Oregon Revised Statutes Chapter 696 § 696.997 — Penalties for violation of ORS 696.653, 696.662 or 696.665

Penalties for violation of ORS 696.653, 696.662 or 696.665. (1) Knowingly violating any of the provisions of ORS 696.653, 696.662 or 696.665 is a Class A misdemeanor. (2) Any officer, director, shareholder, member, manager or agent of a corporation, limited liability company, partnership or association, who personally participates in or is an accessory to any violation of ORS 696.653, 696.662 or 696.665 by the corporation, limited liability company, partnership or association, is subject to the penalties prescribed in subsection (1) of this section. (3) Any person that violates ORS 696.653 may be required by the Real Estate Commissioner to forfeit and pay to the General Fund of the State Treasury a civil penalty in an amount determined by the commissioner of: (a) Not less than $1,000 nor more than $2,500 for the first offense of unregistered residential property wholesaling activity; and (b) Not less than $2,500 nor more than $5,000 for the second and subsequent offenses of unregistered residential property wholesaling activity. (4) In addition to the civil penalty set forth in subsection (3) of this section, any person that violates ORS 696.653 may be required by the commissioner to forfeit and pay to the General Fund of the State Treasury a civil penalty in an amount determined by the commissioner, but not to exceed the amount by which such person profited in any transaction that violates ORS 696.653. (5) No person engaging in residential property wholesaling activity may maintain any suit or action in any of the courts of this state to enforce any claim arising out of residential property wholesaling activity without alleging and proving that the person was registered, or exempt from registering, under ORS 696.656. (6) The civil penalty provisions of subsections (3) and (4) of this section are in addition to and not in lieu of the criminal penalties for unregistered residential property wholesaling activity provided by subsections (1) and (2) of this section. (7) For the purposes of subsection (3) of this section, any violation of ORS 696.653 that results from a failure of a residential property wholesaler to renew their registration within the time allowed by law constitutes a single offense of residential property wholesaling activity without registration for each 30-day period after the lapse of registration during which the individual engages in residential property wholesaling activity. A civil penalty imposed for a violation of ORS 696.653 that results from a failure of a residential property wholesaler to renew their registration within the time allowed by law is not subject to the minimum dollar amounts specified in subsection (3) of this section. (8) Subsection (4) of this section does not apply to a violation of ORS 696.653 that results from a failure of a residential property wholesaler to renew their registration within the time allowed by law. (9) Subsection (4) of this section does not apply to a violation of ORS 696.653 that results from a failure of an individual licensed under ORS 696.022 to renew a license within the time allowed by law. (10) This section does not apply to escrow agents licensed under ORS 696.511 or to their employees engaged in rendering escrow services in the performance of duties as an escrow agent. (11) Civil penalties under this section shall be imposed as provided in ORS 183.745. [2024 c.3 §8] Note: See note under 696.650. _______________