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Oregon Revised Statutes Insurance § 744.002

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) The Director of the Department of Consumer and Business Services may issue a license authorizing a person to act as an adjuster or an insurance consultant. A person licensed to act in one capacity may also be licensed to act in the other capacity if the person meets the appropriate qualifications. For purposes of this chapter, the capacity in which a person is licensed to act constitutes a “license category” or a “category of insurance business.”

(2) A license issued under this section shall set forth each license category in which the licensee may engage. For each license category, the license shall also set forth the class or classes of insurance in which the licensee may engage, as provided in:

(a) ORS 744.531, for the license category of adjuster.

(b) ORS 744.626, for the license category of insurance consultant.

(3) The director may issue resident and nonresident licenses under this section as follows:

(a) The director may issue a resident license to a person if the person is a resident of this state or, if not a resident of this state, the person has a place of transacting insurance in this state.

(b) The director may issue a nonresident license to a person if the person is not a resident of this state.

(4) The director shall issue a license under this section:

(a) If the applicant has completed and submitted to the director an application for the license and has submitted all applicable fees, including any examination fees, as established by the director with the application;

(b) If the director determines that no ground for denial of the license exists under ORS 744.013; and

(c) If the director determines that the applicant has met the applicable qualifications and requirements for each license category, and for each class of insurance for which application is made.

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Cite this article: FindLaw.com - Oregon Revised Statutes Insurance § 744.002 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-56-insurance/or-rev-st-sect-744-002/

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