reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 743B - Health Benefit Plans: Individual and Group › Section 743B.601 - Synchronization of prescription drug refills.

(1) As used in this section:
(a) "Health plan" means:
(A) A "health benefit plan" as defined in ORS 743B.005; and
(B) A self-insured health plan offered by the Oregon Health and Science University.
(b) "Synchronization policy" means a procedure for aligning the refill dates of a patient’s prescription drugs so that drugs that are refilled at the same frequency may be refilled concurrently.
(2) A health plan that includes prescription drug coverage shall implement a synchronization policy for the dispensing of prescription drugs to the plan’s enrollees.
(3) A health plan shall reimburse the cost of prescription drugs dispensed in accordance with the plan’s synchronization policy.
(4) If a drug is dispensed in less than a 30-day supply for the purpose of synchronizing a patient’s prescription drug refills, a health plan shall:
(a) Prorate the copayment; or
(b) Adjust the copayment using a method approved by the Department of Consumer and Business Services.
(5) A health plan shall fully reimburse the dispensing fee for partially filled or refilled prescription drugs.
(6) This section does not apply to prescription drugs that:
(a) Are in unit-of-use packaging for which synchronization is not possible;
(b) Are controlled substances; or
(c) Have been identified by the United States Drug Enforcement Administration as having a high risk of diversion.
(7) The coverage required by this section may be limited by formulary restrictions applied to a prescription drug by a health plan.
(8)(a) This section does not apply to a prepaid group practice health plan with at least 200,000 enrollees in this state.
(b) As used in this subsection, "prepaid group practice health plan" means a health care service contractor that provides physician services to its enrollees through an integrated health care delivery system using, primarily, a single group of physicians contracted on a prepaid, capitated basis. [2014 c.25 §2; 2015 c.800 §1; 2017 c.309 §6]
Note:
743B.601 was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 743B or any series therein. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 743B - Health Benefit Plans: Individual and Group › Section 743B.810 - Enrollees covered by workers’ compensation.

(1) A health benefit plan may not exclude, and shall expedite preauthorizations required for, work-related injuries or occupational diseases if:
(a) The injured worker is covered by workers’ compensation insurance and the health benefit plan; and
(b) The injured worker has submitted a workers’ compensation claim for the work-related injury or occupational disease that has not been accepted or denied by the workers’ compensation carrier.
(2) A health benefit plan subject to this section shall guarantee payment for preauthorized medical services to the provider of those medical services according to the terms, conditions and benefits of the plan if the claim is found not to be a compensable workers’ compensation claim.
(3) As used in this section, "health benefit plan" has the meaning given that term in ORS 743B.005.
(4) The provisions of ORS 743A.001 do not apply to this section. [2014 c.94 §2; 2017 c.309 §7]
Note:
743B.810 was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 743B or any series therein. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.012

[1979 c.501 §1; 1989 c.701 §41; renumbered 744.240 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.015

[1967 c.359 §526; 1989 c.701 §22; renumbered 744.054 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.017

[1971 c.231 §8; 1989 c.701 §42; renumbered 744.245 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.025

[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]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.039

[1991 c.810 §22; 2001 c.191 §23; renumbered 744.077 in 2001]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.045

[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]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.052 - Definitions for ORS 744.052 to 744.089.

