Statutes, codes, and regulations
Oregon Administrative Code
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 71 - INSURANCE LICENSING
Section 836-071-0315 - Managing General Agents; Dollar Amounts Governing Settlement Authority Procedures Under Contract with Insurer

Or. Admin. Code § 836-071-0315

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Current through Register Vol. 63, No. 12, December 1, 2024
Section 836-071-0315 - Managing General Agents; Dollar Amounts Governing Settlement Authority Procedures Under Contract with Insurer

For the purpose of the requirement of the written contract between a managing general agent and an insurer established under ORS 744.306, if the contract permits the managing general agent to settle claims on behalf of the insurer:

(1) The amount established by the Director for purposes of ORS 744.306(4)(b)(A) is $10,000.
(2) The amount established by the Director for purposes of ORS 744.306(4)(c) is $10,000.

Or. Admin. Code § 836-071-0315

ID 6-1992, f. & cert. ef. 3-26-92

Stat. Auth.: ORS 731.244, ORS 744.300, ORS 744.306, ORS 744.313 & ORS 744.314

Stats. Implemented: