1. (1) For purposes of this rule, the term "application" includes all documents, information and fees prescribed for the registration of a master trustee.

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

   1. (a) The applicant has paid insufficient fees and the director has notified the applicant that fees are insufficient;
   2. (b) Documents required to be submitted to the director by OAR 441-930-0030 and 441-930-0035 have not been submitted by the applicant; or
   3. (c) The applicant has not submitted information requested by the director.

3. (3) An application shall be deemed abandoned if:

   1. (a) The application has been on file for a minimum of 60 days;
   2. (b) The application is deficient; and
   3. (c) The applicant has failed to respond within 30 days to the director's written notice of warning of abandonment.
4. (4) An applicant whose application has been abandoned may reapply by submitting a new application and registration fee.

Statutory/Other Authority

ORS 97.926 & 97.935

Statutes/Other Implemented

ORS 97.935

History

FCS 14-2010, f. 12-30-10, cert. ef. 1-1-11