As used in ORS 744.052 to 744.089:
(1) "Business entity" has the meaning given that term in ORS 731.116.
(2) "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.
(3) "Limited class credit insurance" includes but is not limited to credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, and guaranteed automobile protection insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing the credit obligation that the Director of the Department of Consumer and Business Services determines should be designated a form of limited class credit insurance.
(4) "Limited class credit insurance producer" means a person required to be licensed to sell, solicit or negotiate one or more forms of limited class credit insurance coverage to individuals through a master, corporate, group or individual policy.
(5) "Limited class insurance" includes but is not limited to credit, mortgage, automobile dealer guaranteed automobile protection and any other form of insurance designated by the director as a form of limited class insurance.
(6) "Limited class insurance producer" means a person required to be licensed to sell, solicit or negotiate one or more forms of limited class insurance coverage to individuals through a master, corporate, group or individual policy.
(7) "Negotiate," "sell" and "solicit" have the meanings given those terms in ORS 731.104.
(8) "Terminate" means to cancel the relationship between an insurance producer and the insurer or to revoke an insurance producer’s authority to sell, solicit or negotiate insurance.
(9) "Uniform Application" means the current version of the Uniform Application for resident and nonresident insurance producer licensing, produced by the National Association of Insurance Commissioners.
(10) "Uniform Business Entity Application" means the current version of the Uniform Business Entity Application for resident and nonresident business entities, produced by the National Association of Insurance Commissioners. [2001 c.191 §2; 2003 c.364 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.053 - 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. [2001 c.191 §3; 2003 c.364 §3]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.055

[1967 c.359 §530; 1971 c.231 §27; 1987 c.222 §1; 1989 c.701 §27; renumbered 744.071 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.058 - Written examination; fees; rules.

(1) 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 duties and responsibilities of an insurance producer and the insurance statutes and rules of this state. Except as provided in subsection (2) of this section, the examination required by this section shall be developed and conducted by the Director of the Department of Consumer and Business Services. An individual may apply for a resident insurance producer license only if the individual has established in this state a residence or a place of business for acting as an insurance producer.
(2) The director may make arrangements, including contracting with a private testing service, for developing and administering the examination and collecting applicable fees.
(3) Each individual applying to take an examination shall pay fees as established by the director.
(4) An individual who fails to appear for the examination as scheduled or fails to pass the examination may reapply to take the examination according to requirements and procedures established by the director by rule. [2001 c.191 §5; 2003 c.364 §5]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.059 - Qualifications for license; use of uniform application.

(1) 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 director must find that the individual:
(a) Is at least 18 years of age;
(b) Has not committed an act that is a ground for action on a license set forth in ORS 744.074;
(c) When required by the director, has completed a prelicensing course of study for the lines of authority for which the person has applied;
(d) Has paid all applicable fees; and
(e) Has successfully passed the examination for the lines of authority for which the person has applied.
(2) A business entity acting as an insurance producer is required to obtain an insurance producer license. Application shall be made on the Uniform Business Entity Application. Before approving the application, the director must find that:
(a) The business entity has paid all applicable fees; and
(b) The business entity has designated a licensed insurance producer responsible for the business entity’s compliance with the insurance laws and rules of this state.
(3) The director may require any documents necessary to verify the information contained in an application.
(4) Each insurer that sells, solicits or negotiates any form of limited class credit insurance shall provide to each limited class credit insurance producer a program of instruction, which is subject to review and approval by the director. [2001 c.191 §6; 2003 c.364 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.061 - Banking institution as insurance producer.

(1) 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.
(2) The Insurance Code does not limit or prohibit the licensing, as an insurance producer to transact one or more of the classes of insurance described in ORS 744.062, of any of the following:
(a) A corporation owned in whole or in part by a banking institution under ORS 708A.120, 716.588 or 716.594.
(b) A corporation owned in whole or in part by a financial holding company or a bank holding company, as defined in ORS 706.008. [1989 c.701 §24; 1997 c.631 §548; 2001 c.191 §24; 2001 c.377 §51; 2003 c.364 §7; 2005 c.194 §5]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.062 - Issuance of insurance producer license; rules.

