§ 744.619 — Qualifications for resident insurance consultant’s license; rules

Oregon § 744.619

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

Text

(1) An individual who applies for a license to engage in business as a resident insurance consultant must:
(a) Establish a residence or place of business in which the applicant intends to transact insurance in this state before submitting an application;
(b) Have at least five years’ experience in the insurance business that relates to the categories of insurance business or classes of insurance that the applicant intends to transact under the license or have equivalent education or qualifications that the Director of the Department of Consumer and Business Services specifies by rule;
(c) Provide satisfactory evidence to the director that the applicant has procured and has in effect the insurance required under ORS 744.635; and
(d) Pass an examination that the director by rule recognizes as adequately testing the applicant’s qualifications, competence and knowledge of the categories of insurance business and classes of insurance that the applicant intends to transact under a license and the applicant’s knowledge of an insurance consultant’s duties and responsibilities under the Insurance Code and other laws of this state. The requirement in this paragraph does not apply to an insurance producer who holds a license to transact the categories of insurance business or classes of insurance that the insurance producer intends to transact as an insurance consultant.
(2) A business entity that applies for a license to engage in business as a resident insurance consultant must establish an office in this state that is managed by an individual who is licensed as an insurance consultant.
(3) In addition to the requirements set forth in subsection (1) or (2) of this section, as appropriate, an applicant must satisfy any other requirement the director specifies by rule.
(4) The director may agree or contract with another jurisdiction, regulatory body, private vendor or other person to administer any required examinations and to collect fingerprints, documentation and any fees that an applicant or licensee submits under ORS 744.611 or 744.614 and that the director by rule specifies that the jurisdiction, regulatory body, vendor or person may collect.

Legislative History

1985 c.697 §5; 1989 c.701 §57; 1991 c.810 §17; 2003 c.364 §124; 2019 c.151 §32