Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 74 - INSURANCE DIVISION TRUST ACCOUNTS
Section 836-074-0035 - Other Permissible Funds
Universal Citation: OR Admin Rules 836-074-0035
Current through Register Vol. 63, No. 9, September 1, 2024
(1) An insurance producer may not deposit in a premium fund trust account any funds other than premium funds, except as follows:
(a) Funds reasonably sufficient to
pay bank charges;
(b) Funds that
the insurance producer determines to be prudent for advancing premiums or
establishing reserves for the paying of return premiums;
(c) Funds for contingencies that may arise in
the course of receiving and transmitting premiums.
(2) An insurance producer may deposit in a premium fund trust account any premium funds produced in another state. However, premium funds produced in another state must be deposited and paid in the same manner as premium funds under OAR 836-074-0025.
Stat. Auth.: ORS 731
Stats. Implemented: ORS 744.083
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