Oregon Code § 744.641·Enacted ·Last updated March 01, 2026
Statute Text
Notices required; rules.
(1)(a) A licensee shall notify the Director of the Department of Consumer and
Business Services not later than 30 days after:
(A) The licensee
opens or closes a place of business in this state or changes the location or
contact information for the licensees residence or any of the licensees
places of business in this state;
(B) The licensee
begins or stops using or changes an assumed business name under which the
licensee engages in business as an insurance consultant;
(C) A government
agency or regulator in this or another state has taken a final action against
the licensee;
(D) The licensee
receives notice of an initiation or prosecution of criminal charges against the
licensee in any United States jurisdiction for any felony or a misdemeanor that
involves fraud, dishonesty or a breach of trust; or
(E) The licensees
authority to act for a business entity begins or terminates.
(b) In the notice
a licensee submits under paragraph (a) of this subsection, the licensee shall:
(A) Update any
information that has changed from the time the licensee submitted an
application for a license or submitted a previous notice under this section;
and
(B) Include any
relevant documents that describe, support, are evidence of or otherwise
illustrate the contents of the notice, including but not limited to copies of
complaints, informations or indictments, motions, orders, consents and consent
decrees, judgments and any other relevant records or legal documents.
(2) Not later
than December 31 of each year, a licensee that is a business entity shall
notify the director of any change during the previous calendar year in the
licensees directors, members or officers, or other persons that own, directly
or indirectly, more than 10 percent of any class of equity security of the
licensee.
(3) The director
by rule may establish a different period within which a licensee must notify
the director under subsection (1) or (2) of this section. [2019 c.151 §16]