OAR 813-080-0055: Revocation

Edition: Current OARD snapshotEffective: 1991-12-23Last verified: 2026-09-07

(1) The issuer may revoke a Mortgage Credit Certificate when the certificate holder no longer occupies the single-family residence to which the Mortgage Credit Certificate relates as a Principal Residence. Mortgage Credit Certificates shall not transfer with the property. (2) A Mortgage Credit Certificate may be revoked if it is found the certificate Holder did not meet the program requirements for a Mortgage Credit Certificate when certified. (3) Upon revocation the issuer shall notify the certificate holder and the Internal Revenue Service in writing of the revocation.

Official history and status

Statutory/Other Authority: ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650

Statutes/Other Implemented: ORS 456.605

History: HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91 Reverted to 1HD 4-1986, f. & ef. 12-3-86 HSG 3-1989(Temp), f. & cert. ef. 6-8-89 1HD 4-1986, f. & ef. 12-3-86 1HD 2-1986(Temp), f. & ef. 6-17-86

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Official source: https://secure.sos.state.or.us/oard/