744.001 [1989 c.701 §§13,81g; 2001 c.191 §26; 2003 c.364 §117; 2007 c.71 §241; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
Oregon Revised Statutes
Chapter 744 — Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses
296 sections744.002 [1989 c.701 §§2,81e; 1995 c.639 §3; 2001 c.191 §27; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.003 [1989 c.701 §3; 2001 c.191 §28; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.004 [1989 c.701 §4; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.005 [1967 c.359 §525; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.007 [1989 c.701 §§5,81f; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.008 [1989 c.701 §§14,81h; 1991 c.810 §2; 2001 c.191 §29; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.009 [1989 c.701 §6; 2001 c.191 §30; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.010 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.011 [1989 c.701 §11; 1991 c.810 §3; 2001 c.191 §42; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.012 [1979 c.501 §1; 1989 c.701 §41; renumbered 744.240 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.013 [Formerly 744.255; 1991 c.810 §4; 1993 c.447 §84; 2001 c.191 §31; 2003 c.364 §118; 2003 c.576 §258; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.014 [Formerly 744.260; 2001 c.191 §32; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.015 [1967 c.359 §526; 1989 c.701 §22; renumbered 744.054 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.016 [Formerly 744.265; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.017 [1971 c.231 §8; 1989 c.701 §42; renumbered 744.245 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.018 [1989 c.701 §12; 2001 c.191 §43; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.020 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.022 [1989 c.701 §15; 2001 c.191 §33; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.024 [1989 c.701 §16; 2001 c.191 §34; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.025 [1967 c.359 §527; 1971 c.385 §6; 1979 c.501 §3; 1979 c.829 §9a; 1981 c.247 §18; 1983 c.464 §1; 1985 c.762 §188; 1989 c.701 §23; renumbered 744.057 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.026 [1989 c.701 §17; 1995 c.639 §4; 2001 c.191 §35; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.028 [1989 c.701 §18; 2001 c.191 §36; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.030 [Amended by 1965 c.610 §12; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.031 [1989 c.701 §19; 2001 c.191 §37; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.033 [1989 c.701 §20; 2001 c.191 §38; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.035 [1967 c.359 §528; 1985 c.697 §18; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.037 [1989 c.701 §7; 2001 c.191 §44; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.039 [1991 c.810 §22; 2001 c.191 §23; renumbered 744.077 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
744.040 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.045 [1967 c.359 §529; 1983 c.76 §2; 1987 c.916 §8; 1989 c.331 §33; 1989 c.701 §25; renumbered 744.066 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.050 [Repealed by 1953 c.93 §2]repealed
No operative statutory text appears at this designation in the selected edition.
744.051 [1989 c.701 §21; 1991 c.810 §5; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.052 Definitions for ORS 744.052 to 744.089
As used in ORS 744.052 to 744.089: “Business entity” has the meaning given that term in ORS 731.116. “Home state” means any state, district or territory of the United States, in which an insurance producer maintains the insurance producer’s principal place of residence or principal place of business and is licensed to act as an insurance producer. “Limite…
744.053 Requirements to be licensed as insurance producer for class of insurance
A person may not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed as an insurance producer for that class or those classes in accordance with ORS 744.052 to 744.089.
744.054 [Formerly 744.015; 1991 c.810 §6; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.055 [1967 c.359 §530; 1971 c.231 §27; 1987 c.222 §1; 1989 c.701 §27; renumbered 744.071 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.056 Exemptions from insurance producer licensing requirements
ORS 744.052 to 744.089 do not require an insurer to obtain a license as an insurance producer as required by ORS 744.053. For purposes of this section, the term “insurer” does not include an insurer’s officers, directors, employees, subsidiaries or affiliates. A license as an insurance producer is not required of any of the following: An officer, director …
744.057 [Formerly 744.025; 1997 c.631 §547; 1999 c.59 §227; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.058 Written examination; fees; rules
An individual applying for a resident insurance producer license must pass a written examination unless the individual is exempt from the prelicensing education and examination requirement as provided in ORS 744.067. The examination must test the knowledge of the individual concerning the class or classes of insurance for which application is made, the dutie…
744.059 Qualifications for license; use of uniform application
An individual applying for a resident insurance producer license shall apply to the Director of the Department of Consumer and Business Services on the Uniform Application and shall declare that the statements made in the application are true, correct and complete to the best of the individual’s knowledge and belief. Before approving the application, the dir…
744.060 [Repealed by 1953 c.93 §2]repealed
No operative statutory text appears at this designation in the selected edition.
744.061 Banking institution as insurance producer
The Insurance Code does not limit or prohibit the licensing of a banking institution, as defined in ORS 706.008, as an insurance producer to transact one or more of the classes of insurance described in ORS 744.062, except for title insurance. The Insurance Code does not limit or prohibit the licensing, as an insurance producer to transact one or more of th…
744.062 Issuance of insurance producer license; rules
Unless the Director of the Department of Consumer and Business Services refuses to issue or renew a license pursuant to ORS 744.074, a person who has met the requirements of ORS 744.058 and 744.059, or ORS 744.063, shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following clas…
744.063 Nonresident insurance producer license; fee
Unless the Director of the Department of Consumer and Business Services refuses to issue or renew a license pursuant to ORS 744.074, a nonresident person shall receive a nonresident insurance producer license if: The person is currently licensed as a resident insurance producer and is in good standing in the person’s home state; The person has submitted th…
744.064 Persons licensed elsewhere
Unless denied a license pursuant to ORS 744.074, a person who is currently licensed as a resident insurance producer in a Canadian province, in Mexico or in a state that does not grant nonresident insurance producer licenses to residents of this state on the same basis that this state grants nonresident insurance producer licenses under ORS 744.063 shall rec…
744.065 [1967 c.359 §531; 1969 c.336 §14; 1973 c.89 §1; 1983 c.76 §3; 1989 c.413 §10; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.066 [Formerly 744.045; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.067 Exemptions from prelicensing education or examination requirement
An individual who applies for a resident insurance producer license in this state who is or was previously licensed as an insurance producer for the same lines of authority in another state is not required to complete any prelicensing education or examination. The exemption under this subsection is available only if the individual is currently licensed in th…
744.068 Required notifications; maintenance of usual and customary records; rules
An insurance producer shall notify the Director of the Department of Consumer and Business Services prior to transacting business under the insurance producer license under any name other than the insurance producer’s legal name and prior to changing, deleting or adding an assumed business name in connection with the insurance producer’s business under the i…
744.069 [1989 c.701 §26; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.070 [Amended by 1967 c.359 §480; renumbered 743.603]renumbered
No operative statutory text appears at this designation in the selected edition.
