§ 744.321 — Life settlement providers

Oregon § 744.321

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

Text

(1) A person shall not act as a life settlement provider unless the person holds a license of life settlement provider issued by the Director of the Department of Consumer and Business Services.
(2) A life settlement provider may use the term “viatical settlement provider” to describe the business transacted under the license and may use the term “viatical settlement contract” instead of “life settlement contract.”
(3) A related provider trust must have a written agreement with a licensed life settlement provider under which the licensed life settlement provider is responsible for ensuring compliance with all statutory and regulatory requirements and under which the trust agrees to make all records and files related to life settlement transactions available to the director as if those records and files were maintained directly by the licensed life settlement provider.

Legislative History

1995 c.342 §3; 2009 c.711 §3