Oregon Statutes - Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Rental Company 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 individualís 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 entityís 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]

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Last modified: August 7, 2008