§ 735.480 — Suspension or revocation of license; refusal to renew; grounds

Oregon § 735.480

• Jurisdiction: Oregon
• Vol.: 18
• Title 56: Insurance
• Ch. 735: Alternative Insurance

Text

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.

Legislative History

1987 c.774 §133; 1989 c.288 §4; 2001 c.191 §49; 2003 c.364 §45