§ 744.076 — Payment of commission, service fee or brokerage

Oregon § 744.076

• Jurisdiction: Oregon
• Vol.: 18
• Title 56: Insurance
• Ch.: 744

Text

(1) An insurer or insurance producer may not pay a commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is required to be licensed as an insurance producer and is not so licensed.
(2) A person shall not accept a commission, service fee, brokerage or other valuable consideration for selling, soliciting or negotiating insurance in this state if that person is required to be licensed as an insurance producer and is not so licensed.
(3) Renewal or other deferred commissions may be paid to a person for selling, soliciting or negotiating insurance in this state if the person was required to be licensed as an insurance producer at the time of the sale, solicitation or negotiation and was then so licensed.
(4) An insurer or insurance producer may pay or assign commissions, service fees, brokerages or other valuable consideration to an insurance agency or to persons who do not sell, solicit or negotiate insurance in this state, except when the payment or assignment would violate ORS 746.045 or 746.055.

Legislative History

2001 c.191 §15; 2003 c.364 §16