744.071 [Formerly 744.055; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.072 Renewal or reinstatement of insurance producer license; continuing education; rules
An insurance producer license remains in effect unless revoked or suspended as long as all applicable fees are paid by the due date and, if the licensee is a resident individual insurance producer, as long as the licensee has met applicable continuing education requirements for resident individual insurance producers under subsection (4) of this section by t…
744.073 Temporary insurance producer license
The Director of the Department of Consumer and Business Services may issue a temporary insurance producer license for a period not to exceed 180 days without requiring a written examination if the director determines that the temporary license is necessary for the servicing of an insurance business in the following cases: To the surviving spouse or court-ap…
744.074 Authority of director to place licensee on probation or to suspend, revoke or refuse to issue or renew license
The Director of the Department of Consumer and Business Services may place a licensee on probation or suspend, revoke or refuse to issue or renew an insurance producer license and may take other actions authorized by the Insurance Code in lieu thereof or in addition thereto, for any one or more of the following causes: Providing incorrect, misleading, incom…
744.075 [1967 c.359 §532; 1983 c.76 §4; 1989 c.701 §28; 1991 c.810 §7; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.076 Payment of commission, service fee or brokerage
An insurer or insurance producer may not pay a commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is required to be licensed as an insurance producer and is not so licensed. A person shall not accept a commission, service fee, brokerage or other valuabl…
744.077 Conditions under which person licensed as insurance producer and consultant may accept commission or fee; rules
The Director of the Department of Consumer and Business Services shall establish by rule the conditions under which a person who is licensed as an insurance producer and as an insurance consultant may accept a commission or a fee, or both, in a transaction or in related transactions. The director may establish different conditions for such products as employ…
744.078 Appointment of insurance producers; rules
An insurance producer shall not act as an agent of an insurer unless: The insurance producer is an appointed agent of that insurer; or The insurance producer transacts insurance on behalf of another insurance producer who is an appointed agent of that insurer according to conditions and limitations established by the Director of the Department of Consumer …
744.079 Termination of relationship with insurance producer
An insurer or authorized representative of the insurer who terminates the appointment, employment, contract or other insurance business relationship with an insurance producer shall notify the Director of the Department of Consumer and Business Services not later than the 30th day after the effective date of the termination, in the manner prescribed by the d…
744.080 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.081 Termination of appointment
An insurer may terminate an agency appointment at any time as provided in this section. Termination shall be without prejudice to the contract rights, if any, of the insurance producer so terminated. The insurer shall give written notice of the termination and the date thereof to the insurance producer at least 90 days prior to the effective date of the term…
744.082 Waiver of requirement for nonresident insurance producer license applicant
The Director of the Department of Consumer and Business Services shall waive any requirement for a nonresident insurance producer license applicant with a valid resident insurance producer license from the applicant’s home state, except the requirements imposed by ORS 744.063, if the applicant’s home state grants nonresident insurance producer licenses to re…
744.083 Trust account for premium funds; commingling; exceptions; rules
All premium funds received by a resident insurance producer shall be accounted for and maintained in a trust account separate from all other business and personal funds. Except as provided in subsection (3) of this section, a resident insurance producer may not commingle or otherwise combine premiums with any other moneys. A resident insurance producer may…
744.084 Certificate of deposit in lieu of trust account; rules
In lieu of the trust account required by ORS 744.083, a resident insurance producer may keep a certificate of deposit from an institution insured by the federal government or an instrumentality thereof if the resident insurance producer has an average monthly balance of premium funds received and held for the last 12 months of at least $2 million. A resident…
744.085 [1967 c.359 §533; 1971 c.231 §28; 1977 c.174 §1; 1977 c.820 §1; 1979 c.501 §4; 1981 c.817 §1; 1983 c.76 §5; 1989 c.701 §29; 1991 c.810 §8; 1993 c.447 §85; 1995 c.334 §1; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.086 Applicability of Insurance Code to insurance producers transacting title insurance
The Legislative Assembly finds that it is in the interest of the insurance-buying public that insurance producers authorized to transact title insurance be subject to the Insurance Code. It is declared to be the intent of the Legislative Assembly that the Insurance Code shall apply to such insurance producer only to the extent necessary for the regulation of…
744.087 Filing insurance producers compensation agreements; filing not public record
The Director of the Department of Consumer and Business Services may require the filing by an insurer of any compensation agreements for insurance producers who are appointed by the insurer as agents of the insurer under ORS 744.078. No such filing shall be deemed a “public record” as defined in ORS 192.311.
744.088 Training requirements to be licensed as insurance producer for long term care insurance
An individual may not sell, solicit or negotiate long term care insurance unless the individual is licensed as an insurance producer for health or life insurance and satisfies the following training requirements: The individual must complete a one-time training course of not less than eight hours before selling, soliciting or negotiating long term care insu…
744.089 Report of administrative action taken against insurance producer
An insurance producer shall report to the Director of the Department of Consumer and Business Services any administrative action taken against the insurance producer in another jurisdiction or by another governmental agency in this state not later than the 30th day after the date of the final disposition of the matter. This report shall include a copy of the…
744.090 [Amended by 1967 c.359 §370; renumbered 743.111]renumbered
No operative statutory text appears at this designation in the selected edition.
744.091 Additional conditions under which person licensed as insurer or insurance producer may charge commission or service fee; rules
An insurer or insurance producer may charge a commission, a service fee or a combination of the two when transacting insurance in other than the following categories of insurance: Insurance that covers an individual’s person, property or liability; Life or health insurance for groups of fewer than 51 lives; or Insurance on a commercial or public entity pa…
744.093 Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer; rules
As used in this section: “Retail insurance producer” means an insurance producer who directly solicits or sells an insurance policy to a prospective insured or directly negotiates an insurance policy with a prospective insured. “Wholesale insurance producer” means an insurance producer who solicits or sells an insurance policy to a prospective insured thro…
744.095 [1967 c.359 §534; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.100 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.101 Definitions
As used in ORS 744.101 to 744.121: “Aggregator site” means a website that displays information about insurance products from more than one insurer, and information about each insurer, for use in comparison shopping. “Blanket travel insurance” means a travel insurance policy that an insurer issues to an eligible group providing coverage for specific classes…
744.104 Travel insurance through travel retailers; direction by limited lines travel insurance producers; requirements and restrictions; designated employees
The Director of the Department of Consumer and Business Services may issue a limited lines travel insurance producer license to a person that has filed an application for a limited lines travel insurance producer license with the director in a form and manner that the director prescribes. A limited lines travel insurance producer must be licensed to solicit,…
744.105 [1967 c.359 §535; 1971 c.231 §29; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.106 Requirements for offering or selling travel protection plan
A person may offer or sell a travel protection plan that combines various features at one price if: Before, or at the time, a customer purchases the travel protection plan, the person: Discloses clearly in writing which of the following features the travel protection plan includes: Travel insurance; Travel assistance services; or A cancellation fee waiv…
744.107 [2015 c.675 §4; 2025 c.71 §8; renumbered 744.121 in 2025]renumbered
No operative statutory text appears at this designation in the selected edition.
744.109 Applicability of certain laws to offerings of travel insurance in this state; other requirements for travel insurance policies and travel protection plans; unlawful practices
Except as otherwise provided in this section, a person that offers travel insurance in this state is subject to ORS chapter 746. ORS 744.101 to 744.121 control if a conflict exists between other provisions of the Insurance Code and ORS 744.101 to 744.121 with respect to marketing or selling travel insurance or a travel protection plan. Marketing, advertisin…
744.110 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.111 [2015 c.675 §5; 2025 c.71 §9; renumbered 744.124 in 2025]renumbered
No operative statutory text appears at this designation in the selected edition.
