2021 Oregon Revised Statutes
Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses
Section 744.056 - Exemptions from insurance producer licensing requirements.


(2) A license as an insurance producer is not required of any of the following:
(a) An officer, director or employee of an insurer or an insurance producer, if the officer, director or employee does not receive any commission on or fee for policies written or sold to insure risks residing, located or to be performed in this state and:
(A) The officer’s, director’s or employee’s activities are executive, administrative, managerial, clerical or a combination of these, and are only indirectly related to the sale, solicitation or negotiation of insurance;
(B) The officer’s, director’s or employee’s function relates to underwriting, loss control, inspection or the processing, adjusting, investigating or settling of a claim on a contract of insurance; or
(C) The officer, director or employee is acting in the capacity of an agency supervisor assisting insurance producers when the person’s activities are limited to providing technical advice and assistance to insurance producers and do not include the sale, solicitation or negotiation of insurance.
(b) A person who does either of the following, when the person does not receive any commission or fee for the service:
(A) Secures and furnishes information for the purpose of group life insurance, group property and casualty insurance, group annuities or group or blanket health insurance or for the purpose of enrolling individuals under plans, issuing certificates under plans or otherwise assisting in administrative plans; or
(B) Performs administrative services related to mass-marketed property and casualty insurance.
(c) An employer or an association of employers or its officers, directors or employees, or the trustees of an employee trust plan:
(A) To the extent that the employers, associations, directors, officers, employees or trustees are engaged in the administration or operation of a program of employee benefits for the employer’s or association’s own employees or the employees of its subsidiaries or affiliates;
(B) To the extent that the program of employee benefits involves the use of insurance issued by an insurer; and
(C) As long as the employers, associations, officers, directors, employees or trustees are not in any manner compensated, directly or indirectly, by the insurer issuing the insurance.
(d) An employee of an insurer or an organization employed by insurers who is engaging in the inspection, rating or classification of risks, or in the supervision of the training of insurance producers and who is not individually engaged in the sale, solicitation or negotiation of insurance.
(e) A person whose activities in this state are limited to advertising without the intent to solicit insurance in this state through communications in printed publications or electronic mass media, the distribution of which is not limited to residents of this state, but only if the person does not sell, solicit or negotiate insurance that would insure risks residing, located or to be performed in this state.
(f) A person who is not a resident of this state who sells, solicits or negotiates a policy of insurance for commercial property and casualty risks to an insured with risks located in more than one state insured under that policy, but only if the person is otherwise licensed as an insurance producer to sell, solicit or negotiate that insurance in the state where the insured maintains its principal place of business and the contract of insurance insures risks located in that state.
(g) A salaried full-time employee who counsels or advises the employer of the employee relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer, but only if the employee does not sell or solicit insurance or receive any commission.
(h) An attorney in fact of an authorized reciprocal insurer, or the salaried representative of the insurer or attorney who does not receive any commission.
(i) A person engaging in the lawful transaction of reinsurance.
(j) Salaried employees of title insurance producers or insurers, except for the individual or individuals designated as exercising the powers conferred by a title insurance producer’s license.
(k) Any agent or representative of persons exempt from the Insurance Code under ORS 731.036 or holding a certificate of exemption under ORS 731.042, with respect to the exempted transactions.
(L) Any agent or representative of a fraternal benefit society who devotes, or intends to devote, less than 50 percent of the agent’s or representative’s time to the solicitation and procurement of insurance policies for that society. Any person who in the preceding calendar year has solicited and procured life insurance policies on behalf of any fraternal benefit society for an amount of insurance in excess of $50,000 or, in the case of any other class or classes of insurance that the society might write, on the persons of more than 25 individuals, and who has received or will receive a commission or other compensation therefor, shall be presumed to be devoting, or intending to devote, 50 percent or more of the person’s time to the solicitation and procurement of insurance policies for that society.
(m) An individual engaging in the lawful transaction of home protection insurance if the individual is a real estate licensee as defined in ORS 696.010, and if the transaction of such insurance by the individual is subject to a written contract, to which the insurer is a party, governing the individual’s activities in the transaction.
(n) Salaried employees of a financial institution or trust company, as those terms are defined in ORS 706.008, who, in the regular course of business with the customers of the financial institution or trust company, present the customers with written information about savings account annuities issued by an authorized insurer. Any person who purchases such an annuity may rescind the transaction within 10 days after the issuance of the contract. For purposes of this paragraph, "savings account annuities" means annuities purchased with the proceeds of a savings account, certificate or share in a financial institution or trust company.
(3) A person who provides general insurance advice in connection with providing other professional services such as legal services, trust services, tax and accounting services, financial planning or investment advisory services is not considered to be soliciting the sale of insurance for the purpose of the definition of "insurance producer" in ORS 731.104. [2001 c.191 §4; 2003 c.364 §4; 2003 c.802 §175; 2007 c.71 §242; 2007 c.319 §34]

