The Director of the Department of Consumer and Business Services may suspend, revoke or refuse to renew the license of a surplus lines licensee after notice and hearing as provided under the applicable provision of this state’s laws upon any one or more of the following grounds:
(1) Removal of the surplus lines licensee’s office from this state, if the licensee is a resident insurance producer;
(2) Removal of the surplus lines licensee’s office accounts and records from the principal place of business of the licensee under ORS 744.068 during the period during which such accounts and records are required to be maintained under ORS 735.460;
(3) Closing of the surplus lines licensee’s office for a period of more than 30 business days, unless permission is granted by the director;
(4) Failure to make and file required reports;
(5) Failure to transmit required tax on surplus lines premiums;
(6) Violation of any provision of ORS 735.400 to 735.495; or
(7) For any cause for which an insurance license could be denied, revoked, suspended or renewal refused under ORS 744.074. [1987 c.774 §133; 1989 c.288 §4; 2001 c.191 §49; 2003 c.364 §45]
Section: Previous 735.445 735.450 735.455 735.460 735.465 735.470 735.475 735.480 735.485 735.490 735.492 735.495 735.600 735.605 735.610 NextLast modified: August 7, 2008