Licensing Requirements: Surplus lines brokers are required to be licensed under Oregon law. Or. Rev. Stat. §§ 735.450, 744.063. To obtain a resident surplus lines license, an applicant must be licensed to
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? Yes. All premium funds received by
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Oregon law allows insurance producers and insurance consultants to
Consultants must provide clients with written disclosure statements containing information such as a description of the work to be performed by the insurance consultant, a fee schedule and any other
What entities are covered? “A person that owns or licenses personal information that the person uses in the course of the person’s business, vocation, occupation or volunteer activities.” § 604(1).