Oregon Statutes - Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Rental Company Limited Licenses - Section 744.316 - Authority of director if managing general agent violates provisions of ORS 744.300 to 744.316.

If the Director of the Department of Consumer and Business Services finds that a managing general agent has violated any provision of ORS 744.300 to 744.316, the director may order the managing general agent to reimburse the insurer or the rehabilitator or liquidator of the insurer for losses incurred by the insurer because of the violation. The director may take action under this section in addition to or instead of any other action the director may take under the Insurance Code. [1993 c.447 §63c]

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Last modified: August 7, 2008