(1) A person commits the offense of failure to report missing precursor substances if the person:
(a) Is a licensee or other person regulated by the provisions of ORS 475.005 to 475.285 and 475.752 to 475.980;
(b) Discovers any theft or loss of any precursor substance or any difference between the quantity received and the quantity shipped; and
(c) Within three days after discovery of the theft or loss or actual knowledge of the discrepancy, does not report the theft, loss or discrepancy to the Department of State Police in the manner provided by rule adopted under ORS 475.945.
(2) Penalties for providing false information on any report required under this section are provided under ORS 465.965.
(3) The offense described in this section, failure to report missing precursor substances, is a Class A misdemeanor.