(1) 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 classes of insurance:
(a) Life insurance as defined in ORS 731.170.
(b) Health insurance as defined in ORS 731.162.
(c) Property insurance as defined in ORS 731.182.
(d) Casualty insurance as defined in ORS 731.158.
(e) Variable life insurance, including variable annuities.
(f) Property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes.
(g) Limited class credit insurance.
(h) Any form of insurance designated by the director as a form of limited class insurance.
(i) Title insurance as defined in ORS 731.190. A license for the class of title insurance may be issued only to a resident insurance producer.
(j) Any other class of insurance permitted under the Insurance Code or rules adopted thereunder.
(2) For assistance in performance of the director’s duties, the director may participate with the National Association of Insurance Commissioners, or any affiliate or subsidiary that the National Association of Insurance Commissioners oversees, in a centralized producer licensing registry in which insurance producer licenses and appointments are centrally or simultaneously effected for all states that require an insurance producer license. The director may adopt by rule any uniform standards and procedures as are necessary to participate in the registry, including the centralized collection of fees for licenses or appointments that are processed through the registry.
(3) An insurance producer may apply to amend a license for the purpose of adding or deleting a class of insurance on the license in the manner prescribed for license application in ORS 744.059 or 744.063, or as otherwise prescribed by the director. [2001 c.191 §8; 2003 c.364 §8]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.068 - Required notifications; maintenance of usual and customary records; rules.

(1) 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 insurance producer license.
(2) A resident insurance producer shall keep at the principal place of business of the insurance producer the usual and customary records pertaining to the business under the resident insurance producer license. All such records shall be kept available and open to the inspection of the director during business hours. A resident insurance producer shall keep records of insurance transacted by the insurance producer under the license for three years following expiration of the policy unless the director designates another period.
(3) A nonresident insurance producer shall keep at the principal place of business of the insurance producer the usual and customary records pertaining to the business under the nonresident insurance producer license. All such records shall be kept available and open to the inspection of the director during business hours. For the purpose of this subsection, if a nonresident insurance producer has a place of transacting insurance in this state, that place shall be the principal place of business for the nonresident insurance producer. A nonresident insurance producer shall keep records of insurance transacted by the insurance producer under the nonresident insurance producer license for three years following expiration of the policy unless the director designates another period.
(4) An insurance producer shall notify the director of any of the following changes not later than the 30th day after the date of the change:
(a) A change of address or telephone number of the principal place of business or any location at which the insurance producer transacts business under the license in this state.
(b) The opening or closing of a location at which the insurance producer transacts business under the license in this state.
(c) A change of residence. This paragraph applies only to a resident insurance producer.
(5) Not later than the 30th day after the authority of an individual insurance producer to act for an insurance producer that is a business entity has commenced or terminated, the business entity shall notify the director of the commencement or termination. The director may establish by rule a different period within which the business entity must notify the director under this subsection. [2001 c.191 §11; 2003 c.364 §12]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.073 - Temporary insurance producer license.

(1) 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:
(a) To the surviving spouse or court-appointed personal representative of a licensed insurance producer who dies or becomes mentally or physically disabled to allow adequate time for the sale of the insurance business owned by the insurance producer, for the recovery or return of the insurance producer to the business, or to provide for the training and licensing of new personnel to operate the insurance producer’s business;
(b) To a member or employee of a business entity licensed as an insurance producer, upon the death or disability of the individual designated in the business entity application or the license;
(c) To the designee of a licensed insurance producer entering active service in the Armed Forces of the United States; or
(d) In any other circumstance in which the director determines that the public interest will best be served by the issuance of the license.
(2) The director may by order limit the authority of any temporary licensee in any way that the director determines to be necessary to protect insureds and the public. The director may require the temporary licensee to have a suitable sponsor who is a licensed insurance producer or insurer and who assumes responsibility for all acts of the temporary licensee and may impose other similar requirements designed to protect insureds and the public. The director may revoke a temporary license if the interest of insureds or the public is endangered. A temporary license may not continue after the owner or the personal representative disposes of the business. [2001 c.191 §13; 2003 c.364 §14]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.076 - Payment of commission, service fee or brokerage.

(1) 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.
(2) A person shall not accept a commission, service fee, brokerage or other valuable consideration 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.
(3) Renewal or other deferred commissions may be paid to a person for selling, soliciting or negotiating insurance in this state if the person was required to be licensed as an insurance producer at the time of the sale, solicitation or negotiation and was then so licensed.
(4) An insurer or insurance producer may pay or assign commissions, service fees, brokerages or other valuable consideration to an insurance agency or to persons who do not sell, solicit or negotiate insurance in this state, except when the payment or assignment would violate ORS 746.045 or 746.055. [2001 c.191 §15; 2003 c.364 §16]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.077 - Conditions under which person licensed as insurance producer and consultant may accept commission or fee; rules.

(1) 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 employee benefit plans, insurance for personal, family or household purposes and insurance for commercial purposes, and for any other insurance product as determined appropriate by the director. In developing rules under this subsection, the director shall take into account the requirements and characteristics of the different insurance products and the varying degrees of trade practice regulation needed.
(2) Except as otherwise provided by rule, an insurance producer who is not licensed as an insurance consultant may receive only commission. [Formerly 744.039; 2003 c.364 §17]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.078 - Appointment of insurance producers; rules.

(1) An insurance producer shall not act as an agent of an insurer unless:
(a) The insurance producer is an appointed agent of that insurer; or
(b) 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 and Business Services by rule.
(2) Each insurer shall maintain a current list of insurance producers contractually authorized to accept applications on behalf of the insurer. Each insurer shall make the list available to the director upon request.
(3) An insurance producer may represent as agent under one insurance producer license as many insurers as may appoint the insurance producer in accordance with this section.
(4) Except as provided in a group contract of insurance under subsection (5) of this section, any person who solicits or procures an application for insurance as an agent of the insurer shall in all matters relating to the application for insurance and the policy issued in consequence of the application be regarded as the agent of the insurer issuing the policy and not the agent of the insured. Any provision in the application and policy to the contrary is invalid and of no effect.
(5) A group contract of insurance and the individual certificate issued pursuant to the group contract may contain provisions stating whether the group policyholder acts as the agent of the individual insured or as the agent of the insurer. [2001 c.191 §16; 2003 c.364 §18]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.081 - Termination of appointment.

(1) 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 termination. The notice must specify the reasons for the termination. The insurer shall deliver the notice either in person or by mail at the address last provided by the insurance producer to the insurer. The insurance producer shall not have a cause of action against the insurer as a result of any statement in the notice unless the statement is false and the insurer knew the statement was false when made.
(2) An insurer may terminate an agency appointment without giving the notice required by subsection (1) of this section on any of the grounds specified in this subsection. The following are grounds for termination under this subsection:
(a) The insurance producer’s insurance license is denied, restricted, revoked, suspended or canceled by any public authority;
(b) The insurance producer’s business is sold, transferred or merged and the insurer has not appointed the successor;
(c) The insurance producer is insolvent or fails to remit balances to the insurer in accordance with the agreement;
(d) The insurance producer commits fraud or engages in intentional misconduct;
(e) The insurer amends its certificate of authority in order to discontinue a class of insurance;
(f) The insurer ceases selling insurance in this state; or
(g) The insurer and insurance producer mutually agree to terminate the agency appointment.
(3) An insurance producer may terminate an agency appointment at any time, but the termination shall be without prejudice to the contract rights, if any, of the appointing insurer. The insurance producer shall give written notice of the termination and the date thereof to the director not later than the 30th day after the effective date of the termination, and to the insurer. The director may require reasonable proof from the insurance producer that the insurance producer has given such notice to the insurer. [Formerly 744.175; 2003 c.364 §20]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.082 - 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 residents of this state on the same basis. [2001 c.191 §18; 2003 c.364 §21]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.083 - Trust account for premium funds; commingling; exceptions; rules.