Structure 2021 Oregon Revised Statutes

2021 Oregon Revised Statutes

Volume : 18 - Financial Institutions, Insurance

Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses

Section 744.052 - Definitions for ORS 744.052 to 744.089.

Section 744.056 - Exemptions from insurance producer licensing requirements.

Section 744.058 - Written examination; fees; rules.

Section 744.059 - Qualifications for license; use of uniform application.

Section 744.061 - Banking institution as insurance producer.

Section 744.062 - Issuance of insurance producer license; rules.

Section 744.063 - Nonresident insurance producer license; fee.

Section 744.064 - Persons licensed elsewhere.

Section 744.067 - Exemptions from prelicensing education or examination requirement.

Section 744.068 - Required notifications; maintenance of usual and customary records; rules.

Section 744.072 - Renewal or reinstatement of insurance producer license; continuing education; rules.

Section 744.073 - Temporary insurance producer license.

Section 744.074 - Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license.

Section 744.076 - Payment of commission, service fee or brokerage.

Section 744.077 - Conditions under which person licensed as insurance producer and consultant may accept commission or fee; rules.

Section 744.078 - Appointment of insurance producers; rules.

Section 744.079 - Termination of relationship with insurance producer.

Section 744.081 - Termination of appointment.

Section 744.083 - Trust account for premium funds; commingling; exceptions; rules.

Section 744.084 - Certificate of deposit in lieu of trust account; rules.

Section 744.088 - Training requirements to be licensed as insurance producer for long term care insurance.

Section 744.089 - Report of administrative action taken against insurance producer.

Section 744.091 - Additional conditions under which person licensed as insurer or insurance producer may charge commission or service fee; rules.

Section 744.093 - Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer; rules.

Section 744.101 - Definitions.

Section 744.104 - Travel insurance through travel retailers; direction by limited travel insurance producers; requirements and restrictions; designated employees.

Section 744.107 - Violations; revocation of authorization.

Section 744.111 - Rules.

Section 744.300 - License and indorsement; managing general agent described.

Section 744.301 - Exemptions from license requirement.

Section 744.303 - Certificate of errors and omissions insurance; rules.

Section 744.306 - Contract between insurer and managing general agent.

Section 744.308 - Limitations on authority of insurer and managing general agent.

Section 744.313 - Financial examination; loss reserves; notification of appointment and termination; acts of managing general agent attributed to insurer.

Section 744.318 - Definitions for ORS 744.318 to 744.384.

Section 744.321 - Life settlement providers.

Section 744.323 - Life settlement brokers.

Section 744.326 - License application; fee.

Section 744.328 - Issuance of license.

Section 744.331 - Expiration of license; rules for renewal.

Section 744.333 - Individual acting as provider under license of firm or corporation.

Section 744.338 - Suspension, revocation, refusal to issue or renew license.

Section 744.341 - Terms of contract.

Section 744.343 - Annual report and statement by provider; restrictions on disclosure of information; rules.

Section 744.346 - Examination of business and practices of licensee or applicant; records.

Section 744.354 - Disclosure by life settlement provider, broker or investment agent to policy owner.

Section 744.362 - Disclosure by insurance company to policy owner; rules.

Section 744.364 - Life settlement contract requirements.

Section 744.367 - Limitations on ability to enter life settlement contract; exceptions.

Section 744.369 - Unlawful life settlement contract actions.

Section 744.372 - Advertising of life settlement contracts; rules.

Section 744.374 - Enforcement of life settlement contract provisions; reporting of violations; required antifraud initiatives.

Section 744.382 - Prohibitions on finder’s fee, solicitations, discrimination.

Section 744.384 - Rules; standards.

Section 744.502 - Definitions.

Section 744.515 - Exemptions from adjuster licensing requirement.

Section 744.518 - License application; business entity as applicant; fees.

Section 744.521 - Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees.

