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 744.068 - Required notifications; maintenance of usual and customary records; rules. - (2) A resident insurance producer shall keep at the principal...

Section 744.072 - Renewal or reinstatement of insurance producer license; continuing education; rules. - (2) As a condition for or in connection with the...

Section 744.073 - Temporary insurance producer license. - (a) To the surviving spouse or court-appointed personal representative of...

Section 744.074 - Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license. - (a) Providing incorrect, misleading, incomplete or materially untrue information in...

Section 744.076 - Payment of commission, service fee or brokerage. - (2) A person shall not accept a commission, service fee,...

Section 744.077 - Conditions under which person licensed as insurance producer and consultant may accept commission or fee; rules. - (2) Except as otherwise provided by rule, an insurance producer...

Section 744.078 - Appointment of insurance producers; rules. - (a) The insurance producer is an appointed agent of that...

Section 744.079 - Termination of relationship with insurance producer. - (2) An insurer or the authorized representative of the insurer...

Section 744.081 - Termination of appointment. - (2) An insurer may terminate an agency appointment without giving...

Section 744.083 - Trust account for premium funds; commingling; exceptions; rules. - (2) Except as provided in subsection (3) of this section,...

Section 744.084 - Certificate of deposit in lieu of trust account; rules. - (2) A certificate of deposit authorized under subsection (1) of...

Section 744.088 - Training requirements to be licensed as insurance producer for long term care insurance. - (a) The individual must complete a one-time training course of...

Section 744.089 - Report of administrative action taken against insurance producer. - (2) Not later than the 30th day after the initial...

Section 744.091 - Additional conditions under which person licensed as insurer or insurance producer may charge commission or service fee; rules. - (a) Insurance that covers an individual’s person, property or liability;...

Section 744.093 - Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer; rules. - (a) "Retail insurance producer" means an insurance producer who directly...

Section 744.101 - Definitions. - (1) "Business entity" has the meaning given that term in...

Section 744.104 - Travel insurance through travel retailers; direction by limited travel insurance producers; requirements and restrictions; designated employees. - (2) A limited travel insurance producer may direct a travel...

Section 744.107 - Violations; revocation of authorization. - (1) Direct the limited travel insurance producer to implement a...

Section 744.111 - Rules. - Note: 744.111 was enacted into law by the Legislative Assembly...

Section 744.300 - License and indorsement; managing general agent described. - (2) A person shall not act as a managing general...

Section 744.301 - Exemptions from license requirement. - (1) An employee of an insurer, when the employee is...

Section 744.303 - Certificate of errors and omissions insurance; rules. - (2) If the director determines that insurance required under this...

Section 744.306 - Contract between insurer and managing general agent. - (1) The contract must set forth the responsibilities of each...

Section 744.308 - Limitations on authority of insurer and managing general agent. - (2) Neither an insurer nor a managing general agent may...

Section 744.313 - Financial examination; loss reserves; notification of appointment and termination; acts of managing general agent attributed to insurer. - (2) An insurer is ultimately responsible for reporting the loss...

Section 744.318 - Definitions for ORS 744.318 to 744.384. - (1) "Advertising" means any written, electronic or printed communication or...

Section 744.321 - Life settlement providers. - (2) A life settlement provider may use the term "viatical...

Section 744.323 - Life settlement brokers. - (2) A life insurance producer who has been duly licensed...

Section 744.326 - License application; fee. - (2) The director may request biographical, organizational, locational, financial, employment...

Section 744.328 - Issuance of license. - (a) Has not engaged in conduct that would authorize the...

Section 744.331 - Expiration of license; rules for renewal. - (2) Unless the Director of the Department of Consumer and...

Section 744.333 - Individual acting as provider under license of firm or corporation. - (1) The individual is a member or employee of the...

Section 744.338 - Suspension, revocation, refusal to issue or renew license. - (a) Dishonesty, fraud or gross negligence in the conduct of...

Section 744.341 - Terms of contract. - (2) A life settlement provider shall not use a life...

Section 744.343 - Annual report and statement by provider; restrictions on disclosure of information; rules. - (a) If the life settlement provider is a corporation, by...

Section 744.346 - Examination of business and practices of licensee or applicant; records. - (2)(a) A person required to be licensed under ORS 744.321...

Section 744.354 - Disclosure by life settlement provider, broker or investment agent to policy owner. - (a) There are possible alternatives to life settlement contracts, including...

Section 744.362 - Disclosure by insurance company to policy owner; rules. - (a) The life insurance company receives notice from such an...

