Insurance Producers and Life Settlements, first half

What this document is

Oregon Revised Statutes Chapter 744 - Insurance Producers and Life Settlements, first half (60 sections, 744.052-744.367) is a state statute published by Oregon Legislative Assembly, oregonlegislature.gov (retrieved via an Internet Archive snapshot of the official site). It is one of the Oregon documents that insurance license exam questions are written from, including oregon life & health, oregon property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• ORS Chapter 744 § 744.062(3) (Amendment of License to Add or Delete a Class)

  “An insurance producer may apply to amend a license for the purpose of adding or deleting a class of insurance on the license in the manner prescribed for license application in ORS 744.059 or 744.063, or as otherwise prescribed by the director.”

• ORS Chapter 744 § 744.074(3) (Business Entity Producer License Discipline)

  “The director may suspend, revoke or refuse to issue or renew the insurance producer license of a business entity if the director determines that an individual licensee’s violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the...”

• ORS Chapter 744 § 744.053 (Requirements to be licensed as insurance producer for class of insurance)

  “A person may not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed as an insurance producer for that class or those classes in accordance with ORS 744.052 to 744.089.”

• ORS Chapter 744 § 744.052(2) (Home state defined)

  ““Home state” means any state, district or territory of the United States, in which an insurance producer maintains the insurance producer’s principal place of residence or principal place of business and is licensed to act as an insurance producer.”

• ORS Chapter 744 § 744.056(1) (Exemptions from insurance producer licensing requirements)

  “ORS 744.052 to 744.089 do not require an insurer to obtain a license as an insurance producer as required by ORS 744.053. For purposes of this section, the term “insurer” does not include an insurer’s officers, directors, employees, subsidiaries or affiliates.”

• ORS Chapter 744 § 744.324 (Life settlement investment agents)

  “If there is more than one purchaser of a single policy and the purchasers are residents of different states, the life settlement investment agent must be licensed by the state in which the purchaser having the largest percentage ownership resides or, if the purchasers hold equal ownership, the...”

• ORS Chapter 744 § 744.072 (Renewal or Reinstatement; Continuing Education)

  “An individual insurance producer who allows the insurance producer license to lapse may apply to the director to reinstate the same license within 12 months from the due date for renewal without having to take and pass a written examination, but the insurance producer must pay an amount for the...”

• ORS Chapter 744 § 744.328(3) (Issuance of license, nonresident applicants)

  “The director may issue a license to a nonresident applicant only if the nonresident applicant files with the director in writing an appointment of the director to be the attorney of the applicant upon whom all legal process in any action or proceeding against the applicant may be served.”

• ORS Chapter 744 § 744.063(3) (Nonresident Insurance Producer License; Change of Residence)

  “A nonresident insurance producer licensed in this state who moves from one state to another state or a resident insurance producer who moves from this state to another state shall file with the director a change of address and provide certification from the new resident state not later than the...”

• ORS Chapter 744 § 744.074(2) (Notice of Refusal to Issue or Renew)

  “If the director refuses to issue or renew an insurance producer license, the director shall notify the applicant or licensee and inform the applicant or licensee in writing of the reason for the refusal to issue or renew and of the applicant’s or licensee’s rights under ORS chapter 183.”

• ORS Chapter 744 § 744.078 (Appointment of Insurance Producers)

  “An insurance producer shall not act as an agent of an insurer unless: (a) The insurance producer is an appointed agent of that insurer; or (b) The insurance producer transacts insurance on behalf of another insurance producer who is an appointed agent of that insurer according to conditions and...”

• ORS Chapter 744 § 744.323(2) (Life settlement brokers)

  “A life insurance producer who has been duly licensed as a resident insurance producer with a life line of authority in this state or the producer’s home state for at least one year and is licensed as a nonresident producer in this state meets the licensing requirements of this section and is...”

Practice this material

Questions about this source

More Oregon sources

• ORS Chapter 746 - Trade Practices (selected Secs. 746.005-746.240)State statute
• Oregon Revised Statutes Chapter 742 - Insurance Policies Generally (152 sections, 742.001-742.710)State statute
• Oregon Revised Statutes Chapter 743 - Health and Life Insurance, first half (74 sections, 743.004-743.268)State statute
• Oregon Revised Statutes Chapter 743 - Health and Life Insurance, second half (116 sections, 743.269-743.826)State statute
• Oregon Revised Statutes Chapter 743A - Health Insurance Mandated Benefits (whole chapter, 743A.001-743A.335)State statute
• Oregon Revised Statutes Chapter 743B - Health Benefit Plans, first half (47 sections, 743B.001-743B.287)State statute
• Oregon Revised Statutes Chapter 743B - Health Benefit Plans, second half (50 sections, 743B.288-743B.810)State statute
• Oregon Revised Statutes Chapter 744 - Insurance Producers and Life Settlements, second half (86 sections, 744.369-744.994)State statute