744.112 Travel insurance administrators
A person may not act as a travel insurance administrator, or represent that the person is a travel insurance administrator, unless the person holds a valid license the Director of the Department of Consumer and Business Services issued under ORS 744.062 or 744.710, as appropriate, for an insurance producer in the classes of property and casualty insurance or…
744.115 [1967 c.359 §536; 1971 c.231 §30; 1973 c.515 §3; 1977 c.174 §2; 1979 c.501 §5; 1981 c.817 §2; 1987 c.774 §138; 1987 c.916 §9; 1989 c.331 §25; 1989 c.701 §30; 1991 c.810 §9; 1993 c.265 §7; 1995 c.334 §2; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.117 Classification of travel insurance
Notwithstanding any other provisions of the Insurance Code, travel insurance must be classified and filed for the purpose of rates and forms under an inland marine line of insurance, except that travel insurance that provides coverage for sickness, accident, disability or death occurring during travel, either exclusively or in conjunction with related covera…
744.119 [Formerly 744.205; 1991 c.810 §10; 1993 c.447 §86; 1997 c.131 §4; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.120 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.121 Violations; revocation of authority; removal from register
If the Director of the Department of Consumer and Business Services determines that a travel retailer has violated any provision of ORS 744.101 to 744.121, the director may, in addition to imposing any penalties authorized under the Insurance Code, direct the limited lines travel insurance producer to implement a corrective action plan with the travel retail…
744.123 [Formerly 744.195; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.124 Rules
The Director of the Department of Consumer and Business Services may adopt rules to implement and administer the provisions of ORS 744.101 to 744.121. Note: 744.124 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 744 or any series therein by legislative action. See Preface to Oregon Revised Statutes for fu…
744.125 [1959 c.367 §1; 1967 c.359 §501; renumbered 743.666]renumbered
No operative statutory text appears at this designation in the selected edition.
744.127 [1989 c.701 §33; 1991 c.810 §11; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.130 [Amended by 1955 c.226 §1; 1967 c.359 §502; renumbered 743.669]renumbered
No operative statutory text appears at this designation in the selected edition.
744.135 [1967 c.359 §537; 1973 c.89 §2; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.140 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.145 [1967 c.359 §538; 1989 c.701 §35; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.150 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.155 [1967 c.359 §539; 1971 c.231 §31; 1975 c.769 §5; 1989 c.413 §11; 1989 c.701 §§34,81c; 1993 c.265 §8; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.160 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.165 [Formerly 739.520; 1971 c.231 §32; 1983 c.265 §1; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.170 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.175 [1967 c.359 §541; 1975 c.769 §6; 1989 c.692 §§1,2; 1989 c.701 §36; 2001 c.191 §24a; renumbered 744.081 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
744.180 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.182 [1989 c.701 §37; 1995 c.639 §5; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.185 [1967 c.359 §542; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.190 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.195 [1967 c.359 §543; 1989 c.413 §12; 1989 c.701 §§32,81d; renumbered 744.123 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.200 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.205 [1967 c.359 §544; 1977 c.820 §2; 1979 c.501 §6; 1981 c.817 §3; 1983 c.76 §6; 1989 c.701 §31; renumbered 744.119 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.215 [1967 c.359 §545; 1989 c.413 §13; 1989 c.701 §40; renumbered 744.235 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.225 [1987 c.569 §2; 1989 c.701 §38; 1997 c.631 §549; 2001 c.191 §24b; renumbered 744.083 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
744.227 [1989 c.680 §2; 2001 c.191 §24c; renumbered 744.084 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
744.231 [1989 c.701 §39; repealed by 2001 c.191 §61]repealed
No operative statutory text appears at this designation in the selected edition.
744.235 [Formerly 744.215; repealed by 1993 c.265 §14]repealed
No operative statutory text appears at this designation in the selected edition.
744.240 [Formerly 744.012; renumbered 744.086 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
744.245 [Formerly 744.017; 1999 c.55 §4; renumbered 744.087 in 2001]renumbered
No operative statutory text appears at this designation in the selected edition.
744.255 [1967 c.359 §546; 1969 c.336 §15; 1983 c.76 §7; 1985 c.697 §15; 1987 c.774 §141; 1989 c.701 §8; renumbered 744.013 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.260 [1971 c.231 §9; 1983 c.76 §8; 1985 c.697 §16; 1989 c.701 §9; renumbered 744.014 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.265 [1967 c.359 §547; 1983 c.76 §9; 1989 c.701 §10; renumbered 744.016 in 1989]renumbered
No operative statutory text appears at this designation in the selected edition.
744.300 License and indorsement; managing general agent described
A person shall not act as a managing general agent with respect to risks located in this state for an authorized insurer unless the person holds a license issued under ORS 744.062 authorizing the person to act as an insurance producer and indorsed to authorize the person to act as a managing general agent. A person shall not act as a managing general agent …
744.301 Exemptions from license requirement
The following persons are exempt from ORS 744.300: An employee of an insurer, when the employee is acting as a managing general agent for the insurer. A United States manager of the United States branch of an alien insurer. An underwriting manager who, pursuant to contract, manages all the insurance operations of the insurer, is under common control with …
744.303 Certificate of errors and omissions insurance; rules
A managing general agent must maintain with the Director of the Department of Consumer and Business Services at all times a current certificate of errors and omissions insurance, in an amount established by the director by rule, from an insurer authorized to transact insurance in this state or from any other insurer acceptable to the director according to st…
744.305 [Formerly 750.010; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.306 Contract between insurer and managing general agent
A person acting as a managing general agent shall not place business with an insurer unless a written contract is in force between the parties. The following requirements apply to such a contract: The contract must set forth the responsibilities of each party. The contract must specify the division of responsibility for a particular function, when both par…
744.308 Limitations on authority of insurer and managing general agent
An insurer shall not allow a managing general agent, without prior approval of the insurer, to pay or commit the insurer to pay a claim over the amount, net of reinsurance, specified in the contract under ORS 744.306. The amount established in the contract shall not exceed one percent of the insurer’s policyholder surplus as of December 31 of the last comple…
744.310 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.311 Books, bank accounts and records
A managing general agent shall maintain all of its books, bank accounts and records in a form usable by the Director of the Department of Consumer and Business Services. The managing general agent shall allow the director access to all of its books, bank accounts and records.
744.313 Financial examination; loss reserves; notification of appointment and termination; acts of managing general agent attributed to insurer
An insurer shall have on file an independently performed financial examination of each managing general agent with which it has done business, in a form prescribed by the Director of the Department of Consumer and Business Services. An insurer is ultimately responsible for reporting the loss reserves. If a managing general agent calculates the loss reserves…
744.314 Rules
The Director of the Department of Consumer and Business Services may adopt rules to carry out ORS 744.300 to 744.316.
