# ORS § 86a.109: 86A.109 Expiration of initial license

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.109

## Section

- **Citation:** ORS § 86a.109
- **Heading:** 86A.109 Expiration of initial license
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 9 / Chapter 86a / Section 86a.109

## Text

(1) An initial license expires one year after the date of issuance unless the Director of the Department of Consumer and Business Services establishes a different expiration date to coordinate with the Nationwide Mortgage Licensing System and Registry.

(2) The director by rule shall establish procedures to renew a license. The rule shall specify the duration of a renewed license.

(3) If there is a change in the partners, directors, officers or persons that occupy similar positions or perform similar functions, or persons that directly or indirectly control a mortgage banker or mortgage broker, written notification of the change must be filed promptly with the director. No fee is required for the notification. [Formerly 59.855]

Source: Section 86A.109 — Expiration of initial license; renewal; duration of renewed license; change in personnel; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors86A.­html (accessed May 26, 2025).

## Nearby sections

- [ORS § 86a.095 86A.095 Short title](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.095.md)
- [ORS § 86a.100 86A.100 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.100.md)
- [ORS § 86a.103 86A.103 License required to engage in residential mortgage transactions as mortgage banker or mortgage broker](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.103.md)
- [ORS § 86a.106 86A.106 Procedures for licensing](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.106.md)
- [ORS § 86a.109 86A.109 Expiration of initial license](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.109.md)
- [ORS § 86a.112 86A.112 Licensees to keep records](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.112.md)
- [ORS § 86a.115 86A.115 Grounds for denying, suspending, conditioning or revoking license](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.115.md)
- [ORS § 86a.118 86A.118 Action against applicant or licensee for act or omission of associate](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.118.md)
- [ORS § 86a.121 86A.121 Cancellation of license or application](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.121.md)
- [ORS § 86a.124 86A.124 Supervisory authority of director over mortgage bankers, mortgage brokers and mortgage loan originators](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.124.md)
- [ORS § 86a.127 86A.127 Investigations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.127.md)
- [ORS § 86a.130 86A.130 Enjoining violations](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.130.md)
- [ORS § 86a.133 86A.133 Procedures where assets or capital of mortgage banker or mortgage broker found impaired](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.133.md)
- [ORS § 86a.136 86A.136 Rules](https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.136.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T9_C86a_S86a.109. Check the current official text before relying on it. Not legal advice.