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COST SECURITY v. REAL ESTATE AGENCY

(995-E-409G; CA A95785; SC S45845)

15 P.3d 29 (2000)

331 Or. 348

COAST SECURITY MORTGAGE CORPORATION, Petitioner on Review, v. REAL ESTATE AGENCY, Respondent on Review.

Supreme Court of Oregon.

Decided December 7, 2000.

Attorney(s) appearing for the Case

Gary Roberts, Portland, argued the cause for petitioner on review. With him on the petition and brief was Schwabe, Williamson & Wyatt, P.C., Portland.

Jas. Jeffrey Adams, Assistant Attorney General, Salem, argued the cause for respondent on review. With him on the brief were Hardy Myers, Attorney General, and Michael D. Reynolds, Solicitor General.

Before CARSON, Chief Justice, and GILLETTE, VAN HOOMISSEN, DURHAM, LEESON, and RIGGS, Justices.

CARSON, C.J.

In this administrative law case, we must construe ORS 696.511(1), the escrow agent licensing statute, which requires a person to obtain a license if that person "act[s] in the capacity of an escrow agent." The Real Estate Agency (Agency) issued a final order concluding that Coast Security Mortgage Corporation (Coast Security), a mortgage broker that was not licensed as an escrow agent, had violated ORS 696.511(1) when it explained escrow instructions...

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