744.315 [Formerly 750.020; 1981 c.455 §1; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.316 Authority of director if managing general agent violates provisions of ORS 744.300 to 744.316
If the Director of the Department of Consumer and Business Services finds that a managing general agent has violated any provision of ORS 744.300 to 744.316, the director may order the managing general agent to reimburse the insurer or the rehabilitator or liquidator of the insurer for losses incurred by the insurer because of the violation. The director may…
744.318 Definitions for ORS 744.318 to 744.384
As used in ORS 744.318 to 744.384, 744.991 and 744.992: “Advertising” means any written, electronic or printed communication or any communication by means of recorded telephone messages or transmission on radio, television, the Internet or similar communications media, including film strips, motion pictures and videos, published, disseminated, circulated or…
744.319 [1995 c.342 §2; repealed by 2009 c.711 §23]repealed
No operative statutory text appears at this designation in the selected edition.
744.320 [Amended by 1959 c.369 §5; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.321 Life settlement providers
A person shall not act as a life settlement provider unless the person holds a license of life settlement provider issued by the Director of the Department of Consumer and Business Services. A life settlement provider may use the term “viatical settlement provider” to describe the business transacted under the license and may use the term “viatical settleme…
744.323 Life settlement brokers
A person shall not act as a life settlement broker unless the person holds a license of life settlement broker issued by the Director of the Department of Consumer and Business Services. A life insurance producer who has been duly licensed as a resident insurance producer with a life line of authority in this state or the producer’s home state for at least …
744.324 Life settlement investment agents
A person shall not operate as a life settlement investment agent unless the person holds a license of life settlement investment agent issued by the Director of the Department of Consumer and Business Services or the person has obtained the appropriate license from the equivalent chief insurance regulatory official of the state of residence of the life settl…
744.325 [1967 c.359 §550; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.326 License application; fee
In order to obtain a license to transact business as a life settlement provider or as a life settlement broker, an applicant shall apply for the license on a form prescribed by the Director of the Department of Consumer and Business Services, with payment of any fee required for the application. The director may request biographical, organizational, locatio…
744.328 Issuance of license
If the Director of the Department of Consumer and Business Services determines that an applicant has satisfied all requirements for the license for which application is made, the director shall issue the license to the applicant. The director may issue a license if the director determines that the applicant, as required to be set forth in the application for…
744.330 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.331 Expiration of license; rules for renewal
A license issued under ORS 744.328 expires on its expiration date unless it is renewed on or before its expiration date. Unless the Director of the Department of Consumer and Business Services designates another date, a license expires on the last day of the month in which the second anniversary of the initial issuance date of the license occurs, and on the…
744.333 Individual acting as provider under license of firm or corporation
An individual may act as a life settlement provider under the authority of the license of a firm or corporate life settlement provider, whether or not the individual holds a license as a life settlement provider, if: The individual is a member or employee of the firm or is an employee, officer or director of the corporation; and The individual is designate…
744.335 [1967 c.359 §551; 1981 c.455 §2; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.336 Notification by licensee of material change affecting qualification for license
A licensee shall immediately notify the Director of the Department of Consumer and Business Services of any material change in ownership or control or in any other matter affecting the qualification of the licensee for the license in this state.
744.338 Suspension, revocation, refusal to issue or renew license
The Director of the Department of Consumer and Business Services may suspend, revoke, refuse to issue or refuse to renew a license of a licensee if the director finds one or more of the following with respect to the licensee or applicant for a license: Dishonesty, fraud or gross negligence in the conduct of business as a licensee, or the licensee or applica…
744.340 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.341 Terms of contract
A life settlement contract must be in writing. A life settlement provider shall establish in the contract the terms under which the life settlement provider will pay compensation or anything of value in return for the policyholder’s or certificate holder’s assignment, transfer, sale, devise or bequest of the death benefit or ownership of the insurance policy…
744.343 Annual report and statement by provider; restrictions on disclosure of information; rules
Each life settlement provider shall file a report for the preceding calendar year with the Director of the Department of Consumer and Business Services on or before March 1 of each year, or within such extension of time therefor as the director may grant. The report shall be in the form and contain such information as the director prescribes and shall be ver…
744.345 [Formerly 750.040; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.346 Examination of business and practices of licensee or applicant; records
The Director of the Department of Consumer and Business Services may examine the business and practices of any licensee or applicant for a license when the director determines an examination to be necessary. The director may order a licensee or applicant to produce any records, books, files or other information reasonably necessary to ascertain whether or no…
744.348 [1995 c.342 §14; repealed by 2009 c.711 §23]repealed
No operative statutory text appears at this designation in the selected edition.
744.350 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.351 [1995 c.342 §15; repealed by 2009 c.711 §23]repealed
No operative statutory text appears at this designation in the selected edition.
744.353 [1995 c.342 §16; 2007 c.100 §31; renumbered 744.382 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
744.354 Disclosure by life settlement provider, broker or investment agent to policy owner
With an application for a life settlement, a life settlement provider or life settlement broker shall provide the owner with at least the following disclosures no later than the time the application for the life settlement contract is signed by all parties. The disclosures must be provided in a separate document that is signed by the owner and the life settl…
744.355 [Formerly 750.050; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.356 [1995 c.342 §17; repealed by 2009 c.711 §23]repealed
No operative statutory text appears at this designation in the selected edition.
744.358 [1995 c.342 §18; 2009 c.711 §20; renumbered 744.384 in 2009]renumbered
No operative statutory text appears at this designation in the selected edition.
