Oregon Statutes 744.619 – Qualifications for resident insurance consultants license; rules
(1) An individual who applies for a license to engage in business as a resident insurance consultant must:
Terms Used In Oregon Statutes 744.619
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(a) Establish a residence or place of business in which the applicant intends to transact insurance in this state before submitting an application;
(b) Have at least five years’ experience in the insurance business that relates to the categories of insurance business or classes of insurance that the applicant intends to transact under the license or have equivalent education or qualifications that the Director of the Department of Consumer and Business Services specifies by rule;
(c) Provide satisfactory evidence to the director that the applicant has procured and has in effect the insurance required under ORS § 744.635; and
(d) Pass an examination that the director by rule recognizes as adequately testing the applicant’s qualifications, competence and knowledge of the categories of insurance business and classes of insurance that the applicant intends to transact under a license and the applicant’s knowledge of an insurance consultant’s duties and responsibilities under the Insurance Code and other laws of this state. The requirement in this paragraph does not apply to an insurance producer who holds a license to transact the categories of insurance business or classes of insurance that the insurance producer intends to transact as an insurance consultant.
(2) A business entity that applies for a license to engage in business as a resident insurance consultant must establish an office in this state that is managed by an individual who is licensed as an insurance consultant.
(3) In addition to the requirements set forth in subsection (1) or (2) of this section, as appropriate, an applicant must satisfy any other requirement the director specifies by rule.
(4) The director may agree or contract with another jurisdiction, regulatory body, private vendor or other person to administer any required examinations and to collect fingerprints, documentation and any fees that an applicant or licensee submits under ORS § 744.611 or 744.614 and that the director by rule specifies that the jurisdiction, regulatory body, vendor or person may collect. [1985 c.697 § 5; 1989 c.701 § 57; 1991 c.810 § 17; 2003 c.364 § 124; 2019 c.151 § 32]
[1957 c.247 § 11; repealed by 1967 c.359 § 704]