Oregon Statutes - Chapter 744 - Insurance Producers; Life Settlement Providers, Brokers and Contracts; Adjusters; Consultants; Third Party Administrators; Reinsurance Intermediaries; Rental Company Limited Licenses - Section 744.323 - Life settlement brokers.

(1) A person shall not act as a life settlement broker unless the person holds a license of life settlement broker issued by the Director of the Department of Consumer and Business Services.

(2) The term “life settlement broker” does not apply to an attorney, accountant or financial planner retained to represent the policyholder or certificate holder unless compensation paid to the attorney, accountant or financial planner is paid by the life settlement provider.

(3) A life settlement broker may use the term “viatical settlement broker” to describe the business transacted under the license and may use the term “viatical settlement contract” instead of “life settlement contract.” [1995 c.342 §4]

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Last modified: August 7, 2008