Oregon Revised Statutes Chapter 744 § 744.052 — Definitions for ORS 744.052 to 744.089

Definitions for ORS 744.052 to 744.089. As used in ORS 744.052 to 744.089: (1) “Business entity” has the meaning given that term in ORS 731.116. (2) “Home state” means any state, district or territory of the United States, in which an insurance producer maintains the insurance producer’s principal place of residence or principal place of business and is licensed to act as an insurance producer. (3) “Limited class credit insurance” includes but is not limited to credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, and guaranteed automobile protection insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing the credit obligation that the Director of the Department of Consumer and Business Services determines should be designated a form of limited class credit insurance. (4) “Limited class credit insurance producer” means a person required to be licensed to sell, solicit or negotiate one or more forms of limited class credit insurance coverage to individuals through a master, corporate, group or individual policy. (5) “Limited class insurance” includes but is not limited to credit, mortgage, automobile dealer guaranteed automobile protection and any other form of insurance designated by the director as a form of limited class insurance. (6) “Limited class insurance producer” means a person required to be licensed to sell, solicit or negotiate one or more forms of limited class insurance coverage to individuals through a master, corporate, group or individual policy. (7) “Negotiate,” “sell” and “solicit” have the meanings given those terms in ORS 731.104. (8) “Terminate” means to cancel the relationship between an insurance producer and the insurer or to revoke an insurance producer’s authority to sell, solicit or negotiate insurance. (9) “Uniform Application” means the current version of the Uniform Application for resident and nonresident insurance producer licensing, produced by the National Association of Insurance Commissioners. (10) “Uniform Business Entity Application” means the current version of the Uniform Business Entity Application for resident and nonresident business entities, produced by the National Association of Insurance Commissioners. [2001 c.191 §2; 2003 c.364 §2]