# ORS § 59.045: 59.045 Authority of director to deny, withdraw or condition exemptions

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.045

## Section

- **Citation:** ORS § 59.045
- **Heading:** 59.045 Authority of director to deny, withdraw or condition exemptions
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 7 / Chapter 59 / Section 59.045

## Text

(1) The Director of the Department of Consumer and Business Services may by rule or order, as to any security or any type of security transaction:

(a) Deny, withdraw or condition the exemptions allowed by ORS 59.025 (Securities exempt from registration) and 59.035 (Transactions exempt from registration) if, in the director’s opinion, the further sale of the security in this state would work a fraud or imposition upon the purchaser.

(b) Waive the conditions of ORS 59.035 (Transactions exempt from registration) (3)(b) and (12)(a)(B).

(c) Provide which exemptions may or may not be used in connection with other exemptions or provide procedures for determining which offerings are or are not integrated with other offerings within the same or other exemptions.

(2) The director may by order withdraw, condition or deny the use of any exemption by a person if the director has reason to believe that the person has engaged in or is about to engage in an act or practice constituting a violation of the Oregon Securities Law or that the use of any exemption by that person would work a fraud or imposition on purchasers.

(3) No person shall be liable under the Oregon Securities Law by reason of the withdrawal of an exemption under this section if that person sustains the burden of proof that that person did not know, and in the exercise of reasonable care could not have known of the withdrawal. [1967 c.537 §6; 1973 c.366 §3; 1985 c.349 §4]

Source: Section 59.045 — Authority of director to deny, withdraw or condition exemptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors059.­html (accessed May 26, 2025).

## Nearby sections

- [ORS § 59.005 59.005 Short title](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.005.md)
- [ORS § 59.015 59.015 Definitions for Oregon Securities Law](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.015.md)
- [ORS § 59.025 59.025 Securities exempt from registration](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.025.md)
- [ORS § 59.035 59.035 Transactions exempt from registration](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.035.md)
- [ORS § 59.045 59.045 Authority of director to deny, withdraw or condition exemptions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.045.md)
- [ORS § 59.049 59.049 Federal covered securities exempt from registration](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.049.md)
- [ORS § 59.051 59.051 Statutory references to federal law](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.051.md)
- [ORS § 59.055 59.055 Conditions of offer and sale of securities](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.055.md)
- [ORS § 59.065 59.065 Registration procedures](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.065.md)
- [ORS § 59.070 59.070 Amended registration application](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.070.md)
- [ORS § 59.075 59.075 Registration by director](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.075.md)
- [ORS § 59.085 59.085 Conditions imposed on registration](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.085.md)
- [ORS § 59.095 59.095 Approval of plan to issue securities in exchange for other securities, claims or property](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.095.md)
- [ORS § 59.105 59.105 Denial, suspension or revocation of registration](https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.105.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T7_C59_S59.045. Check the current official text before relying on it. Not legal advice.