A purchasing group shall employ an insurance producer to procure insurance for its members in Oregon. Such an insurance producer:

1. (1) Must hold a current insurance producer’s license issued by the Division of Financial Regulation, in order to transact insurance in Oregon; or
2. (2) Must hold a current surplus line licensee's license issued under the Oregon Surplus Lines Law, in order to place business with a surplus lines insurer.

Statutory/Other Authority

ORS 731, 735 & 746

Statutes/Other Implemented

ORS 735.350

History

ID 15-2024, minor correction filed 08/06/2024, effective 08/06/2024
ID 8-2005, f. 5-18-05, cert. ef. 8-1-05
ID 19-1988, f. & cert. ef. 12-6-88