OAR 863-024-0097: Registered Business Name Renewal

(1) Only a n authorized principal broker or licensed property manager can submit a registered business name renewal application and pay the fee using an online application process, which will be available through the Agency’s website. (2) For purposes of this rule, “received by the Agency” means the date an authorized principal broker or licensed property manager completed the online renewal process and paid the fee required under ORS 696.270. (3) A registered business name that is not renewed on or before the registration expiration date will be void. (4) If a registered business name becomes void, all real estate licensees authorized to manage rental real estate under that name will be inactivated and may not engage in the management of rental real estate until transferred under OAR 863-024-0063. (5) A managing principal broker or licensed property manager that wishes to reactivate a voided registered business name must reapply after a business name expiration as provided by OAR 863-024-0095. (6) When a new application for a voided registered business name has been processed and activated by the Agency, the authorized principal broker or licensed property manager may then authorize other real estate licensees to manage rental real estate under the name by completing the process under OAR 863-024-0063. Effective dates are not retroactive. (7) A registered business name renewed under this rule expires one year from the date of the original expiration date.