Current through Register Vol. 63, No. 9, September 1, 2024
(1) An
applicant for a portable electronics limited license shall submit
electronically to the director of the Department of Consumer and Business
Services a portable electronics limited license application on the form
entitled "Portable Electronics Insurance Vendor." The form is set forth on the
Division of Financial Regulation website of the Department of Consumer and
Business Services at dfr.oregon.gov.
(2) In addition to the requirements in ORS
646A.577(2)(b),
the applicant shall include all of the following information in the limited
license application:
(a) The applicant's
corporate, firm or other business entity name, the business address, e-mail
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 limited license.
(b) All assumed business names and other
names under which the applicant will engage in business under the limited
license.
(c) Whether any of the
following has occurred with respect to the applicant or the employee, agent or
authorized representative of the applicant that the applicant is designating as
being responsible for the applicant's compliance with ORS
646A.575 to
646A.592:
(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 applicant
or person designated by the applicant as being responsible for the applicant's
compliance with ORS 646A.575 to
646A.592, 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.
(d) All
states and provinces of Canada in which the applicant 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.
(e) Whether the applicant has ever filed for
bankruptcy or been adjudged a bankrupt.
(f) The syllabus for the training program
that is developed by the insurer or supervising entity that issued the portable
electronics insurance policy to the limited licensee.
(g) A certification by the supervising entity
or the applicant that all employees, agents and authorized representatives to
be involved in the issuance, sale or offering for sale of portable electronics
insurance coverage to customers have completed or will complete the training
program under ORS 646A.585(1)(b),
prior to issuing, selling or offering for sale portable electronics insurance
coverage.
(h) A certification by
the supervising entity or the applicant that a copy of all written disclosure
materials, as required under ORS
646A.582, that are currently
being made available to prospective customers of portable electronics or have
been made available to prospective customers in the past, shall be maintained
by the supervising entity or the applicant. This information shall be
maintained by the supervising entity or the applicant for a period of seven
years and must be provided to the director, upon request, within 21 calendar
days.
(i) Any other information
requested by the director in the license application form.
(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
646A.575 -
646A.590 & ORS
705.135