(1) 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.
(2) Except as provided in subsection (3) of this section, a resident insurance producer may not commingle or otherwise combine premiums with any other moneys.
(3) A resident insurance producer may commingle with premium funds in the trust account required by subsection (1) of this section any additional funds the insurance producer deems prudent for the purpose of advancing premiums, establishing reserves for the paying of return premiums, or for any contingencies that may arise in the course of receiving and transmitting premium or return premium funds.
(4) This section does not apply to:
(a) Any financial institution or trust company, as those terms are defined in ORS 706.008, or any entity licensed under ORS chapter 725 or 726.
(b) Any class of insurance producers that the Director of the Department of Consumer and Business Services designates by rule. The director may exempt a class of insurance producer from this section if the director determines that the requirements of this section are unduly burdensome to the insurance producers in relation to the public good served. [Formerly 744.225; 2003 c.364 §22]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.084 - Certificate of deposit in lieu of trust account; rules.

(1) 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 insurance producer who keeps a certificate of deposit shall have satisfactory evidence of the certificate available at all times for inspection by the Director of the Department of Consumer and Business Services.
(2) A certificate of deposit authorized under subsection (1) of this section shall be for an amount at least equal to the average monthly balance of premium funds received and held by the resident insurance producer for the last 12 months. Nothing in this subsection requires that the required amount of the certificate of deposit be calculated, or the amount changed, more often than once a month.
(3) The director may adopt rules specifying what constitutes satisfactory evidence for purposes of subsection (1) of this section.
(4) Authorization to use a certificate of deposit may be revoked by the director at any time upon a determination that the resident insurance producer has failed to comply with the provisions of this section or rules adopted under subsection (3) of this section. Upon revocation, the resident insurance producer shall comply immediately with the provisions of ORS 744.083. [Formerly 744.227; 2003 c.364 §23]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.086 - 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 title insurance ratemaking and unfair trade practices. [Formerly 744.240; 2003 c.364 §24]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.087 - 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. [Formerly 744.245; 2003 c.364 §25]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.089 - Report of administrative action taken against insurance producer.

(1) 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 order, consent to order and other relevant legal documents.
(2) Not later than the 30th day after the initial pretrial hearing date, an insurance producer shall report to the director any criminal prosecution of the insurance producer taken in any jurisdiction. The report shall include a copy of the initial complaint filed, the order resulting from the hearing and any other relevant legal documents. [2001 c.191 §19; 2003 c.364 §26]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.091 - Additional conditions under which person licensed as insurer or insurance producer may charge commission or service fee; rules.

(1) 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:
(a) Insurance that covers an individual’s person, property or liability;
(b) Life or health insurance for groups of fewer than 51 lives; or
(c) Insurance on a commercial or public entity paying combined annual premiums of less than $100,000 for the insurance.
(2) An insurer or insurance producer may charge a commission or service fee other than the commission or fee filed in accordance with ORS 737.205 only if the insurer or insurance producer has a written agreement with the prospective insured prior to the binding or issuance of an insurance policy. The Director of the Department of Consumer and Business Services may establish by rule minimum conditions for written agreements entered into under this subsection. An insurer or insurance producer who enters into a written agreement as provided in this subsection is not in violation of ORS 746.035 or 746.045. [2003 c.364 §17b]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.093 - Solicitation or sale of insurance policy by retail insurance producer or wholesale insurance producer; rules.

(1) As used in this section:
(a) "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.
(b) "Wholesale insurance producer" means an insurance producer who solicits or sells an insurance policy to a prospective insured through a retail insurance producer or negotiates an insurance policy for a prospective insured with a retail insurance producer and does not solicit or sell directly to or negotiate directly with a prospective insured.
(2) A wholesale insurance producer who sells, solicits or negotiates a policy directly with a retail insurance producer and not on behalf of a prospective insured may charge the retail insurance producer a fee or a combination of a fee and a commission if the wholesale insurance producer has a written agreement with the retail insurance producer prior to the binding or issuance of the insurance policy. The charge must be commensurate with the services provided by the wholesale insurance producer.
(3) A retail insurance producer may charge a fee to a prospective insured when the retail insurance producer pays a fee or a combination of a fee and a commission to a wholesale insurance producer under subsection (2) of this section if the retail insurance producer has a written agreement with the prospective insured prior to the binding or issuance of the insurance policy. The fee may not exceed the amount of compensation paid by the retail insurance producer to the wholesale insurance producer.
(4) For the purpose of determining the charge under subsection (2) of this section, the retail insurance producer and wholesale insurance producer may agree to any allocation of the fee that the retail insurance producer charges the consumer under this section. The Director of the Department of Consumer and Business Services may establish by rule minimum conditions for written agreements entered into under this section. An insurer or insurance producer who enters into a written agreement as provided in this section is not in violation of ORS 746.035 or 746.045. [2003 c.364 §26b]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.101 - Definitions.

