justicedao/ipfs_state_laws huggingface dataset:
836-072-0005 Definitions (1) “Applicant” means an applicant applying for any of the following: (a) An initial resident license. (b) A renewal of a resident license. (c) An additional line of authority under an existing resident license when a criminal history record check has not been obtained. (d) A resident license under a change of resident license application pursuant to ORS 744.067. (2) “Authorized designee” means a Department employee authorized to obtain and review criminal offender information and other criminal records information about an applicant through criminal records checks and other means, and to conduct a fitness determination in accordance with OAR 836-072-0015. (3) “Criminal records check” means a fingerprint-based Oregon criminal history check or a nationwide criminal history check.. (4) “LEDS” means the Law Enforcement Data System. Statutory/Other Authority: ORS 181.534, 705.135 & 731.244 Statutes/Other Implemented: ORS 181.534, 705.141, 744.001, 744.059 & 744.326 History: ID 19-2008, f. & cert. ef 12-10-08
836-072-0025 Incomplete Fitness Determination (1) The Department may close a final fitness determination as incomplete when: (a) Circumstances change so that an applicant is no longer subject to OAR 836-072-0001 to 836-072-0045; (b) The applicant does not provide materials or information under OAR 836-072-0020 within the time required under that rule; (c) An authorized designee cannot locate or contact the applicant; (d) The applicant fails or refuses to cooperate with an authorized designee’s attempts to acquire other criminal records information under OAR 836-072-0015; or (e) The Department determines that the applicant is not eligible or not qualified for the license for a reason unrelated to the fitness determination process. (2) An applicant does not have a right to a contested case hearing under OAR 836-072-0035 to challenge the closing of a fitness determination as incomplete. Statutory/Other Authority: ORS 181.534, 705.135 & 731.244 Statutes/Other Implemented: ORS 181.534, 705.141, 744.001, 744.059 & 744.326 History: ID 19-2008, f. & cert. ef 12-10-08
836-072-0030 Notice to Applicant of Fitness Determination (1) An authorized designee shall provide, in a format approved by the Department, written notice to an applicant upon completion of a final fitness determination that denies issuance or renewal of a license, or upon the closing of a fitness determination due to incompleteness. In addition: (a) The authorized designee shall record on the notice the date on which the fitness determination was either closed as incomplete or completed. (b) A notice pertaining to a completed final fitness determination must be accompanied by a separate notice addressing the applicant’s right to appeal the Department’s determination under OAR 836-072-0035 and containing the information required by 137-003-0505. (2) An authorized designee shall provide for hand delivery or first class mail delivery of the notice under section (1) of this section as soon as possible after completion or closure of a fitness determination, but in no case later than 14 calendar days after the date of completion or closure, to the address provided by the applicant on the DCBS Criminal Records Request form, or to an updated address as provided in writing by the applicant. Statutory/Other Authority: ORS 181.534, 705.135 & 731.244 Statutes/Other Implemented: ORS 181.534, 705.141, 744.001, 744.059 & 744.326 History: ID 19-2008, f. & cert. ef 12-10-08
836-074-0005 Statutory Authority; Effective Date OAR 836-074-0005 to 836-074-0050 are adopted under the general rulemaking authority of the Director of the Department of Consumer and Business Services under ORS 731.244 for the purpose of carrying out 744.083. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.225 History: ID 19-2006, f. & cert. ef. 9-26-06 ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0010 Definitions As used in OAR 836-074-0005 to 836-074-0050: (1) “Insurance producer includes any person who is licensed by the Department as a resident insurance producer. (2) "Premium Fund" and "Premium Funds" means any premium or other consideration received from or on behalf of an insured for the purpose of effecting or purchasing insurance, and includes return premiums, return premium credits, policy fees and premium taxes. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.225 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0015 Director’s Enforcement Authority The Director may apply any sanction for violation of ORS 744.225 that the Director may apply for any other violation of the Insurance Code or rules adopted thereunder. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.225 History: ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0017 Exemptions OAR 836-074-0005 to 836-074-0050 do not apply to: (1) An insurance producer who is exclusively a salaried employee of an insurer. (2) An insurance producer who sells only industrial life insurance, as that term is defined in ORS 731.166. