Unless an insurance producer and the insurer agree to the contrary, interest earned in a premium funds trust account may be retained by the insurance producer and:

1. (1) Used to offset bank charges; or
2. (2) Removed to the operating account of the insurance producer.

Statutory/Other Authority

ORS 731

Statutes/Other Implemented

ORS 744.083

History

ID 8-2005, f. 5-18-05, cert. ef. 8-1-05
ID 9-1987, f. 12-22-87, cert. ef. 1-1-88