1. (1) For purposes of this rule, the term "application" includes all documents, information and fees prescribed for the licensing of broker-dealers, state investment advisers, salespersons, or investment adviser representatives under ORS 59.175 and OAR 441, division 175.

2. (2) An application shall be deemed deficient when:

   1. (a) Insufficient fees have been paid and the director has notified the applicant that fees are insufficient;
   2. (b) Documents required by the rules in OAR 441, division 175 have not been submitted by the applicant; or
   3. (c) Additional information requested by the director as permitted by the rules in OAR 441, division 175 has not been submitted to the director by the applicant.

3. (3) An application for licensing is deemed abandoned if:

   1. (a) The application has been on file for a minimum of six (6) months;
   2. (b) The application is deficient; and
   3. (c) The applicant has failed to respond to the director’s written notice of warning of abandonment within thirty (30) calendar days of the date of warning.
4. (4) Fees paid in connection with an abandoned licensing application shall not be refunded.
5. (5) An applicant whose application has been abandoned may reapply by submitting a new application including new fees.

Statutory/Other Authority

ORS 59.285

Statutes/Other Implemented

ORS 59.175

History

FSR 1-2016, f. & cert. ef. 3-7-16
FCS 1-2004, f. & cert. ef. 5-19-04
FCS 2-2003(Temp), f. & cert. ef. 11-26-03 thru 5-21-04
FCS 7-2000, f. & cert. ef. 6-2-00