Or. Admin. Code § 863-050-0150

Current through Register Vol. 63, No. 12, December 1, 2024

Section 863-050-0150 - Annual Report; Financial Statements; Audit or Examination Expenses

(1) The escrow agent must pay to the Agency the reasonable expenses of an audit or examination as authorized by ORS 696.541.

(2) The Real Estate Commissioner may require an escrow agent to submit to the Commissioner an independent audit by a certified public accountant or a public accountant, conducted at the escrow agent's expense. The Commissioner may specify the nature and scope of the independent audit. If an escrow agent submits a required independent audit to the Commissioner or the Commissioner's authorized representative, this does not preclude any subsequent audit within the same year.

REC 29, f. 12-9-70, ef. 1-10-71; REC 34, f. 2-8-73, ef. 3-1-73; REC 5-1978, f. 11-15-78, ef. 1-1-79; REC 2-1981, f. 10-30-81, ef. 11-1-81; REC 6-1984, f. 6-18-84, ef. 7-1-84; REA 2-1990, f. 4-18-90, cert. ef. 7-1-90; REA 5-1992, f. 8-4-92, cert. ef. 9-1-92; REA 2-1997, f. 6-18-97, cert. ef. 7-1-97; REA 5-2003, f. 12-24-03, cert. ef. 1-1-04; REA 10-2008, f. 12-15-08, cert. ef. 1-1-09; REA 1-2009, f. 12-15-09, cert. ef. 1-1-10; REA 31-2018, minor correction filed 01/05/2018, effective 1/5/2018

Statutory/Other Authority: ORS 696.385 & 696.54

Statutes/Other Implemented: ORS 696.534 & 696.541