As used in this division, unless the context requires otherwise:

1. (1) “Agency” means the Oregon Real Estate Agency.
2. (2) “Bank” is defined in ORS 706.008.
3. (3) “Commissioner” means Oregon Real Estate Commissioner.
4. (4) “Escrow” is defined in ORS 696.505.
5. (5) “Escrow agent” is defined in ORS 696.505.
6. (6) “Escrow operations” means any activity that is subject to regulation under ORS 696.505 to 696.590.
7. (7) “Escrow trust account” is defined in section 1, chapter 174, Oregon Laws 2009.
8. (8) “Trust funds” is defined in section 1, chapter 174, Oregon Laws 2009.

Statutory/Other Authority

ORS 696.541

Statutes/Other Implemented

ORS 696.505 & 696.511

History

REA 1-2009, f. 12-15-09, cert. ef. 1-1-10