Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 14 - ALTERNATIVE INSURANCE ORGANIZATIONS
Section 836-014-0290 - Contacts by Life Settlement Provider or Broker

Universal Citation: OR Admin Rules 836-014-0290

Current through Register Vol. 63, No. 9, September 1, 2024

(1) After a life settlement provider has entered into a life settlement contract, neither the life settlement provider nor the life settlement broker may make contact with the insured:

(a) More frequently than once every three months if the insured has a life expectancy of more than one year; and

(b) More frequently than twice each month if the insured has a life expectancy of one year or less.

(2) The life settlement provider shall explain the procedure for contacts authorized in section (1) of this rule to the insured when the life settlement contract is entered into.

(3) The limitation in this rule on contacts by a life settlement provider or life settlement broker does not apply to contacts initiated by the policyholder, certificate holder or insured, to contacts required to inform the insured of any transfer of ownership under OAR 836-014-0280(5) or for keeping the life insurance policy in force.

(4) The disclosure statement required under OAR 836-014-0280 must include a clear description of the permitted contacts with an insured allowed under section (1) of this rule including an explanation of the purpose of such subsequent contacts.

Stat. Auth.: ORS 744.358

Stats. Implemented: ORS 744.358, Sec. 11, Ch. 711, OL 2009

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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