744.359 Disclosure by life settlement broker or provider to insurer
Prior to the initiation of a plan, transaction or series of transactions, a life settlement broker or life settlement provider shall fully disclose to an insurer the plan, transaction or series of transactions to which the life settlement broker or life settlement provider is a party, to originate, renew, continue or finance a life insurance policy with the …
744.360 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.362 Disclosure by insurance company to policy owner; rules
With respect to each policy issued by an insurance company, the insurance company shall provide notice to the owner of an individual life insurance policy when the insured person under such a policy is 60 years of age or older and: The life insurance company receives notice from such an owner of a request to surrender, in whole or in part, an individual pol…
744.364 Life settlement contract requirements
A life settlement provider entering into a life settlement contract shall first obtain: If the owner is the insured, a written statement from a licensed physician, a naturopathic physician licensed under ORS chapter 685, a physician associate licensed under ORS 677.505 to 677.525 or a nurse practitioner licensed under ORS 678.375 to 678.390 that the owner i…
744.365 [1967 c.359 §554; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.367 Limitations on ability to enter life settlement contract; exceptions
A person may not enter into a life settlement contract at any time prior to the application or issuance of a policy that is the subject of a life settlement contract or within a five-year period commencing with the date of issuance of the insurance policy or certificate. However, this five-year restriction does not apply if the owner certifies to the life se…
744.369 Unlawful life settlement contract actions
With respect to a life settlement contract or insurance policy, it is unlawful for a life settlement broker to knowingly solicit an offer from, effectuate a life settlement contract with or make a sale to a life settlement provider, financing entity or related provider trust that is controlling, controlled by or under common control with a life settlement br…
744.370 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.372 Advertising of life settlement contracts; rules
This section applies to any advertising of life settlement contracts, life purchase agreements or related products or services intended for dissemination in this state, including Internet advertising viewed by persons located in this state. When disclosure requirements are established pursuant to federal regulation, this section is interpreted so as to minim…
744.374 Enforcement of life settlement contract provisions; reporting of violations; required antifraud initiatives
A person may not knowingly or intentionally interfere with the enforcement of the provisions of ORS 744.318 to 744.384, 744.991 and 744.992 or investigations of suspected or actual violations of ORS 744.318 to 744.384, 744.991 and 744.992. A person in the business of life settlements may not knowingly or intentionally permit any person convicted of a felony…
744.375 [Formerly 750.060; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.380 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.382 Prohibitions on finder’s fee, solicitations, discrimination
A licensee may not pay or offer to pay a finder’s fee, commission or other compensation to a person described in this subsection, in connection with a policy insuring the life of an individual with a terminal illness or condition. The prohibition under this subsection applies with respect to payments or offers of payment to: The physician, naturopathic phys…
744.384 Rules; standards
The Director of the Department of Consumer and Business Services may adopt rules for the purpose of carrying out ORS 744.318 to 744.384, 744.991 and 744.992. In addition: The director may establish standards for evaluating reasonableness of payments under life settlement contracts for persons who are terminally ill or chronically ill. The authority includes…
744.385 [Formerly 750.100; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.390 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.395 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.396 [Formerly 750.080; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.400 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.405 [Formerly 750.090; 1979 c.870 §7; repealed by 1987 c.774 §154]repealed
No operative statutory text appears at this designation in the selected edition.
744.410 [Amended by 1963 c.463 §1; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.420 [Amended by 1953 c.322 §2; 1963 c.463 §2; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.430 [Amended by 1955 c.226 §2; 1963 c.463 §3; 1967 c.359 §503; renumbered 743.672]renumbered
No operative statutory text appears at this designation in the selected edition.
744.440 [Amended by 1967 c.359 §504; renumbered 743.675]renumbered
No operative statutory text appears at this designation in the selected edition.
744.450 [Amended by 1967 c.359 §505; renumbered 743.678]renumbered
No operative statutory text appears at this designation in the selected edition.
744.460 [Amended by 1967 c.359 §506; renumbered 743.681]renumbered
No operative statutory text appears at this designation in the selected edition.
744.470 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.480 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.490 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.500 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.502 Definitions
As used in ORS 744.502 to 744.584: “Adjuster” means a person that receives a fee, a commission or other compensation to investigate, negotiate or settle first party or third party losses that arise as claims under the terms of an insurance contract that insures a domestic risk. “Business entity” means a corporation, limited liability company, partnership, …
744.505 Adjuster license required
Except as provided in ORS 744.515, a person may not engage in business as an adjuster unless the person has obtained a license to engage in business as an adjuster under ORS 744.521.
744.510 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.515 Exemptions from adjuster licensing requirement
As used in this section: “Automated claims adjudication system” means a preprogrammed computer system that a licensee or licensed insurance producer, or a person under a licensee’s or licensed insurance producer’s supervision, uses to collect, enter data concerning, calculate and finally resolve a portable electronics insurance claim and that complies with …
744.518 License application; business entity as applicant; fees
An applicant for a license to engage in business as an adjuster shall submit to the Director of the Department of Consumer and Business Services, on a form, in a format and in the manner that the director specifies by rule, an application that: Lists the applicant’s name, residence and business address, present occupation and occupation during the previous …
744.520 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.521 Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees
The Director of the Department of Consumer and Business Services may issue a license for a person to engage in business as an adjuster in this state if the director finds that the person: Submitted a complete and accurate application in accordance with ORS 744.518; Paid all required fees to the director and to any other provider or entity the director spec…
744.523 Conditions for licensing, renewing license for or amending license of business entity
The Director of the Department of Consumer and Business Services may issue, renew or amend a business entity’s license to engage in business as an adjuster under ORS 744.521 only if the director finds that, for each category of insurance business or class of insurance in which the business entity engages or intends to engage, the business entity employs and …
744.525 Resident adjuster qualifications; rules
An individual who applies for a license to engage in business as a resident adjuster must: Establish a residence or place of business in which the applicant intends to transact insurance in this state before submitting an application; Pass an examination that the Director of the Department of Consumer and Business Services by rule recognizes as adequately …
744.528 Nonresident adjuster qualifications; rules
The Director of the Department of Consumer and Business Services may issue a license to engage in business as an adjuster in this state to a person who resides in another state or a province of Canada and is licensed as an adjuster in the state or province or in a designated home state if the state, province or designated home state in which the person is li…
744.530 [1957 c.247 §1; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.531 Classes of insurance for adjusters
The classes of insurance that the Director of the Department of Consumer and Business Services may authorize a licensee to transact under a license to engage in business as an adjuster are: Property and casualty insurance. Under this class, in addition to property and casualty insurance, an adjuster may also adjust losses with respect to marine and transpor…
744.535 [1967 c.359 §562; 1989 c.413 §15; 1989 c.701 §48; 1991 c.810 §14; repealed by 2019 c.151 §46]repealed
No operative statutory text appears at this designation in the selected edition.
744.538 Change of circumstance of nonresident adjuster
A nonresident adjuster may not engage in business as an adjuster in this state if the adjuster no longer holds a valid license as an adjuster in the state, province or designated home state in which the adjuster was licensed. If the adjuster’s license in the state, province or designated home state in which the adjuster was licensed is reinstated and has not…
744.540 [1957 c.247 §2; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.541 Adjustment of claim under policy issued by unauthorized insurer
An adjuster may adjust a loss claimed under an insurance policy issued by an unauthorized insurer other than a surplus line insurer. The adjuster shall notify the Director of the Department of Consumer and Business Services thereof not later than the 20th day after adjusting the loss.
744.545 [1967 c.359 §563; 1983 c.76 §13; 1989 c.413 §16; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.550 [1957 c.247 §3; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.555 Temporary adjuster permit; rules
To facilitate the settlement of claims under insurance policies when there is widespread property loss in this state arising out of a catastrophe, the Director of the Department of Consumer and Business Services may issue a temporary permit to engage in business as an adjuster in this state to any person authorized in another state to adjust losses claimed u…
744.560 [1957 c.247 §4; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.565 [1957 c.247 §5; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.566 [1967 c.359 §565; repealed by 1969 c.336 §21]repealed
No operative statutory text appears at this designation in the selected edition.
