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. (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. (2) Prohibits securities lending transactions pursuant to the agreement with the agent or its affiliates.

Statutory/Other Authority

ORS 731.244 & 733.510

Statutes/Other Implemented

ORS 733.510

History

ID 4-2000, f. & cert. ef. 5-11-00