OAR 441-065-0250: Definitions

The following definitions are adopted for the purpose of this division: (1) An “agency transaction” is defined as a transaction in securities where one person acts for the account of another person. (2) A “generic registration” of securities is defined as a registration procedure where a variety and series of securities to be offered is registered based on a gross dollar volume. (3) A “participation” or “fractional interest” is defined as a transaction where several investors are given an interest in a single mortgage, trust deed, or single land sales contract. This is sometimes referred to as a “split.” (4) A “pooled investment or interest” is defined as a transaction where the investor is given a partial interest along with other investors, in more than one mortgage, trust deed, or land sales contract. (5) A “principal transaction” is defined as a transaction in mortgage broker securities where a person sells or deals for the person’s own account or for the account of an affiliate, officer, director or person holding a similar position with the principal.