Administrative Rule Adopted by Revenue Division Pursuant to Rule-Making Authority
Payday lenders are required to notify the Revenue Bureau of all changes to the information provided on the Payday Lender application. The Revenue Bureau may inspect the records of former payday lender locations for up to one year to verify that payday loans are not being made from the location.
CLOSING A LOCATION
Payday Lender must notify the Revenue Bureau, in writing, of any location that closes within 10 days of location closure.
DISCONTINUING OPERATION AS A PAYDAY LENDER
Payday Lenders must notify the Revenue Bureau, in writing, of any location that discontinues offering payday loans within 10 days. Documentation must include the date of discontinuance, the reason, and include documentation notifying the State of Oregon.
ADDING A LOCATION
Any Payday Lender opening a new location must apply for and receive a Payday Lender Permit for that new location within 15 days of opening the location.
Adopted by Director of Revenue Bureau as administrative rule #PL-10 on September 13, 2006.
Renumbered by Auditor's Office and filed for inclusion in PPD September 9, 2015.