Section 744.523 - Conditions for licensing, renewing license for or amending license of business entity.

Section 744.525 - Resident adjuster qualifications; rules.

Section 744.528 - Nonresident adjuster qualifications; rules.

Section 744.531 - Classes of insurance for adjusters.

Section 744.538 - Change of circumstance of nonresident adjuster.

Section 744.555 - Temporary adjuster permit; rules.

Section 744.578 - Licensee’s place of business.

Section 744.581 - Notices required; rules.

Section 744.584 - Prohibited conduct; penalties and disciplinary action; hearings.

Section 744.602 - Definitions.

Section 744.605 - Insurance consultant’s license required.

Section 744.609 - Exemptions.

Section 744.611 - License application; business entity as applicant; fees.

Section 744.614 - Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees.

Section 744.617 - Conditions for licensing, renewing license for or amending license of business entity.

Section 744.619 - Qualifications for resident insurance consultant’s license; rules.

Section 744.621 - Qualifications for nonresident insurance consultant’s license; rules.

Section 744.626 - Classes of insurance for consultants.

Section 744.631 - Change of circumstance of nonresident insurance consultant.

Section 744.635 - Errors and omissions insurance; rules.

Section 744.638 - Licensee’s place of business.

Section 744.641 - Notices required; rules.

Section 744.644 - Prohibited conduct; penalties and disciplinary action; hearings.

Section 744.650 - Disclosure by insurance consultants; rules.

Section 744.700 - Definitions for ORS 744.700 to 744.740.

Section 744.702 - Third party administrator license; description of transacting business as third party administrator.

Section 744.704 - Exemptions from license requirement; rules.

Section 744.706 - Application for license.

Section 744.710 - Issuance or denial of license.

Section 744.712 - Expiration and renewal of license; rules for renewal.

Section 744.718 - Suspension, revocation or refusal of issuance or renewal of license.

Section 744.720 - Agreement between insurer and third party administrator.

Section 744.722 - Relationship of insurer and third party administrator regarding payments.

Section 744.724 - Books and records.

Section 744.726 - Errors and omissions insurance; rules.

Section 744.730 - Disposition of charges and premiums.

Section 744.732 - Contingent fee agreements.

Section 744.734 - Notice to insureds regarding third party administrator.

Section 744.738 - Annual report.

Section 744.740 - Responsibility of insurer using third party administrator.

Section 744.800 - Qualifications for reinsurance intermediary brokers and managers.

Section 744.802 - Exemptions from application of requirements for reinsurance intermediary brokers and managers.

Section 744.804 - Conditions under which reinsurance intermediary broker and insurer may enter into transactions.

Section 744.806 - Records required to be kept by reinsurance intermediary brokers.

Section 744.808 - Prohibition on use of unlicensed reinsurance intermediary broker; requirement that insurer obtain financial statement of reinsurance intermediary broker.

Section 744.810 - Conditions under which reinsurance intermediary manager and reinsurer may enter into transactions.

Section 744.812 - Prohibitions on actions of reinsurance intermediary managers.

Section 744.814 - Prohibition on use of unlicensed reinsurance intermediary manager; requirement that reinsurer obtain financial statement of reinsurance intermediary manager and opinion of actuary.

Section 744.816 - Director access to books, accounts and records.

Section 744.818 - Errors and omissions insurance for reinsurance intermediary manager; rules.

Section 744.850 - Definitions for ORS 744.850 to 744.858.

Section 744.852 - Limited license for rental companies; application; rules.

Section 744.854 - Kinds of insurance authorized by limited license.

Section 744.856 - Conditions for offer or sale of insurance; training; filing officer.

Section 744.858 - Revocation or suspension of limited license; other penalties; application of Insurance Code; rules.

Section 744.860 - Definitions for ORS 744.860 to 744.870.

Section 744.862 - Limited license to sell insurance; exemption; application; disclosures required; conditions on license.

Section 744.864 - Permissible sales; required notices and disclosures; evidence of coverage; prohibition on representing owner as insurer.

Section 744.866 - Training program; approval of training materials; certification of training; auditing.

Section 744.868 - License suspension and revocation or other penalty; rules.

Section 744.870 - Compensation, bonuses and incentives.

Section 744.991 - Criminal penalties; restitution.

Section 744.992 - Civil penalties; civil actions; rescission of life settlement contracts.

Section 744.994 - Effect of license expiration or surrender on director’s investigation or disciplinary proceedings.