Section 744.364 - Life settlement contract requirements. - (A) If the owner is the insured, a written statement...

Section 744.367 - Limitations on ability to enter life settlement contract; exceptions. - (a) The policy was issued upon the owner’s exercise of...

Section 744.369 - Unlawful life settlement contract actions. - (2) With respect to a life settlement contract or insurance...

Section 744.372 - Advertising of life settlement contracts; rules. - (2) Every licensee must establish and at all times maintain...

Section 744.374 - Enforcement of life settlement contract provisions; reporting of violations; required antifraud initiatives. - (2) A person in the business of life settlements may...

Section 744.382 - Prohibitions on finder’s fee, solicitations, discrimination. - (a) The physician, naturopathic physician, attorney or accountant of the...

Section 744.384 - Rules; standards. - (1) The director may establish standards for evaluating reasonableness of...

Section 744.502 - Definitions. - (1) "Adjuster" means a person that receives a fee, a...

Section 744.515 - Exemptions from adjuster licensing requirement. - (a) "Automated claims adjudication system" means a preprogrammed computer system...

Section 744.518 - License application; business entity as applicant; fees. - (a) Lists the applicant’s name, residence and business address, present...

Section 744.521 - Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees. - (a) Submitted a complete and accurate application in accordance with...

Section 744.523 - Conditions for licensing, renewing license for or amending license of business entity. - (2) An individual licensee that a business entity employs or...

Section 744.525 - Resident adjuster qualifications; rules. - (a) Establish a residence or place of business in which...

Section 744.528 - Nonresident adjuster qualifications; rules. - (2) An applicant for a license to engage in business...

Section 744.531 - Classes of insurance for adjusters. - (1) Property and casualty insurance. Under this class, in addition...

Section 744.538 - Change of circumstance of nonresident adjuster. - (2) A nonresident adjuster who establishes residence in this state...

Section 744.555 - Temporary adjuster permit; rules. - (b) The director may also issue a temporary permit to...

Section 744.578 - Licensee’s place of business. - (b) If a licensee that is not a resident has...

Section 744.581 - Notices required; rules. - (A) The licensee opens or closes a place of business...

Section 744.584 - Prohibited conduct; penalties and disciplinary action; hearings. - (a) Act in an incompetent or untrustworthy manner. (b) Falsify...

Section 744.602 - Definitions. - (1) "Business entity" means a corporation, limited liability company, partnership,...

Section 744.605 - Insurance consultant’s license required. - (a) The person purports or offers to engage in any...

Section 744.609 - Exemptions. - (1) Any attorney-at-law rendering services in the performance of duties...

Section 744.611 - License application; business entity as applicant; fees. - (a) Lists the applicant’s name, residence and business address, previous...

Section 744.614 - Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees. - (a) Submitted a complete and accurate application in accordance with...

Section 744.617 - Conditions for licensing, renewing license for or amending license of business entity. - (2) An individual licensee that a business entity employs or...

Section 744.619 - Qualifications for resident insurance consultant’s license; rules. - (a) Establish a residence or place of business in which...

Section 744.621 - Qualifications for nonresident insurance consultant’s license; rules. - (2) An applicant for a license to engage in business...

Section 744.626 - Classes of insurance for consultants. - (1) Life insurance. (2) Health insurance. (3) Property and casualty...

Section 744.631 - Change of circumstance of nonresident insurance consultant. - (2) A nonresident insurance consultant who establishes residence in this...

Section 744.635 - Errors and omissions insurance; rules. - (2) If the director determines that errors and omissions insurance...

Section 744.638 - Licensee’s place of business. - (b) If a licensee that is not a resident has...

Section 744.641 - Notices required; rules. - (A) The licensee opens or closes a place of business...

Section 744.644 - Prohibited conduct; penalties and disciplinary action; hearings. - (a) Act in an incompetent or untrustworthy manner. (b) Falsify...

Section 744.650 - Disclosure by insurance consultants; rules. - (a) A description of the nature of the work to...

Section 744.700 - Definitions for ORS 744.700 to 744.740. - (1) "Affiliate" of, or person "affiliated" with, a specific person...

Section 744.702 - Third party administrator license; description of transacting business as third party administrator. - (2) For purposes of ORS 744.700 to 744.740, a person...

Section 744.704 - Exemptions from license requirement; rules. - (a) A person licensed under ORS 744.521 to engage in...

Section 744.706 - Application for license. - (2) The director may request biographical, organizational, locational, financial, employment...

