Or. Admin. Code § 836-071-0500

Current through Register Vol. 63, No. 12, December 1, 2024

Section 836-071-0500 - Nonresident Licensing and Placement Requirements

(1) This rule establishes requirements that a nonresident surplus lines licensee or a nonresident insurance producer not licensed in this state must satisfy in connection with placement of a surplus lines insurance policy where Oregon is determined to be the home state as defined in ORS 735.405(8).

(2) A person who is licensed as a resident agent or producer in another state must be licensed in this state as a nonresident surplus lines insurance licensee in order to place a surplus lines insurance policy on a risk where Oregon is determined to be the home state.

(3) When a nonresident surplus lines licensee transacts surplus lines insurance on a risk where Oregon is determined to be the home state, the nonresident surplus lines licensee shall comply with the placement requirements in ORS 735.410(1) and (2) related to an exempt commercial purchaser

Or. Admin. Code § 836-071-0500

ID 6-2002, f. & cert. ef. 2-6-02; ID 21-2011, f. 12-16-11, cert. ef. 1-1-12

Stat. Auth.: ORS 731.244 & 735.410

Stats. Implemented: ORS 735.410