Or. Admin. Code § 441-735-0015

Current through Register Vol. 64, No. 1, January 1, 2025

Section 441-735-0015 - Title Loan Licensee Lending Practices

A title loan licensee may not:

(1) Retain the title to the vehicle used as security on a loan for more than thirty business days before submitting the application to be recorded as a lien-holder on the title or taking other commercially reasonable steps to be added as a security interest holder of the vehicle;

(2) Unreasonably withhold documents on a loan secured by a borrower's vehicle for more than three business days if the loan is paid by certified or guaranteed funds.

Or. Admin. Code § 441-735-0015

FCS 7-2010, f. & cert. ef. 6-4-10; FCS 2-2012, f. & cert. ef. 7-23-12

Stat. Auth.: 2010 Or Laws ch. 23, §27

Stats. Implemented: 2010 Or Laws ch. 23, §§5 &15