Current through Register Vol. 63, No. 9, September 1, 2024
(1) On and after
October 1, 2000, a rental company must hold a limited license in order to
transact insurance as authorized by ORS
744.854. An applicant for a
limited license as a rental company as authorized by 744.854 shall apply for a
limited license to the director of the Department of Consumer and Business
Services electronically on a form established by the director in accordance
with directions set forth on the Division of Financial Regulation website of
the Department of Consumer and Business Services at dfr.oregon.gov. The
applicant shall include the following information in the application:
(a) The applicant's corporate, firm or other
business entity name, the business address and telephone number of the
principal place of business and the business address and telephone number of
each additional location at which the applicant will transact business under
the license;
(b) All assumed
business names and other names under which the applicant will engage in
business under the license;
(c) The
names of all officers and directors or partners, or the sole proprietor or the
owners if the applicant is other than a corporation or a partnership, and the
name of the executive designated as the statewide filing officer as required by
ORS 744.856;
(d) Whether any of the following has occurred
with respect to an officer or director of the applicant, or a partner, or the
sole proprietor or any of the owners if the applicant is other than a
corporation or a partnership:
(A) Conviction
of or indictment for a crime, including a felony involving dishonesty or a
breach of trust to which 18
U.S.C. sec. 1033 applies;
(B) A judgment entered against the officer,
director, partner, sole proprietor or owner if the applicant is other than a
corporation or a partnership, for fraud;
(C) A claim of indebtedness by an insurer or
agent, and the details of any such indebtedness; or
(D) Refusal, revocation or suspension of any
license to act in any occupational or professional capacity in this or any
other state;
(e) All
states and provinces of Canada in which the applicant or an officer, director
or partner of the applicant, or a sole proprietor or owner if the applicant is
other than a corporation or a partnership, currently holds a license to engage
in the transaction of insurance, or has held such a license within ten years
prior to the date of the application;
(f) Whether any firm or corporation of which
an officer, director or partner of the applicant, or the sole proprietor or an
owner if the applicant is other than a corporation or a partnership, is or has
been an officer, director, partner, sole proprietor or owner has ever filed for
bankruptcy or been adjudged a bankrupt; and
(g) Any other information requested by the
director in the license application form.
(2) The applicant shall include with the
application the following:
(a) The course of
study to be used by the applicant for the training program for employees and
designated agents concerning the kinds of coverage offered under the
license;
(b) A certification by the
applicant that all employees and designated agents to be involved in the sale
or offer of coverage to members of the public have completed or will complete
the training program prior to conducting the sales or offers; and
(c) A certification by the applicant that all
employees and designated agents to be involved in the sale or offer of coverage
to members of the public will receive continuing education on a regular basis
concerning the topics covered in the training program.
(d) A copy of the insurance sales material to
be made available to renters of vehicles through the licensee.
(3) Each application shall be
accompanied by a $200 fee.
(4)
During the review of an application, the director may require any other
information that the director determines will assist consideration of the
application.
Statutory/Other Authority: ORS
731.244,
731.804, ORS
744.852 & ORS
744.858
