copies of documents; fee; effect of certification 59.330[Amended by 1961 c.280 §6; repealed by 1967 c.537 §36] 59.331Scope of Attorney General powers; consent of director; powers of circuit court; damages, restitution, disgorgement and other penalties 59.335Application of certain sections 59.340[Amended by 1963 c.244 §7; repealed by 1967 c.537 §36] 59.345When offer to sell or buy is made in this state 59.350Treatment of certain transactions 59.355Corporations subject to other laws 59.365Common-law and statutory rights not limited 59.370Limitation on liability for good faith act or omission; reports regarding salespersons or investment adviser representatives; limitation on liability related to reports; rules 59.375[1967 c.537 §34; repealed by 1987 c.603 §30] 59.405[1971 c.641 §3; 1975 c.491 §4; repealed by 1987 c.603 §30] 59.410[Repealed by 1967 c.537 §36] 59.415[1971 c.641 §4; 1981 c.897 §11; repealed by 1987 c.603 §30] 59.420[Repealed by 1967 c.537 §36] 59.425[1971 c.641 §5; repealed by 1987 c.603 §30] 59.430[Repealed by 1967 c.537 §36] 59.435[1971 c.641 §6; 1981 c.897 §12; repealed by 1987 c.603 §30] 59.440[Repealed by 1967 c.537 §36] 59.445[1971 c.641 §7; repealed by 1987 c.603 §30] 59.450[Repealed by 1967 c.537 §36] 59.451Prohibition against filing false statement by person under investigation or examination 59.480Definitions for ORS 59.480 to 59.505 59.485Required reporting by certain securities professionals of suspected financial exploitation 59.490Notifications to third parties 59.495Delay of disbursements; notifications 59.500Limitation on liability 59.505Provision of records to law enforcement and certain state agencies 59.510[Repealed by 1967 c.537 §36] 59.520[Repealed by 1967 c.537 §36] 59.530[Repealed by 1967 c.537 §36] 59.535Definitions for ORS 59.535 to 59.585 59.540Registration in beneficiary form; sole or joint tenancy ownership 59.545Registration in beneficiary form; applicable law 59.550Origination of registration in beneficiary form 59.555Form of registration in beneficiary form 59.560Effect of registration in beneficiary form 59.565Ownership on death of owner 59.570Protection of registering entity 59.575Nontestamentary transfer on death 59.580Terms, conditions and forms for registration 59.585Short title; rules of construction 59.610[Repealed by 1967 c.537 §36] 59.620[Repealed by 1967 c.537 §36] 59.660[Repealed by 2007 c.661 §28] 59.670[Amended by 1981 c.897 §13; 1995 c.618 §35; repealed by 2007 c.661 §28] 59.680[Amended by 1971 c.200 §5; 1973 c.794 §14; repealed by 2007 c.661 §28] 59.690[Repealed by 2007 c.661 §28] 59.700[Repealed by 2007 c.661 §28] 59.710Definitions for ORS 59.710 to 59.830 59.720Application of ORS 59.710 to 59.830 to real estate contracts and brokers 59.730Making contract involving securities without intending a bona fide sale or purchase 59.740Conducting bucket shop or repeatedly making forbidden contracts 59.750Receipt or communication of prices for purpose of forbidden contract 59.760Reporting false sale of securities with intent to deceive 59.770Manipulating market by pretended sales 59.780Broker’s trading against customer’s order; violation of ORS 59.780 to 59.800 by member of broker’s firm 59.790Insolvent broker-dealer receiving securities from customer 59.800Pledge or sale by broker-dealer of customer’s securities 59.810Delivery to customer of true statement of purchase or sale made by broker 59.820Actions against