Oregon Code § 697.612·Enacted ·Last updated March 01, 2026
Statute Text
Registration requirement; exceptions.
(1) A person that has not registered with the Director of the Department of
Consumer and Business Services under ORS 697.632 may not engage in business in
this state in the course of which the person:
(a) Performs a
debt management service; or
(b) Receives
money or other valuable consideration or expects to receive money or other
valuable consideration for:
(A) Soliciting or
receiving an application from a consumer for a debt management service;
(B) Forwarding or
providing a completed application for a debt management service to a debt
management service provider;
(C) Referring a
consumer to another debt management service provider, if the person is a debt
management service provider;
(D) Providing a
consumers name, address or other information that identifies the consumer to a
debt management service provider for the purpose of arranging the provision of
a debt management service; or
(E) Providing
advice, assistance, instruction or instructional material concerning a debt
management service to a consumer.
(2) A debt
management service provider registered under ORS 697.632 may negotiate on a
consumers behalf for a reasonable alternative repayment schedule or to reduce
a claim described in 11 U.S.C. 502 if the debt management service provider is a
nonprofit budget and credit counseling agency approved in accordance with 11
U.S.C. 111.
(3) Subsection
(1) of this section does not apply to:
(a) An employee
of a debt management service provider, if the debt management service provider
is registered under ORS 697.632.
(b) An attorney
licensed or authorized to practice law in this state, if the attorney provides
a debt management service only incidentally in the practice of law.
(c) A financial
institution or a trust company, both as defined in ORS 706.008.
(d) A consumer
finance company licensed under ORS chapter 725.
(e) An escrow
agent licensed under ORS 696.505 to 696.590 to the extent that the escrow agent
is acting to close an escrow, as defined in ORS 696.505, is engaging in
activity related to a collection escrow, as defined in ORS 696.505, or is
serving as a trustee of a trust deed in accordance with ORS 86.713. This
paragraph does not apply if the escrow agent:
(A) Assists an
unregistered debt management service provider that is not exempt from
registration under this subsection in performing a debt management service; or
(B) Provides
escrow services to a consumer in accordance with a debt management services
plan executed by an unregistered debt management services provider that is not
exempt from registration under this subsection.
(f) A mortgage
banker or mortgage broker licensed under ORS 86A.095 to 86A.198 or a mortgage
loan originator, as defined in ORS 86A.100.
(g) A
broker-dealer registered with the United States Securities and Exchange
Commission or the United States Commodity Futures Trading Commission, if the
broker-dealer is subject to and acts in accordance with regulations promulgated
by either commission.
(h) A consumer
reporting agency, as defined in 15 U.S.C. 1681a(f).
(i) A public
body, as defined in ORS 174.109.
(j) A person that
is obeying or acting in accordance with a court order.
(k) An accredited
educational institution or program that offers or performs a debt management
service without receiving money or other valuable consideration, if the
institution or program performs the debt management service as an incidental
part of a class or a duty the institution or program provides regularly.
(L) A nonprofit
budget and credit counseling agency approved in accordance with 11 U.S.C. 111
that:
(i) Provides only
an individual or group briefing, as described in 11 U.S.C. 109(h), or an
instructional course concerning personal financial management, as described in
11 U.S.C. 111; and
(ii) Does not
receive or offer to receive funds from a consumer for the purpose of
distributing the funds among the consumers creditors in full or partial
payment of the consumers debts.
(m) A nonprofit
entity that provides advice, assistance, instruction or instructional materials
to a consumer in return for a fee that is reasonably calculated to pay the cost
of making the advice, assistance, instruction or instructional materials available.
(n) An
organization or a counselor approved by the United States Department of Housing
and Urban Development under 12 U.S.C. 1701x. [1983 c.17 §3; 2009 c.604 §2; 2009
c.863 §41; 2013 c.444 §2]