Or. Admin. Code § 441-895-0015

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

Section 441-895-0015 - Biographical Information Required for Student Loan Servicer License Application

(1) Each of the following persons listed in section (2) of this rule shall submit a Form MU2 to the director of the Department of Consumer and Business Services through the NMLS.

(2) This rule applies to:

(a) Any director, officer or general partner of a business entity;

(b) A managing member of a limited liability company;

(c) A person that has a direct or indirect right to vote 10 percent or more of the securities of a business entity that have voting rights or the power to sell or cause the sale of 10 percent or more of any class of a business entity's securities;

(d) A person that has contributed 10 percent or more to a partnership's capital or has the right to receive a distribution of 10 percent or more of a partnership's capital or assets upon dissolution; or

(e) A person that, under the terms of a contract or because the person has an ownership interest in another person, has the power to manage or set policies for the other person or otherwise direct the other person's operations or affairs.

Or. Admin. Code § 441-895-0015

FSR 2-2022, adopt filed 06/27/2022, effective 7/1/2022

Statutory/Other Authority: Or Laws 2021, ch 651, secs 1-10

Statutes/Other Implemented: Or Laws 2021, ch 651, secs 2-10