OAR 863-024-0070: License Surrender

(1) A licensed property manager may surrender the licensee's license to the Commissioner on an Agency-approved form. Upon surrender, the license is terminated, and the licensee’s rights under the surrendered license are terminated. The Commissioner retains continuing jurisdiction to investigate the management of rental real estate conducted under the license and to take disciplinary action against the former licensee under ORS Chapter 696 and its implementing rules. (2) A surrendered license may not be renewed. The former licensee must reapply and meet all the licensing qualifications required of new license applicants.