Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 27 - DOMESTIC INSURERS; ORGANIZATION; CORPORATE PROCEDURES
Section 836-027-0340 - Agreement with Agent as Alternative to Written Agreement
Universal Citation: OR Admin Rules 836-027-0340
Current through Register Vol. 63, No. 9, September 1, 2024
As an alternative to a written agreement between a domestic insurer and the borrower described in OAR 836-027-0330, the insurer may enter into an agreement with an agent acting on behalf of the insurer, if the agent is a qualified business entity and if the agreement:
(1) Requires the agent to enter into separate agreements with each borrower that are consistent with the requirements of OAR 836-027-0330; and
(2) Prohibits securities lending transactions pursuant to the agreement with the agent or its affiliates.
Stat. Auth.: ORS 731.244 & ORS 733.510
Stats. Implemented: ORS 733.510
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