Section 744.710 - Issuance or denial of license. - (2) If the director denies an application, the director shall...

Section 744.712 - Expiration and renewal of license; rules for renewal. - (2) Unless the Director of the Department of Consumer and...

Section 744.718 - Suspension, revocation or refusal of issuance or renewal of license. - (a) Is in an unsound financial condition; (b) Is using...

Section 744.720 - Agreement between insurer and third party administrator. - (2) An insurer and a third party administrator transacting business...

Section 744.722 - Relationship of insurer and third party administrator regarding payments. - (a) Payment to the third party administrator of any premiums...

Section 744.724 - Books and records. - (2) The Director of the Department of Consumer and Business...

Section 744.726 - Errors and omissions insurance; rules. - (2) If the director determines that insurance required under this...

Section 744.730 - Disposition of charges and premiums. - (2) If the charges or premiums deposited in a fiduciary...

Section 744.732 - Contingent fee agreements. - (2) This section does not prohibit: (a) A third party...

Section 744.734 - Notice to insureds regarding third party administrator. - (2) When a third party administrator collects funds, the reason...

Section 744.738 - Annual report. - (2) The annual report shall include the complete names and...

Section 744.740 - Responsibility of insurer using third party administrator. - (2) An insurer is solely responsible for providing competent administration...

Section 744.800 - Qualifications for reinsurance intermediary brokers and managers. - (a) A reinsurance intermediary broker is a person who solicits,...

Section 744.802 - Exemptions from application of requirements for reinsurance intermediary brokers and managers. - (2) When engaged in a relationship described in this subsection,...

Section 744.804 - Conditions under which reinsurance intermediary broker and insurer may enter into transactions. - (1) The insurer may terminate the authority of the reinsurance...

Section 744.806 - Records required to be kept by reinsurance intermediary brokers. - (a) The type of contract, limits, underwriting restrictions, classes or...

Section 744.808 - Prohibition on use of unlicensed reinsurance intermediary broker; requirement that insurer obtain financial statement of reinsurance intermediary broker. - (2) An insurer may not employ an individual who is...

Section 744.810 - Conditions under which reinsurance intermediary manager and reinsurer may enter into transactions. - (1) The reinsurer may terminate the contract for cause upon...

Section 744.812 - Prohibitions on actions of reinsurance intermediary managers. - (1) Cede retrocessions on behalf of the reinsurer that the...

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. - (2) A reinsurer shall annually obtain a copy of statements...

Section 744.816 - Director access to books, accounts and records. - (2) A reinsurance intermediary manager may be examined as if...

Section 744.818 - Errors and omissions insurance for reinsurance intermediary manager; rules. - (2) If the director determines that errors and omissions insurance...

Section 744.850 - Definitions for ORS 744.850 to 744.858. - (1) "Limited license" means a license issued under ORS 744.852...

Section 744.852 - Limited license for rental companies; application; rules. - (2) A rental company that intends to offer insurance as...

Section 744.854 - Kinds of insurance authorized by limited license. - (1) Personal accident insurance covering the risks of travel, including...

Section 744.856 - Conditions for offer or sale of insurance; training; filing officer. - (a) The rental agreement is for a period of 90...

Section 744.858 - Revocation or suspension of limited license; other penalties; application of Insurance Code; rules. - (2) All provisions of the Insurance Code apply to rental...

Section 744.860 - Definitions for ORS 744.860 to 744.870. - (1) "Insurer" means an insurer, a surplus lines insurer or...

Section 744.862 - Limited license to sell insurance; exemption; application; disclosures required; conditions on license. - (b) An owner does not require a license under this...

Section 744.864 - Permissible sales; required notices and disclosures; evidence of coverage; prohibition on representing owner as insurer. - (a) Of the type described in subsection (2) of this...

Section 744.866 - Training program; approval of training materials; certification of training; auditing. - (b) The licensee each year shall submit to the Director...

Section 744.868 - License suspension and revocation or other penalty; rules. - (a) A licensee sells or offers to sell insurance other...

Section 744.870 - Compensation, bonuses and incentives. - (1) An insurer from paying, or a licensee from receiving,...

Section 744.991 - Criminal penalties; restitution. - (2) A person convicted of a violation of ORS 744.369...

Section 744.992 - Civil penalties; civil actions; rescission of life settlement contracts. - (2) If a person violates any provision of ORS 744.318...

Section 744.994 - Effect of license expiration or surrender on director’s investigation or disciplinary proceedings. - (a) "Adjuster" has the meaning given that term in ORS...

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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

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