86A.118 Action against applicant or licensee for act or omission of associate

The Director of the Department of Consumer and Business Services may enter an order against the applicant or licensee under ORS 86A.115 (Grounds for denying, suspending, conditioning or revoking license) if any partner, officer or director of a mortgage banker or mortgage broker, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the mortgage banker or mortgage broker has been guilty of any act or omission which would be cause for denying, suspending or revoking the license of an individual mortgage banker or mortgage broker. This section shall not apply to ORS 86A.115 (Grounds for denying, suspending, conditioning or revoking license) (1). [Formerly 59.870]

Source: Section 86A.118 — Action against applicant or licensee for act or omission of associate; exception , https://www.­oregonlegislature.­gov/bills_laws/ors/ors86A.­html (accessed May 26, 2025).