Oregon Code § 717.240·Enacted ·Last updated March 01, 2026
Statute Text
License renewal; annual fee; renewal report; rules.
(1)(a) To renew a license, each
licensee shall pay to the Director of the Department of Consumer and Business
Services a nonrefundable annual fee of $500 or a fee that the director sets by
rule in an amount that does not exceed $1,000.
(b) In addition
to paying the fee described in paragraph (a) of this subsection, a licensee
shall provide information necessary for the director to evaluate the licensees
renewal application. The director shall prescribe the information required by
rule. The director may require a licensee to renew a license under the terms of
the directors agreement with the Nationwide Multistate Licensing System.
(2) At the time
the licensee pays the renewal fee, the licensee shall submit an annual report
on a date and in a form and format the director prescribes by rule. The annual
report must describe the condition and operations of the money transmission
business during the preceding calendar year and must include:
(a) A copy of the
licensees most recent audited consolidated annual financial statement,
including a balance sheet, statement of income or loss, statement of changes in
shareholder equity and statement of changes in financial position. In the case
of a licensee that is a wholly owned subsidiary of another corporation, the
consolidated audited annual financial statement of the parent corporation may
be filed in lieu of the licensees audited annual financial statement.
(b) For the most
recent quarter for which data are available before the date of the renewal
application, but not more than 120 days before the renewal date, a description
of the number of payment instruments the licensee sold in this state, the
dollar amount of the payment instruments and the dollar amount of payment
instruments currently outstanding.
(c) A description
of any material changes to any of the information the licensee submitted on the
licensees original application that the licensee has not previously reported
to the director on any other report required to be filed with the director.
(d) A list of the
licensees permissible investments.
(e) A list of the
locations within this state at which the licensee or an authorized delegate of
the licensee is conducting business regulated by ORS 717.200 to 717.320,