744.570 [1957 c.247 §6; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.575 Adjusting claims involving credit life or credit health insurance
No plan or arrangement shall be used with respect to credit life or credit health insurance whereby any person other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claim representative for the insurer in adjusting claims, except that a group policyholder may, by …
744.578 Licensee’s place of business
A licensee that is a resident shall maintain a principal place of business in this state in which the licensee engages in business as an adjuster. The principal place of business may be the licensee’s residence, but the principal place of business must be accessible to the public. If a licensee that is not a resident has a place of business in this state in…
744.580 [1957 c.247 §7; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.581 Notices required; rules
A licensee shall notify the Director of the Department of Consumer and Business Services not later than 30 days after: The licensee opens or closes a place of business in this state or changes the location or contact information for the licensee’s residence or any of the licensee’s places of business in this state; The licensee begins or stops using or cha…
744.584 Prohibited conduct; penalties and disciplinary action; hearings
A licensee or an applicant for a license to engage in business as an adjuster may not: Act in an incompetent or untrustworthy manner. Falsify or act dishonestly with respect to an application for a license or an amendment to the license or with respect to an examination related to obtaining, renewing or reinstating a license. Misappropriate, withhold ille…
744.590 [1957 c.247 §8; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.600 [1957 c.247 §9; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.602 Definitions
As used in ORS 744.602 to 744.665: “Business entity” means a corporation, limited liability company, partnership, limited liability partnership, association or other legal entity that is incorporated, organized or authorized to engage in business in this state. “Insurance consultant” means a person that meets the description in ORS 744.605 of a person that…
744.605 Insurance consultant’s license required
A person may not engage in business as an insurance consultant unless the person holds a valid license the Director of the Department of Consumer and Business Services issues under ORS 744.614 that authorizes the person to engage in business as an insurance consultant. For purposes of this section, a person engages in business as an insurance consultant if: …
744.609 Exemptions
The following persons are not insurance consultants for the purposes of this chapter, and the prohibition in ORS 744.605 does not apply to them: Any attorney-at-law rendering services in the performance of duties of an attorney-at-law. Any certified public accountant or public accountant rendering services in the performance of the duties of a certified pu…
744.610 [1957 c.247 §10; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.611 License application; business entity as applicant; fees
An applicant for a license to engage in business as an insurance consultant shall submit to the Director of the Department of Consumer and Business Services, on a form, in a format and in the manner that the director specifies by rule, an application that: Lists the applicant’s name, residence and business address, previous experience transacting insurance,…
744.614 Powers of director to issue, renew, amend, suspend and reinstate licenses; license expiration; fees
The Director of the Department of Consumer and Business Services may issue a license for a person to engage in business as an insurance consultant in this state if the director finds that the person: Submitted a complete and accurate application in accordance with ORS 744.611; Paid all required fees to the director and to any other provider or entity the d…
744.615 [1985 c.697 §4; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.617 Conditions for licensing, renewing license for or amending license of business entity
The Director of the Department of Consumer and Business Services may issue, renew or amend a business entity’s license to engage in business as an insurance consultant under ORS 744.614 only if the director finds that, for each category of insurance business or class of insurance in which the business entity engages or intends to engage, the business entity …
744.619 Qualifications for resident insurance consultant’s license; rules
An individual who applies for a license to engage in business as a resident insurance consultant must: Establish a residence or place of business in which the applicant intends to transact insurance in this state before submitting an application; Have at least five years’ experience in the insurance business that relates to the categories of insurance busi…
744.620 [1957 c.247 §11; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.621 Qualifications for nonresident insurance consultant’s license; rules
The Director of the Department of Consumer and Business Services may issue a license to engage in business as an insurance consultant to a person who resides in another state or province of Canada and is licensed in that state or province as an insurance consultant or is registered under a regulatory program of the other state or province that the director d…
744.625 [1985 c.697 §6; 1987 c.774 §142; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.626 Classes of insurance for consultants
The classes of insurance that the Director of the Department of Consumer and Business Services may authorize a licensee to transact under a license to engage in business as an insurance consultant are: Life insurance. Health insurance. Property and casualty insurance. Under this class, in addition to property and casualty insurance, an insurance consultan…
744.629 [1985 c.697 §7; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.630 [1957 c.247 §12; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.631 Change of circumstance of nonresident insurance consultant
A nonresident insurance consultant may not engage in business as an insurance consultant in this state if the insurance consultant no longer holds a valid license as an insurance consultant in the state or province in which the insurance consultant resides. If the insurance consultant’s license in the state in which the insurance consultant resides is reinst…
744.635 Errors and omissions insurance; rules
An insurance consultant shall maintain with the Director of the Department of Consumer and Business Services a current certificate of errors and omissions insurance in an amount established by the director by rule from an insurer authorized to do business in this state or from any other insurer acceptable to the director according to standards established by…
744.638 Licensee’s place of business
A licensee that is a resident shall maintain a principal place of business in this state in which the licensee engages in business as an insurance consultant. The principal place of business may be the licensee’s residence, but the principal place of business must be accessible to the public. If a licensee that is not a resident has a place of business in t…
744.639 [1985 c.697 §9; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.640 [1957 c.247 §13; repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.641 Notices required; rules
A licensee shall notify the Director of the Department of Consumer and Business Services not later than 30 days after: The licensee opens or closes a place of business in this state or changes the location or contact information for the licensee’s residence or any of the licensee’s places of business in this state; The licensee begins or stops using or cha…
744.644 Prohibited conduct; penalties and disciplinary action; hearings
A licensee or an applicant for a license to engage in business as an insurance consultant may not: Act in an incompetent or untrustworthy manner. Falsify or act dishonestly with respect to an application for a license or an amendment to the license or with respect to an examination related to obtaining, renewing or reinstating a license. Misappropriate, w…
744.645 [1985 c.697 §10; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.650 Disclosure by insurance consultants; rules
An insurance consultant shall furnish to each client and prospective client a written disclosure statement containing the following information: A description of the nature of the work to be performed by the insurance consultant. The applicable occupational and educational background of the insurance consultant. The area or areas of insurance in which the…
744.655 Rebates prohibited
An insurance consultant may not give or receive or offer to give or receive a rebate of all or a part of any fee or other expenses charged for services or any earnings, profit, dividends or other benefit accruing to the insurance consultant from the services provided by the insurance consultant.
744.660 [1985 c.697 §13; repealed by 1989 c.701 §81]repealed
No operative statutory text appears at this designation in the selected edition.
