§ 744.635 — Errors and omissions insurance; rules

Oregon § 744.635

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

Text

(1) An insurance consultant shall maintain with the Director of the Department of Consumer and Business Services a current certificate of errors and omissions insurance in an amount established by the director by rule from an insurer authorized to do business in this state or from any other insurer acceptable to the director according to standards established by rule.
(2) If the director determines that errors and omissions insurance required under this section is not generally available at a reasonable cost, the director by rule may suspend the requirement of insurance, but must reimpose the requirement when the insurance becomes available once again.

Legislative History

1985 c.697 §8; 1989 c.701 §63; 1991 c.331 §131; 1991 c.810 §19