Oregon Senate Bill 926 (Prior Session Legislation)

---

Completed Legislative Action
Sponsorship: Partisan Bill (Republican 3)
Status: Failed on June 25 2023 - 100% progression
Action: 2023-06-25 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Prohibits merchant service company or financing agency from retaining funds that are property of merchant for more than 10 calendar days unless merchant service company or financing agency allows merchant access to funds, including ability to withdraw funds, or merchant service company or financing agency pays merchant statutory rate of interest on balance of funds retained. Prohibits merchant service company or financing agency from retaining funds that are property of merchant for more than 10 calendar days unless merchant service company or financing agency allows merchant access to funds, including ability to withdraw funds, or merchant service company or financing agency pays merchant statutory rate of interest on balance of funds retained. Punishes violation of Act as unlawful practice under Unlawful Trade Practices Act. Takes effect on 91st day following adjournment sine die.

Relating to requirements for retaining merchant funds past a certain period of time; prescribing an effective date.

Sen. Tim Knopp [R]

Rep. Vikki Breese-Iverson [R]

Sen. Richard Anderson [R]

Date	Chamber	Action
2023-06-25	Senate	In committee upon adjournment.
2023-02-22	Senate	Referred to Finance and Revenue.
2023-02-20	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2023R1/Measures/Overview/SB926
Text	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB926/Introduced
Supplement	https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureAnalysisDocument/74250