As used in ORS 744.101 to 744.107:
(1) "Business entity" has the meaning given that term in ORS 731.116.
(2) "Limited travel insurance producer" means:
(a) A managing general agent licensed under ORS 744.300 to 744.316; or
(b) An insurance producer licensed under ORS 744.052 to 744.089 to negotiate, sell or solicit travel insurance.
(3) "Negotiate" has the meaning given that term in ORS 731.104.
(4) "Offer and disseminate travel insurance" means:
(a) To provide general information regarding the travel insurance, including a description of coverage and price;
(b) To disseminate and process applications for travel insurance coverage; or
(c) To collect premiums on behalf of a limited travel insurance producer.
(5) "Sell" has the meaning given that term in ORS 731.104.
(6) "Solicit" has the meaning given that term in ORS 731.104.
(7)(a) "Travel insurance" means insurance coverage for personal risks incidental to planned travel, including:
(A) Interruption or cancellation of a trip or event;
(B) Loss of baggage or personal effects;
(C) Damages to accommodations or rental vehicles; or
(D) Sickness, accident, disability or death occurring during travel.
(b) "Travel insurance" does not include medical plans providing comprehensive medical protection for travelers with trips lasting six months or longer.
(8) "Travel retailer" means a business entity that makes travel arrangements for or provides other travel services to customers. [2015 c.675 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.107 - Violations; revocation of authorization.

If the Director of the Department of Consumer and Business Services determines that a travel retailer has violated any provision of ORS 744.101 or 744.104, the director may, in addition to imposing any penalties authorized under the Insurance Code:
(1) Direct the limited travel insurance producer to implement a corrective action plan with the travel retailer; or
(2) Direct the limited travel insurance producer to revoke its authorization of the travel retailer to transact travel insurance on its behalf and under its license and to remove the travel retailer from its register described in ORS 744.104 (2)(b). [2015 c.675 §4]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.111 - Rules.

The Director of the Department of Consumer and Business Services shall adopt rules to implement and administer the provisions of ORS 744.101 to 744.107. [2015 c.675 §5]
Note:
744.111 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 further explanation.
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.125

[1959 c.367 §1; 1967 c.359 §501; renumbered 743.666]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.130

[Amended by 1955 c.226 §1; 1967 c.359 §502; renumbered 743.669]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.175

[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]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.195

[1967 c.359 §543; 1989 c.413 §12; 1989 c.701 §§32,81d; renumbered 744.123 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.205

[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]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.215

[1967 c.359 §545; 1989 c.413 §13; 1989 c.701 §40; renumbered 744.235 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.225

[1987 c.569 §2; 1989 c.701 §38; 1997 c.631 §549; 2001 c.191 §24b; renumbered 744.083 in 2001]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.227

[1989 c.680 §2; 2001 c.191 §24c; renumbered 744.084 in 2001]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.245

[Formerly 744.017; 1999 c.55 §4; renumbered 744.087 in 2001]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.255

[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]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.260

[1971 c.231 §9; 1983 c.76 §8; 1985 c.697 §16; 1989 c.701 §9; renumbered 744.014 in 1989]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Limited Licenses › Section 744.265

[1967 c.359 §547; 1983 c.76 §9; 1989 c.701 §10; renumbered 744.016 in 1989]