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0020 Premium Funds Trust Account (1) Except as otherwise provided in OAR 836-074-0025, an insurance producer shall deposit in one or more premium funds trust accounts all premium funds received by the insurance producer under the insurance producer’s license. Each trust account must be located in this state unless the Director gives written permission to the insurance producer to keep the account in another state. In applying for permission, the insurance producer must give written justification for keeping the account outside this state; (2) An insurance producer shall maintain each trust account in one or more of the following forms: (a) In the form of a checking account, demand account, savings account or other account in a state or national bank or savings bank, a state or federal savings association or a state or federal credit union. A trust account under this subsection must be insured by the United States Government or an agency or instrumentality thereof. However, such insurance need not exceed $100,000 for each account or the amount at any time in the account, whichever is less; (b) In the form of an account that solely invests, either directly or through an investment fund, in any or all of the following instruments: United States government bonds and Treasury certificates or other obligations for which the full faith and credit of the United States are pledged for payment of principal and interest, repurchase agreements collateralized by securities issued by the United States and bankers acceptance; (c) In the form of an account in an open-end investment company registered under the Investment Company Act of 1940 that: (A) Limits its portfolio investments to United States-dollar denominated instruments that the board of directors determines present minimal credit risks and that are either of high quality as determined by a nationally recognized statistical rating organization or, in the case of an instrument that is not rated, of comparable quality as determined by the board of directors; and (B) May not purchase any instrument with a remaining maturity of greater than one year or maintain a dollar-weighted average portfolio maturity that exceeds 120 days. (3) Premium funds may be placed in an account under section (2) of this rule only if the premium funds are readily available from the account for payments when due. (4) Each check or other instrument drawn on a trust account must clearly identify that it is drawn on an insurance premium funds trust account. (5) An insurance producer must make each trust account of the agent accessible to the Director for purposes of examination and audit. (6) A trust account may be interest-bearing. (7) For the purpose of OAR 836-074-0005 to 836-074-0050, all premium funds received by an insurance producer on or under any policy of insurance are received in the fiduciary capacity of the insurance producer. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0030 Advancing Return Premiums An insurance producer may advance return premiums from funds of the insurance producer other than from a trust account of the insurance producer, in anticipation of receiving a credit for the return premium from the insurer. When the insurance producer credits the return premium to the trust account, the insurance producer may transfer the advanced credit out of the trust account. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0035 Other Permissible Funds (1) An insurance producer may not deposit in a premium fund trust account any funds other than premium funds, except as follows: (a) Funds reasonably sufficient to pay bank charges; (b) Funds that the insurance producer determines to be prudent for advancing premiums or establishing reserves for the paying of return premiums; (c) Funds for contingencies that may arise in the course of receiving and transmitting premiums. (2) An insurance producer may deposit in a premium fund trust account any premium funds produced in another state. However, premium funds produced in another state must be deposited and paid in the same manner as premium funds under OAR 836-074-0025. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0040 Interest on Trust Funds Unless an insurance producer and the insurer agree to the contrary, interest earned in a premium funds trust account may be retained by the insurance producer and: (1) Used to offset bank charges; or (2) Removed to the operating account of the insurance producer. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0045 Accounting Records; Inspection (1) An insurance producer shall establish and maintain records and an appropriate accounting system for all premium funds received by the insurance producer as provided in this rule. (2) Unless otherwise authorized by the Director, an insurance producer shall establish and maintain the records and accounting system in this state. An insurance producer may establish the records and system in another state if the Director gives written permission to the insurance producer to do so. In applying for permission, the insurance producer must give written justification for keeping the records and system outside this state. (3) An insurance producer shall make the records available in this state for inspection by the Director during regular business hours upon demand. (4) An insurance producer shall make the records available with respect to any premium funds received for a period of three years following the date of the policy expiration. (5) An insurance producer may use any accounting system that effectively isolates each trust account from any operating accounts. A recordkeeping system, whether electronic or manual, must provide an audit trail so that details underlying the summary data, such as invoices, checks and statements, may be identified and made available on request. The system must provide the means of tracing any transaction back to its original source or forwarded to final entry such as is accomplished by a conventional double-entry bookkeeping system. When an automatic data processing system is used, the insurance producer shall make a description of the system available for review by the Director. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0047 Examinations and Audits (1) The Director may examine or audit any trust account and any accounting records of premium funds as the Director determines necessary. (2) The examination or audit shall be performed at the expense of the insurance producer, when the trust account or accounting records are located outside this state. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0048 Other Trust Account Requirements OAR 836-074-0005 to 836-074-0050 do not prohibit an insurer from establishing requirements applicable to trust accounts of insurance producers of the insurer, if the requirements are more restrictive than the provisions of 836-074-0005 to 836-074-0050. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-074-0050 Single Account for Affiliated Persons (1) An insurance producer that is a firm or corporation may use one premium fund trust account for the funds received by an affiliated person operating under its license. (2) An affiliated person of an insurance producer that is a firm or corporation may deposit the premium fund that the affiliated person received in the capacity of an affiliated person directly to the deposit account of the firm or corporation with which the person is affiliated. Statutory/Other Authority: ORS 731 Statutes/Other Implemented: ORS 744.083 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 9-1987, f. 12-22-87, cert. ef. 1-1-88
836-075-0010 Completion of Application The Director may reject a third party administrator license application if it has not been completed by the 90th day after its filing. Statutory/Other Authority: ORS 731.244, 744.303, 744.635, 744.704, 744.706, 744.712 & 744.726 Statutes/Other Implemented: ORS 744.706 History: ID 1-1992, f. & cert. ef. 1-27-92
836-075-0020 Amendment of License Application Information A third party administrator shall notify the Director in writing when the third party administrator changes its principal place of business. The notice shall include the following: (1) The new street address, including city and state. (2) The new mailing address, if different. (3) The new telephone number. Statutory/Other Authority: ORS 731.244, 744.303, 744.635, 744.704, 744.706, 744.712 & 744.726 Statutes/Other Implemented: ORS 744.006, 744.716 & 744.724 History: ID 1-1992, f. & cert. ef. 1-27-92
836-075-0030 Third Party Administrator License Renewal (1) A third party administrator applying for renewal of the license must do the following, as applicable: (a) Not later than the license expiration date, submit electronically a completed renewal application in accordance with directions set forth on the Division of Financial Regulation website of the Department of Consumer and Business Services at dfr.oregon.gov. (b) Submit the renewal fee. (2) The director may allow a third party administrator not more than 30 days to submit missing information on the renewal application form, if the fees have been submitted on or before the expiration date. (3) The director may require on the renewal application any information required with regard to an original application for a license. Statutory/Other Authority: ORS 731.244, 744.303, 744.635, 744.704, 744.706, 744.712 & 744.726 Statutes/Other Implemented: ORS 744.712(3) History: ID 43-2023, minor correction filed 07/24/2023, effective 07/24/2023 ID 18-2012, f. & cert. ef. 11-7-12 ID 12-2012(Temp), f. 6-19-12, cert. ef. 8-1-12 thru 1-25-13 ID 1-1992, f. & cert. ef. 1-27-92
836-075-0040 Annual Report Requirements (1) A third party administrator shall include in the annual report required in ORS 744.738 the balance sheet and income statement of the third party administrator for the immediately preceding calendar year. The balance sheet and income statement must each be verified by two of its officers, if the third party administrator is a corporation, or by two of its partners, if the third party administrator is a partnership. Each annual report must be filed not later than March 1 of each year. (2) The first annual report required under this rule shall be filed not later than March 1, 1993. (3) If the annual report of a third party administrator is for a year other than a calendar year, the third party administrator may file the following instead of an annual report on a calendar year basis: (a) The annual report of the third party administrator that is most current as of March l; and (b) The interim financial statement most current as of March 1. Statutory/Other Authority: ORS 731.244, 744.303, 744.635, 744.704, 744.706, 744.712 & 744.726 Statutes/Other Implemented: ORS 744.738 History: ID 1-1992, f. & cert. ef. 1-27-92
836-075-0045 Format and Instructions for Report Required by ORS 743.818 (1) As used in this rule: (a) “Covered lives” means Oregon residents who are employees, dependents of employees, or individuals otherwise eligible for an individual, student health, association, group or self-insured group health benefit plan or other benefit plan for which reporting is required and who are enrolled for coverage under the terms of the plan as of the close of the calendar quarter. (b) “Third party administrator” means a third party administrator licensed under ORS 744.702. (c) “Zip code” means the 5-digit code: (A) Of the employee or individual policyholder’s Oregon residence; (B) Of an Oregon employer group covered by a stop loss policy; or (C) In circumstances for which an Oregon zip code does not exist, the placeholder code established by the director of the Department of Consumer and Business Services and set forth on the website of the Division of Financial Regulation of the Department of Consumer and Business Services at dfr.oregon.gov. (2) At quarterly intervals covering each year, a third party administrator must submit information pertaining to covered lives