Oregon Law
Law as of Jan 1, 2024
Chapter contents
717.010[1965 c.503 §2; 1973 c.797 §403; 1985 c.762 §51; 1987 c.373 §55; 1993 c.744 §23; repealed by 1999 c.571 §30] 717.020[1965 c.503 §1; repealed by 1999 c.571 §30] 717.030[1965 c.503 §3; 1973 c.797 §404; repealed by 1999 c.571 §30] 717.040[1965 c.503 §4; 1973 c.797 §405; repealed by 1999 c.571 §30] 717.050[1965 c.503 §5; 1973 c.797 §406; repealed by 1999 c.571 §30] 717.060[1965 c.503 §6; 1973 c.797 §407; repealed by 1999 c.571 §30] 717.070[1965 c.503 §7(1); 1973 c.797 §408; 1977 c.135 §40; repealed by 1999 c.571 §30] 717.075[1973 c.797 §409; repealed by 1999 c.571 §30] 717.080[1965 c.503 §7(2), (3); 1973 c.797 §410; 1991 c.331 §118; 1997 c.631 §527; repealed by 1999 c.571 §30] 717.084[1973 c.797 §411; repealed by 1999 c.571 §30] 717.086[1973 c.797 §412; 1991 c.331 §119; repealed by 1999 c.571 §30] 717.090[1965 c.503 §8; 1973 c.797 §413; 1991 c.331 §120; repealed by 1999 c.571 §30] 717.095[1977 c.135 §39; 1985 c.762 §52; repealed by 1999 c.571 §30] 717.100[1965 c.503 §9; 1973 c.797 §414; repealed by 1999 c.571 §30] 717.110[1965 c.503 §10; 1973 c.797 §415; repealed by 1999 c.571 §30] 717.120[1965 c.503 §11; 1973 c.797 §416; repealed by 1999 c.571 §30] 717.130[1965 c.503 §12; 1973 c.797 §417; repealed by 1999 c.571 §30] 717.140[1965 c.503 §13; repealed by 1999 c.571 §30] 717.150[1965 c.503 §14; 1973 c.797 §418; repealed by 1999 c.571 §30] 717.160[1955 c.503 §15; 1971 c.734 §173; 1973 c.797 §419; repealed by 1999 c.571 §30] 717.200Definitions 717.205License required to conduct money transmission business; relationship to banking; licensing program 717.210Exemptions; waiver; rules 717.215Requirements for licensees; net worth; permissible investments 717.220License application; rules 717.225Security devices 717.230Application fee 717.235License issuance; grounds for disapproval of application; appeals 717.240License renewal; annual fee; renewal report; rules 717.245Events requiring filing of report with director 717.250Notice of change or acquisition of control of licensee; waiver; rules 717.255Examination of licensee; notice; costs 717.260Retention of records 717.265Suspension or revocation of license; appeals 717.270Conduct of money transmission business through authorized delegates; contracts 717.275Requirements for authorized delegates 717.280Order suspending or barring authorized delegate; grounds; appeals 717.285Limit on responsibility of licensee; costs and attorney fees 717.290Cease and desist order; appeals 717.295Injunctions; consent orders 717.300Subpoena authority 717.305Consent to jurisdiction of courts; director as agent for service of process 717.310Rules 717.315Deposit of moneys in Consumer and Business Services Fund 717.320Short title 717.900Civil penalties 717.905Criminal penalties 717.910[1975 c.544 §54; 1991 c.734 §95; repealed by 1999 c.571 §30] 717.990[1965 c.503 §16; 1973 c.797 §420; repealed by 1975 c.544 §62]

Chapter 717 — Money Transmission

ORS 717.205 License required to conduct money transmission business; relationship to banking; licensing program

(1)

A person, other than a person that is exempt under ORS 717.210, may not conduct a money transmission business without a license that the Director of the Department of Consumer and Business Services issues in accordance with ORS 717.200 to 717.320, 717.900 and 717.905.

(2)

A licensee may conduct business in this state at one or more locations that the licensee owns directly or indirectly, through one or more authorized delegates, or both. A licensee is required to obtain only one license under ORS 717.200 to 717.320, 717.900 and 717.905.

(3)

Conducting a money transmission business does not alone constitute banking or branch banking for the purposes of the Bank Act.

(4)

The director has jurisdiction over a person that conducts a money transmission business whether or not the person is a licensee or authorized delegate.

(5)

The director, consistent with the requirements of ORS 717.200 to 717.320, 717.900 and 717.905, may administer a program to issue and renew licenses for money-transmission businesses by means of an agreement with the Nationwide Multistate Licensing System.

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.