OAR 441-810-0000: Definitions

The definitions of terms used in ORS 697.005 to 697.098, 697.990 to 697.992 and the rules of this OAR chapter 441 divisions 800 and 810, are: (1) “Director” means the director of the Department of Consumer and Business Services. (2) “Employed” means working for a salary or wages. (3) “Person” means any legal entity, including individuals, corporations, associations, firms and partnerships. (4) “Repossessor” means a person who takes possession of an item when the installment payment has been defaulted and the creditor has the right to repossess. (5) “Solicitor” means a person who attempts to obtain clients for a collection agency or payments due a client of a collection agency. (6) “Trust Account” means a financial institution checking account designated “client trust account” in which all funds received or handled by the collection agency on behalf of the agency’s clients are deposited.