Nonresident insurance consultant license
(1) A person who resides in another state or province of Canada and is licensed in that state or province as an insurance consultant or is registered under a regulatory program of the other state or province similar to the regulatory program for insurance consultants under this chapter, as determined by the Director of the Department of Consumer and Business Services, may be licensed to act as a nonresident insurance consultant in this state as provided in this section if the state or province in which the person resides gives the same privilege to a resident insurance consultant of this state.
(2) An applicant for a license to act as a nonresident insurance consultant shall apply for the license as provided in ORS 744.001 (License application) and must meet the following requirements:
(a) The applicant must provide satisfactory evidence to the director that the insurance required under ORS 744.635 (Errors and omissions insurance) has been procured and is in effect.
(b) If the applicant is an individual, the applicant must have had at least five years’ experience in the insurance business relating to the class or classes of insurance for which the applicant is applying to be an insurance consultant or have equivalent educational qualifications as prescribed by the director.
(c) If the applicant is an individual, the applicant must take and pass a written examination given by the director, unless the state or province in which the applicant resides licenses or registers insurance consultants of this state without examination. The examination requirement does not apply to an applicant who is licensed as a nonresident insurance producer to transact the class or classes of insurance for which the applicant is applying to be an insurance consultant.
(d) The applicant must satisfy any other requirements established by the director by rule. [1989 c.701 §58; 1991 c.810 §18; 2003 c.364 §125]
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