through the reporting system of the Division of Financial Regulation in the format established by the director and in accordance with instructions set forth on the website of the Division of Financial Regulation at dfr.oregon.gov. The third party administrator must submit the required information on or before: (a) May 1 for the first calendar quarter. (b) August 1 for the second calendar quarter. (c) November 1 for the third calendar quarter. (d) February 1 for the fourth calendar quarter. (3) A third party administrator claiming exemption from reporting must request an exemption through the reporting system of the Division of Financial Regulation on or before the due date for the calendar quarter for which reporting is first due. (4) A third party administrator submitting information pertaining to covered lives or requesting an exemption from reporting is subject to the electronic reporting or response requirements of OAR 836-011-0005. Statutory/Other Authority: ORS 731.244, 743.745 & ORS 743.818 Statutes/Other Implemented: ORS 743.818 History: ID 44-2023, minor correction filed 07/24/2023, effective 07/24/2023 ID 12-2013, f. 12-31-13, cert. ef. 1-1-14
836-075-0060 ERISA Exemption Registration (1) A person who is required by ORS 744.714 to register with the Director annually, verifying the person’s status as qualifying under 744.704(1)(L) for the exemption from the licensing requirement for third party administrators in 744.702 and from all other provisions of 744.700 to 744.740, shall register with the Director annually. In the registration, the person shall certify that the person qualifies for the exemption because of the person’s status and shall inform the Director: (a) Of the person’s name, business address, mailing address if different from the business address, and telephone number; and (b) Whether the person is acting solely as an administrator of one or more single employers, union-bargaining (Taft-Hartley) plans, rural electric cooperatives or other bona fide employer 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 Security Act of 1974. (2) If the Director determines that a person does not qualify for the exemption under ORS 744.704(1)(L), the person must obtain the license required under 744.702 in order to transact business as a third party administrator. [Publications: Publications referenced are available from the agency.] Statutory/Other Authority: ORS 731.244, 744.303, 744.635, 744.704, 744.706, 744.712 & 744.726 Statutes/Other Implemented: ORS 744.704(1)(l) & 744.714 History: ID 1-1992, f. & cert. ef. 1-27-92
836-075-0070 Errors and Omissions Insurance; Third Party Administrators (1) The amount of insurance for which a third party administrator as described in ORS 744.702 must maintain a certificate of errors and omissions insurance with the Director as required by 744.726 is $500,000 claims made or per occurrence. (2) A third party administrator may obtain insurance required by ORS 744.726 from an insurer other than an authorized insurer if the insurer is not an affiliate, as that term is defined in 744.700, of the third party administrator, and if: (a) The insurance is procured by an Oregon surplus lines licensee from an insurer that is an eligible surplus lines insurer pursuant to the requirements of ORS 735.400 to 735.495; (b) The insurer is an authorized insurer in the state of domicile of the third party administrator or license applicant; or (c) The insurance is procured from a surplus lines insurer that is eligible in the state of domicile of the third party administrator or license applicant, if all requirements of this subsection are satisfied. The insurance for purposes of this subsection must be confirmed by the signature of an Oregon surplus lines licensee who also affirms in writing that the Oregon surplus lines licensee will be the agent for service of process for any action or proceeding involving the third party administrator and an Oregon resident. Statutory/Other Authority: ORS 731.244, 744.303, 744.635, 744.704, 744.706, 744.712 & 744.726 Statutes/Other Implemented: ORS 744.726 History: ID 8-2005, f. 5-18-05, cert. ef. 8-1-05 ID 1-1992, f. & cert. ef. 1-27-92
836-080-0034 Duties of the Existing Insurer When a replacement is involved in a transaction, the existing insurer shall: (1) Retain and be able to produce all replacement notifications received, indexed by replacing insurer, for at least five years or until the conclusion of the next regular examination conducted by the Insurance Department of its state of domicile, whichever is later. (2) Send a letter to the policyholder or contract owner of the right to receive information regarding the existing policy or contract values including, if available, an in force illustration or policy summary if an in force illustration cannot be produced within five business days of receipt of a notice that an existing policy or contract is being replaced. The information shall be provided within five business days of receipt of the request from the policy or contract owner. (3) Upon receipt of a request to borrow, surrender or withdraw any policy values, send a notice advising the policyholder that the release of policy values may affect the guaranteed elements, non-guaranteed elements, face amount or surrender value of the policy from which the values are released. The notice shall be sent separate from the check if the check is sent to anyone other than the policyholder. In the case of consecutive automatic premium loans, the insurer is required to send the notice only at the time of the first loan. Statutory/Other Authority: ORS 731.244 Statutes/Other Implemented: ORS 746.085 & 746.240 History: ID 5-2001, f. 4-16-01, cert. ef. 11-1-01