744.665 Continuing education; rules
The Director of the Department of Consumer and Business Services by rule may establish requirements for continuing education that each insurance consultant must satisfy as a condition for continuation of the license. THIRD PARTY ADMINISTRATORS
744.700 Definitions for ORS 744.700 to 744.740
As used in ORS 744.700 to 744.740: “Affiliate” of, or person “affiliated” with, a specific person means any person who directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, a specified person. “Control” has the meaning given that term in ORS 732.548. “Insurer” includes a health care servi…
744.702 Third party administrator license; description of transacting business as third party administrator
Subject to ORS 744.704, a person shall not transact business or purport or offer to transact business as a third party administrator in this state unless the person holds a third party administrator license issued by the Director of the Department of Consumer and Business Services. For purposes of ORS 744.700 to 744.740, a person transacts or purports or of…
744.704 Exemptions from license requirement; rules
The following persons are exempt from the licensing requirement for third party administrators in ORS 744.702 and from all other provisions of ORS 744.700 to 744.740 applicable to third party administrators: A person licensed under ORS 744.521 to engage in business as an adjuster, whose activities are limited to adjustment of claims and whose activities do …
744.706 Application for license
In order to obtain a license to transact business as a third party administrator, an applicant shall apply for the license on a form prescribed by the Director of the Department of Consumer and Business Services, with payment of any fee required for the application. The director may request biographical, organizational, locational, financial, employment and…
744.708 Waiver of information requirement
Upon request from a third party administrator, the Director of the Department of Consumer and Business Services may waive requirements established pursuant to ORS 744.706 for information to be included in or with the application if the third party administrator has a valid license or other document of authority as a third party administrator issued in a stat…
744.710 Issuance or denial of license
If the Director of the Department of Consumer and Business Services determines that an applicant has satisfied all requirements for a license as a third party administrator, the director shall issue the license to the applicant. The director shall not issue a license if the director determines that the third party administrator, or any individual responsible…
744.712 Expiration and renewal of license; rules for renewal
A license of a third party administrator expires on its expiration date unless it is renewed on or before its expiration date. Unless the Director of the Department of Consumer and Business Services designates another date, a license expires on the last day of the month in which the second anniversary of the initial issuance date of the license occurs, and …
744.714 Registration of persons exempt from licensure
A person who is exempt from the requirement of a license as a third party administrator under ORS 744.704 because the person acts solely as an administrator of one or more bona fide employee benefit plans established by an employer or an employee organization, or both, for which the Insurance Code is preempted pursuant to the Employee Retirement Income Secur…
744.716 Notification of change in ownership or control
A third party administrator shall immediately notify the Director of the Department of Consumer and Business Services of any material change in ownership or control or in any other matter affecting the qualification of the third party administrator for a license as a third party administrator in this state.
744.718 Suspension, revocation or refusal of issuance or renewal of license
The Director of the Department of Consumer and Business Services shall suspend, revoke or refuse to renew a license of a third party administrator if the director finds that the third party administrator: Is in an unsound financial condition; Is using such methods or practices in the conduct of business so as to render further transaction of business by th…
744.720 Agreement between insurer and third party administrator
A third party administrator licensed under ORS 744.702 may transact business as a third party administrator only pursuant to a written agreement between the third party administrator and the insurer. The agreement shall contain all provisions required by this section. However, any provision that does not apply to the functions to be performed by the third pa…
744.722 Relationship of insurer and third party administrator regarding payments
When an insurer uses the services of a third party administrator: Payment to the third party administrator of any premiums or charges for insurance by or on behalf of the insured party shall be considered to have been received by the insurer. Payment of return premiums or claim payments forwarded by the insurer to the third party administrator shall not be…
744.724 Books and records
Except as provided in subsection (4) of this section, a third party administrator shall maintain and make available to the insurer complete books and records of each transaction performed on behalf of the insurer. The books and records shall be maintained in accordance with prudent standards of insurance recordkeeping and must be maintained for a period of n…
744.726 Errors and omissions insurance; rules
A third party administrator must maintain with the Director of the Department of Consumer and Business Services at all times a current certificate of errors and omissions insurance, in an amount established by the director by rule, from an insurer authorized to transact insurance in this state or from any other insurer acceptable to the director according to…
744.728 Advertising
A third party administrator may use only such advertising pertaining to the business underwritten by an insurer that the insurer has approved in advance of its use.
744.730 Disposition of charges and premiums
A third party administrator shall hold in a fiduciary capacity all insurance charges or premiums collected by the third party administrator on behalf of or for an insurer, and all return premiums received from the insurer. The third party administrator shall immediately remit all charges, premiums or return premiums to the person entitled to them or shall de…
744.732 Contingent fee agreements
A third party administrator shall not enter into any agreement or understanding with an insurer the effect of which is to make the amount of the third party administrator’s commissions, fees or charges contingent upon savings effected in the adjustment, settlement and payment of losses covered by the obligations of the insurer. This section does not prohibi…
744.734 Notice to insureds regarding third party administrator
When an insurer uses the services of a third party administrator, the third party administrator shall provide to covered individuals a written notice approved by the insurer that advises them of the identity of and relationship among the third party administrator, the policyholder and the insurer. When a third party administrator collects funds, the reason …
744.736 Delivery from insurer to insured
When the third party administrator receives policies, certificates, booklets, termination notices or other written communications from the insurer for delivery to insured parties or covered individuals, the third party administrator shall promptly make the delivery after receiving instructions from the insurer.
744.738 Annual report
Each third party administrator shall file an annual report for the preceding calendar year with the Director of the Department of Consumer and Business Services on or before March 1 of each year, or within such extension of time therefor as the director may grant. The report shall be in the form and contain such information as the director prescribes and sha…
744.740 Responsibility of insurer using third party administrator
An insurer who uses the services of a third party administrator is responsible for determining the benefits, premium rates, underwriting criteria and claims payment procedures applicable to the coverage and for securing any reinsurance. The rules pertaining to such matters must be provided in writing by the insurer to the third party administrator. An insur…
744.800 Qualifications for reinsurance intermediary brokers and managers
For purposes of ORS 744.800 to 744.818: A reinsurance intermediary broker is a person who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer without acting as a reinsurance intermediary manager on behalf of the insurer. A reinsurance intermediary manager is a person who has authority to bind a reinsurer or wh…
744.802 Exemptions from application of requirements for reinsurance intermediary brokers and managers
An officer or employee of a ceding insurer is not subject to the requirements of ORS 744.800 to 744.818 that apply to reinsurance intermediary brokers, with respect to the ceding insurer. When engaged in a relationship described in this subsection, the following persons are not subject, with respect to the reinsurer in the relationship, to the requirements …
744.804 Conditions under which reinsurance intermediary broker and insurer may enter into transactions
A reinsurance intermediary broker and the insurer it represents in the capacity of a reinsurance intermediary broker may enter one or more transactions between them only pursuant to a written authorization that specifies the responsibilities of each party. The authorization must at least provide that: The insurer may terminate the authority of the reinsuran…
744.806 Records required to be kept by reinsurance intermediary brokers
