The following definitions are adopted for the purpose of this division:

1. (1) An “agency transaction” is defined as a transaction in securities where one person acts for the account of another person.
2. (2) A “generic registration” of securities is defined as a registration procedure where a variety and series of securities to be offered is registered based on a gross dollar volume.
3. (3) A “participation” or “fractional interest” is defined as a transaction where several investors are given an interest in a single mortgage, trust deed, or single land sales contract. This is sometimes referred to as a “split.”
4. (4) A “pooled investment or interest” is defined as a transaction where the investor is given a partial interest along with other investors, in more than one mortgage, trust deed, or land sales contract.
5. (5) A “principal transaction” is defined as a transaction in mortgage broker securities where a person sells or deals for the person’s own account or for the account of an affiliate, officer, director or person holding a similar position with the principal.

Statutory/Other Authority

ORS 59

Statutes/Other Implemented

ORS 59.065

History

FCS 7-1988, f. 3-22-88, cert. ef. 3-25-88, Renumbered from 815-037-0005
FCS 8-1987(Temp), f. 9-24-87, ef. 9-28-87
CC 2-1982, f. 1-18-82, ef. 2-1-82
CC 6-1981(Temp), f. 10-27-81, ef. 11-2-81