Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 71 - INSURANCE LICENSING › Section 836-071-0560 - Limited License Application, Portable Electronics Insurance Coverage; Required Information

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An
			 applicant for a portable electronics limited license shall submit
			 electronically to the director of the Department of Consumer and Business
			 Services a portable electronics limited license application on the form
			 entitled "Portable Electronics Insurance Vendor." The form is set forth on the
			 Division of Financial Regulation website of the Department of Consumer and
			 Business Services at dfr.oregon.gov.
(2) In addition to the requirements in ORS
			 646A.577(2)(b),
			 the applicant shall include all of the following information in the limited
			 license application:
(a) The applicant's
			 corporate, firm or other business entity name, the business address, e-mail
			 address and telephone number of the principal place of business and the
			 business address and telephone number of each additional location at which the
			 applicant will transact business under the limited license.
(b) All assumed business names and other
			 names under which the applicant will engage in business under the limited
			 license.
(c) Whether any of the
			 following has occurred with respect to the applicant or the employee, agent or
			 authorized representative of the applicant that the applicant is designating as
			 being responsible for the applicant's compliance with ORS
			 646A.575 to
			 646A.592:
(A) Conviction of or indictment for a crime,
			 including a felony involving dishonesty or a breach of trust to which  18 U.S.C. sec. 1033  applies;
(B) A judgment
			 entered against the applicant or person designated by the applicant as being
			 responsible for the applicant's compliance with ORS
			 646A.575 to
			 646A.592, for fraud;
(C) A claim of indebtedness by an insurer or
			 agent, and the details of any such indebtedness; or
(D) Refusal, revocation or suspension of any
			 license to act in any occupational or professional capacity in this or any
			 other state.
(d) All
			 states and provinces of Canada in which the applicant currently holds a license
			 to engage in the transaction of insurance, or has held such a license within
			 ten years prior to the date of the application.
(e) Whether the applicant has ever filed for
			 bankruptcy or been adjudged a bankrupt.
(f) The syllabus for the training program
			 that is developed by the insurer or supervising entity that issued the portable
			 electronics insurance policy to the limited licensee.
(g) A certification by the supervising entity
			 or the applicant that all employees, agents and authorized representatives to
			 be involved in the issuance, sale or offering for sale of portable electronics
			 insurance coverage to customers have completed or will complete the training
			 program under ORS 646A.585(1)(b),
			 prior to issuing, selling or offering for sale portable electronics insurance
			 coverage.
(h) A certification by
			 the supervising entity or the applicant that a copy of all written disclosure
			 materials, as required under ORS
			 646A.582, that are currently
			 being made available to prospective customers of portable electronics or have
			 been made available to prospective customers in the past, shall be maintained
			 by the supervising entity or the applicant. This information shall be
			 maintained by the supervising entity or the applicant for a period of seven
			 years and must be provided to the director, upon request, within 21 calendar
			 days.
(i) Any other information
			 requested by the director in the license application form.