A reinsurance intermediary broker must keep a complete record for each transaction of a contract of reinsurance as provided in this subsection. For each contract of reinsurance transacted by the reinsurance intermediary broker that is limited to first party property coverages, the reinsurance intermediary broker must keep the record for not less than five ye…
744.808 Prohibition on use of unlicensed reinsurance intermediary broker; requirement that insurer obtain financial statement of reinsurance intermediary broker
An insurer may not engage the services of any person to act as a reinsurance intermediary broker on its behalf unless the person is licensed as a reinsurance intermediary broker as required by ORS 744.800. An insurer may not employ an individual who is employed by a reinsurance intermediary broker with which it transacts business unless the reinsurance inte…
744.810 Conditions under which reinsurance intermediary manager and reinsurer may enter into transactions
A reinsurance intermediary manager and the reinsurer it represents in that capacity may enter a transaction only pursuant to a written contract that specifies the responsibilities of each party and otherwise satisfies the requirements of this section. The contract must be approved by the board of directors of the reinsurer. Not later than the 30th day before…
744.812 Prohibitions on actions of reinsurance intermediary managers
A reinsurance intermediary manager may not do any of the following: Cede retrocessions on behalf of the reinsurer that the reinsurance intermediary manager represents, except that the reinsurance intermediary manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance under…
744.814 Prohibition on use of unlicensed reinsurance intermediary manager; requirement that reinsurer obtain financial statement of reinsurance intermediary manager and opinion of actuary
A reinsurer may not engage the services of any person to act as a reinsurance intermediary manager on its behalf unless the person is licensed to act as a reinsurance intermediary manager as required by ORS 744.800. A reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary manager that the reinsurer h…
744.816 Director access to books, accounts and records
The Director of the Department of Consumer and Business Services may examine any reinsurance intermediary broker and any reinsurance intermediary manager. The director shall have access to all books, bank accounts and records of a reinsurance intermediary broker or reinsurance intermediary manager being examined. All such books, bank accounts and records mus…
744.818 Errors and omissions insurance for reinsurance intermediary manager; rules
A resident reinsurance intermediary acting as a reinsurance intermediary manager shall maintain with the Director of the Department of Consumer and Business Services a current certificate of errors and omissions insurance in an amount established by the director by rule from an insurer authorized to do business in this state or from any other insurer accepta…
744.820 Director authority if reinsurance intermediary broker or manager violates provisions of ORS 744.800 to 744.818
If the Director of the Department of Consumer and Business Services finds that a reinsurance intermediary broker or a reinsurance intermediary manager has violated any provision of ORS 744.800 to 744.818, the director may order the reinsurance intermediary broker or reinsurance intermediary manager to reimburse the insurer, reinsurer, rehabilitator or liquid…
744.850 Definitions for ORS 744.850 to 744.858
As used in ORS 744.850 to 744.858: “Limited license” means a license issued under ORS 744.852 that authorizes a rental company to offer or sell insurance as provided in ORS 744.854. “Rental agreement” means a written agreement setting forth the terms and conditions governing use of a vehicle provided by a rental company for rent. “Rental company” means a …
744.852 Limited license for rental companies; application; rules
The Director of the Department of Consumer and Business Services shall adopt rules to specify information that rental companies must submit in applying for a limited license. A rental company that intends to offer insurance as described in ORS 744.854 shall file a limited license application with the director in such form and containing such information as …
744.854 Kinds of insurance authorized by limited license
A limited license issued under ORS 744.852 authorizes a rental company to offer and sell the following kinds of insurance in connection with the rental of vehicles: Personal accident insurance covering the risks of travel, including but not limited to accident and health insurance that provides coverage to renters and other occupants of the rental vehicle f…
744.856 Conditions for offer or sale of insurance; training; filing officer
A rental company that obtains a limited license under ORS 744.852 may not offer or sell insurance pursuant to ORS 744.854 unless: The rental agreement is for a period of 90 consecutive days or less. At every location where rental agreements are executed, written material is available to prospective renters that: Summarizes clearly and correctly the materi…
744.858 Revocation or suspension of limited license; other penalties; application of Insurance Code; rules
If a rental company issued a limited license under ORS 744.852 offers or sells insurance not authorized by ORS 744.854, or violates any provision of ORS 744.856, the Director of the Department of Consumer and Business Services may, after notice and hearing, revoke or suspend the limited license or may impose such other penalties as the director prescribes, i…
744.860 Definitions for ORS 744.860 to 744.870
As used in ORS 744.860 to 744.870: “Insurer” means an insurer, a surplus lines insurer or an insurance producer. “Licensee” means an owner that receives a limited license to sell insurance in accordance with ORS 744.860 to 744.870. “Occupant” has the meaning given that term in ORS 87.685. “Owner” has the meaning given that term in ORS 87.685. “Personal …
744.862 Limited license to sell insurance; exemption; application; disclosures required; conditions on license
An owner may not sell insurance to an occupant without applying for and receiving a limited license under this section. An owner does not require a license under this section if the owner displays or makes available materials related to an insurer’s insurance coverage but does not sell the insurance or otherwise benefit from the insurer’s insurance sales. …
744.864 Permissible sales; required notices and disclosures; evidence of coverage; prohibition on representing owner as insurer
A licensee may sell insurance only: Of the type described in subsection (2) of this section; In connection with and incident to renting individual storage space to an occupant at a self-service storage facility; and In accordance with the requirements set forth in subsection (3) of this section. A licensee may sell insurance that covers an occupant only …
744.866 Training program; approval of training materials; certification of training; auditing
A licensee must provide a training program for the licensee’s employees or agents that sell insurance on the licensee’s behalf. The training program must instruct the employees or agents about the coverage the insurance provides and about the provisions of ORS 744.860 to 744.870. The licensee each year shall submit to the Director of the Department of Consu…
744.868 License suspension and revocation or other penalty; rules
The Director of the Department of Consumer and Business Services may suspend or revoke a limited license the director issued under ORS 744.862, or may impose another penalty the director prescribes by rule, if: A licensee sells or offers to sell insurance other than insurance described in ORS 744.864; An owner sells or offers to sell insurance to an occupa…
744.870 Compensation, bonuses and incentives
ORS 744.860 to 744.870 do not prohibit: An insurer from paying, or a licensee from receiving, a commission, fee or other compensation for selling the insurer’s insurance; or A licensee or owner from paying an employee or agent of the licensee or owner a bonus, incentive payment or other compensation if the bonus, incentive payment or compensation does not …
744.872 Rules
The Director of the Department of Consumer and Business Services may adopt rules to implement and administer the provisions of ORS 744.860 to 744.870.
744.990 [Repealed by 1967 c.359 §704]repealed
No operative statutory text appears at this designation in the selected edition.
744.991 Criminal penalties; restitution
Violation of ORS 744.369, in addition to any applicable prescribed denial, suspension or revocation of any license or civil forfeiture, shall be punishable upon conviction as for the crime of theft under ORS 164.015 to 164.135 or the crime of forgery or related offenses under ORS 165.002 to 165.070. A person convicted of a violation of ORS 744.369 may be or…
744.992 Civil penalties; civil actions; rescission of life settlement contracts
A person who violates any provision of ORS 744.318 to 744.384, 744.991 and 744.992 is subject to civil penalties under ORS 731.988 and cease and desist orders under ORS 731.252. If a person violates any provision of ORS 744.318 to 744.384, 744.991 and 744.992, the Director of the Department of Consumer and Business Services may seek an injunction in a court…
744.994 Effect of license expiration or surrender on director’s investigation or disciplinary proceedings
As used in this section: “Adjuster” has the meaning given that term in ORS 744.502; “Insurance consultant” has the meaning given that term in ORS 744.602; and “Licensee” means a person that has obtained a license to engage in business as an adjuster, an insurance consultant or an insurance producer. A license expiration or a licensee’s voluntary surrende…