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Oregon Revised Statutes Insurance § 750.575

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

(1) The Director of the Department of Consumer and Business Services may suspend, revoke, refuse to issue or refuse to renew a certificate of registration for any one or any combination of the following reasons:

(a) Fraud or deceit in obtaining or applying for the certificate.

(b) Dishonesty, fraud or gross negligence in the transaction of insurance.

(c) Conduct resulting in a conviction of a felony under the laws of any state or of the United States, to the extent that such conduct may be considered under ORS 670.280.

(d) Conviction of any crime, an essential element of which is dishonesty or fraud, under the laws of any state or of the United States.

(e) Refusal to renew or cancellation, revocation or suspension of authority to transact insurance or business as a legal expense organization or similar entity in another state.

(f) Failure to pay a civil penalty imposed by final order of the director.

(2) An organization holding a certificate that has not been renewed or has been revoked shall surrender the certificate to the director at the director's request.

(3) The director may suspend or refuse to renew a certificate immediately and without hearing pursuant to ORS 183.430 if the facts giving rise to such action demonstrate the organization to be a serious danger to the public's safety, or untrustworthy to maintain the certificate.

(4) Except as provided in subsection (3) of this section, the director may suspend, revoke, refuse to renew or refuse to issue a certificate of registration only after giving an opportunity for a hearing pursuant to ORS chapter 183.

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Cite this article: FindLaw.com - Oregon Revised Statutes Insurance § 750.575 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-56-insurance/or-rev-st-sect-750-575/

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