Oregon Code § 744.073·Enacted ·Last updated March 01, 2026
Statute Text
Temporary insurance producer license.
(1) The Director of the Department of Consumer and Business Services may issue
a temporary insurance producer license for a period not to exceed 180 days
without requiring a written examination if the director determines that the
temporary license is necessary for the servicing of an insurance business in
the following cases:
(a) To the
surviving spouse or court-appointed personal representative of a licensed
insurance producer who dies or becomes mentally or physically disabled to allow
adequate time for the sale of the insurance business owned by the insurance
producer, for the recovery or return of the insurance producer to the business,
or to provide for the training and licensing of new personnel to operate the
insurance producers business;
(b) To a member
or employee of a business entity licensed as an insurance producer, upon the
death or disability of the individual designated in the business entity
application or the license;
(c) To the
designee of a licensed insurance producer entering active service in the Armed
Forces of the United States; or
(d) In any other
circumstance in which the director determines that the public interest will
best be served by the issuance of the license.
(2) The director
may by order limit the authority of any temporary licensee in any way that the
director determines to be necessary to protect insureds and the public. The
director may require the temporary licensee to have a suitable sponsor who is a
licensed insurance producer or insurer and who assumes responsibility for all
acts of the temporary licensee and may impose other similar requirements
designed to protect insureds and the public. The director may revoke a
temporary license if the interest of insureds or the public is endangered. A
temporary license may not continue after the owner or the personal
representative disposes of the business. [2001 c.191 §13; 2003 c.364 §14]