corporation for second violation 59.830Self-incrimination by witness; immunity from prosecution 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] 59.845[1993 c.508 §2; 1999 c.36 §2; renumbered 86A.103 in 2009] 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] 59.855[1993 c.508 §4; 1995 c.129 §3; 2009 c.863 §16; renumbered 86A.109 in 2009] 59.860[1993 c.508 §5; 2008 c.38 §1; 2009 c.863 §17; renumbered 86A.112 in 2009] 59.865[1993 c.508 §6; 2001 c.952 §10; 2009 c.863 §18; renumbered 86A.115 in 2009] 59.870[1993 c.508 §7; renumbered 86A.118 in 2009] 59.875[1993 c.508 §8; 2009 c.863 §19; renumbered 86A.121 in 2009] 59.880[1993 c.508 §9; 2001 c.952 §11; 2009 c.863 §20; renumbered 86A.124 in 2009] 59.885[1993 c.508 §10; 2007 c.71 §15; renumbered 86A.127 in 2009] 59.890[1993 c.508 §11; 1995 c.696 §12; renumbered 86A.130 in 2009] 59.895[1993 c.508 §12; 2003 c.576 §187; renumbered 86A.133 in 2009] 59.900[1993 c.508 §13; 2001 c.952 §12; 2009 c.863 §21; renumbered 86A.136 in 2009] 59.905[1993 c.508 §14; 2001 c.952 §13; 2009 c.863 §22; renumbered 86A.139 in 2009] 59.910[1993 c.508 §15; 2003 c.576 §322; renumbered 86A.142 in 2009] 59.915[1993 c.508 §16; renumbered 86A.145 in 2009] 59.920[1993 c.508 §17; renumbered 86A.148 in 2009] 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] 59.930[1993 c.508 §19; renumbered 86A.154 in 2009] 59.935[1993 c.508 §20; 1995 c.191 §1; renumbered 86A.157 in 2009] 59.940[1993 c.508 §20a; 1995 c.191 §2; renumbered 86A.160 in 2009] 59.945[1993 c.508 §21; renumbered 86A.163 in 2009] 59.950[1993 c.508 §22; renumbered 86A.166 in 2009] 59.955[1993 c.508 §23; renumbered 86A.169 in 2009] 59.960[1993 c.508 §24; renumbered 86A.172 in 2009] 59.962[1999 c.36 §4; 2001 c.952 §14; 2009 c.863 §24; renumbered 86A.175 in 2009] 59.965[1995 c.129 §5; renumbered 59.980 in 2001] 59.967[2001 c.952 §3; 2009 c.863 §25; renumbered 86A.178 in 2009] 59.969[2001 c.952 §4; 2003 c.526 §4; 2005 c.22 §40; 2008 c.38 §2; renumbered 86A.179 in 2009] 59.970[2003 c.526 §2; 2005 c.22 §41; renumbered 86A.180 in 2009] 59.971[2001 c.952 §6; 2003 c.526 §6; 2008 c.38 §3; 2009 c.863 §26; renumbered 86A.183 in 2009] 59.972[2003 c.526 §3; 2009 c.863 §27; renumbered 86A.186 in 2009] 59.973[2001 c.952 §7; 2003 c.526 §5; 2008 c.38 §4; renumbered 86A.187 in 2009] 59.975[2001 c.952 §8; renumbered 86A.188 in 2009] 59.977[2001 c.952 §9; 2005 c.97 §3; renumbered 86A.189 in 2009] 59.980[Formerly 59.965; renumbered 86A.095 in 2009] 59.990[Amended by 1955 c.180 §1; repealed by 1967 c.537 §36] 59.991Criminal penalties for ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995; exceptions 59.992[1993 c.508 §25; 1995 c.622 §14; 2005 c.97 §2; 2009 c.863 §28; renumbered 86A.990 in 2009] 59.995Civil penalties for ORS 59.005 to 59.505, 59.710 to 59.830 and 59.991; exceptions 59.996[1993 c.508 §26; 2008 c.38 §5; renumbered

Chapter 59 — Securities Regulation

ORS 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 customer to lose in whole or in part such money, stocks or bonds. A broker-dealer shall

be deemed insolvent within the meaning of this section whenever the aggregate of the property of the broker-dealer is not, at a fair valuation, sufficient in amount to pay the debts of the broker-dealer.

Official sources · 2Tap to view provenance and version history

Online copy of the published ORS edition

Provenance

Version history

Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.