OAR 333-333-4260: Standards for Authority to Operate a Licensed Business as a Trustee, a Receiver, a Personal Representative, or a Secured Party

(1) The Authority may issue a temporary certificate of authority to operate a licensed entity to a trustee, the receiver of an insolvent or bankrupt licensee, the personal representative of a deceased licensee, or a person holding a security interest in the licensed entity for a reasonable period of time to allow orderly disposition of the licensed entity. (a) The trustee, receiver or personal representative must provide the Authority with the following information: (A) Proof that the person is the legal trustee, receiver or personal representative for the legal entity; and (B) A written request for a certificate of authority to operate as a trustee, receiver or personal representative of the licensee, listing the address and telephone number of the trustee, receiver or personal representative. (b) The secured party must provide the Authority with the following information: (A) Proof of a security interest in the licensed entity; (B) Proof of the licensee’s default on the secured debt; (C) Proof of legal access to the real property; and (D) A written request for authority to operate as a secured party listing the secured party’s address and telephone number. (2) The Authority may revoke or refuse to issue or extend a certificate of authority for the trustee, receiver, personal representative, or secured party to operate: (a) If the trustee, receiver, personal representative or secured party does not propose to exercise licensed privileges immediately or does not begin exercising licensed privileges immediately upon receiving the temporary certificate of authority; (b) For any of the reasons that the Authority may revoke or refuse to issue or renew a license; (c) If the trustee, receiver, personal representative or secured party operates in violation of ORS 475A, or these rules; or (d) If a reasonable time for disposition of the legal entity has elapsed. (3) No person or entity described in section (1) of this rule may operate the licensed entity until a certificate of authority has been issued under this rule, except that the personal representative of a deceased licensee may operate the licensed entity for up to 10 days after the death provided that the personal representative submits the information required in subsection (1)(a) of this rule and obtains a certificate of authority within that time period. (4) A certificate of authority under this rule is initially issued for a 60-day period and may be extended as reasonably necessary to allow for the disposition of the licensed entity.