194.024)] ����� 194.375 Protest of commercial paper. (1) A notary public may protest commercial paper if the notary public is: ����� (a) An officer or employee of a financial institution or trust

194.024)]

����� 194.375 Protest of commercial paper. (1) A notary public may protest commercial paper if the notary public is:

����� (a) An officer or employee of a financial institution or trust company;

����� (b) An officer or employee of an investment company;

����� (c) An individual serving under the direct supervision of an officer or employee of a financial institution, trust company or investment company; or

����� (d) An active licensee of the Oregon State Bar, or an individual serving under the direct supervision of an active licensee of the Oregon State Bar.

����� (2) Each notary public who protests commercial paper shall take the actions required by ORS 73.0505.

����� (3) A notary public may not protest commercial paper owned or held for collection by a financial institution, trust company or investment company if the notary public is individually a party to the commercial paper.

����� (4) As used in this section:

����� (a) �Financial institution� has the meaning given that term in ORS 706.008.

����� (b) �Investment company� means an entity that is registered as an investment company under the federal investment company laws.

����� (c) �Trust company� has the meaning given that term in ORS 706.008. [2013 c.219 �32 (enacted in lieu of 194.070); 2025 c.32 �98]

����� 194.380 Record of protest; effect as evidence. Each notary public described in ORS 194.375 shall keep a record of all protests of commercial paper made by the notary public under ORS 73.0505. The record is competent evidence to prove notice of dishonor for purposes of ORS 73.0505. [2013 c.219 �34 (enacted in lieu of 194.090)]

����� 194.385 Powers of notary public connected with corporation; limitations. (1) A notary public who is a shareholder, director, officer, employee, member or partner of a business entity may:

����� (a) Take the acknowledgment of any party to any written instrument executed to or by the business entity; or

����� (b) Administer an oath to any other shareholder, director, officer, employee, member or partner of the business entity or to any agent of the business entity.

����� (2) A notary public may not take the acknowledgment of an instrument executed to or by a business entity of which the notary public is a shareholder, director, officer, employee, member or partner, if the notary public is a party to the instrument, either individually or as a representative of the business entity.

����� (3) As used in this section:

����� (a) �Business entity� means a financial institution, trust company, corporation, professional corporation, cooperative, limited liability company, nonprofit corporation, partnership, limited liability partnership or limited partnership.

����� (b) �Financial institution� has the meaning given that term in ORS 706.008.

����� (c) �Trust company� has the meaning given that term in ORS 706.008. [2013 c.219 �36 (enacted in lieu of 194.100)]

����� 194.390 Disposition of records on vacancy in office; penalty for failure to properly dispose of records or for destroying or altering records. (1) Whenever the office of a notary public becomes vacant, the record referred to in ORS 194.380 kept by the notary public, together with all the papers relating to such record, shall be delivered to the Secretary of State.

����� (2) A former notary public, or an individual designated personal representative or administrator for a deceased notary public, shall deliver the record and papers described in subsection (1) of this section to the Secretary of State not later than three months after the date the office becomes vacant or after the individual is designated personal representative or administrator.

����� (3) Violation of subsection (2) of this section is subject to a fine of not more than $500 for each violation.

����� (4) If any individual knowingly destroys, defaces, materially alters or conceals any record or paper of a notary public, the individual is subject to a fine of not more than $500 and shall be liable to an action for damages by the party injured. [2013 c.219 �38 (enacted in lieu of 194.130)]

����� 194.395 Recovery and disposition of fines. All fines imposed under ORS 194.390 shall be recovered in a civil action in any court having jurisdiction of the action in the county where the notary public resides, is employed or is carrying on business. One-half of the amount of the fine shall be paid to the person bringing the action and one-half shall be paid to the State Treasurer to be deposited in the General Fund. [2013 c.219 �40 (enacted in lieu of 194.150)]

����� 194.400 Fees for notarial acts; collection of fees. (1) The fee that a notary public may charge for performing a notarial act may not exceed $10 per notarial act, except that a notary public may charge a fee not to exceed $25 per notarial act for a notarial act performed under ORS