Oregon Revised Statutes

Or. Rev. Stat. § 696.541 (2026)

Authority of commissioner over escrow agents; rules

✓ current as of May 2026

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696.541 Authority of commissioner over escrow agents; rules. (1) The Real Estate Commissioner shall have general supervision and control over all escrow agents doing business in this state. Subject to ORS chapter 183, the commissioner may adopt such rules as reasonably necessary for the administration and enforcement of ORS 696.505 to 696.590.

(2) All escrow agents are subject to audits or examinations by the commissioner, or the commissioner’s authorized representatives at any time the commissioner considers advisable. The commissioner may collect from each escrow agent the reasonable expenses of such audit or examination including but not limited to any administrative expense for travel.

(3) The provisions of this section and of any other section relating to the examination of the affairs of an escrow agent shall extend to an escrow agent whose license has expired or been revoked or suspended, if in the judgment of the commissioner, such agent has violated any provisions of ORS 696.505 to 696.590. [1977 c.351 §12 (enacted in lieu of 696.540); 1981 c.617 §27; 1985 c.399 §4; 1991 c.874 §7; 2001 c.300 §39; 2003 c.427 §11]

(Enforcement)

Notes of Decisions

Cited in 2 cases, 1979–1988 · leading case: In Re Complaint as to the Conduct of Phelps, 760 P.2d 1331 (Or. 1988).

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In Re Complaint as to the Conduct of Phelps, 760 P.2d 1331 (Or. 1988). “1 Regulations of the Real Estate Commissioner, see ORS 696.541, require escrow agents to be impartial between the parties to a transaction.”

Key Title Co. v. Real Est. Div., 602 P.2d 663 (Or. Ct. App. 1979). · cites it 2× “"(3) If an escrow agent intends to retain or retains any interest earned on clients’ funds under section (2) of this rule, the agent shall include an estimate of the interest earnings in his schedule of fees submitted under subsection (5) of ORS 696.541. "(4) An escrow agent…”

— Or. Rev. Stat. § 696.541(1) — 1 case

Key Title Co. v. Real Est. Div., 602 P.2d 663 (Or. Ct. App. 1979). “"(3) If an escrow agent intends to retain or retains any interest earned on clients’ funds under section (2) of this rule, the agent shall include an estimate of the interest earnings in his schedule of fees submitted under subsection (5) of ORS 696.541. "(4) An escrow agent…”

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