OAR 441-175-0185
Errors and Omissions Coverage under ORS 59.175

(1) Investment advisors and broker-dealers subject to ORS 59.175 (Procedures for notice filing and licensing) must submit proof of insurance to the division as a condition of licensure and annual renewal.
(2) Proof of insurance may be demonstrated by submitting to the division an attestation of compliance on a form approved by the Director and a policy declaration page or a certificate of liability coverage specifying errors and omissions coverage.
(a) An attestation must include:
(A) The name of the insurer;
(B) The policy number;
(C) Name of the insured licensee; and
(D) Dates of the policy period.
(b) The attestation of coverage shall include a statement that the policy has been in continuous effect and shall be signed by a person authorized by the licensee to make such an attestation.
(c) For the purposes of compliance with ORS 59.175 (Procedures for notice filing and licensing), a policy may not contain exclusions for investment management services performed in Oregon or for persons performing investment management services in Oregon.

(d)

The requirements for the insurance may be fulfilled by the policies of one or more insurance carriers which policies together meet such requirements.
(3) For the purposes of this rule, policies written by admitted or authorized insurers, registered surplus lines insurers as defined in ORS 735.405 (Definitions for ORS 735.400 to 735.495) and registered risk retention and purchasing groups as defined in ORS 735.305 (Definitions for ORS 735.300 to 735.365), will satisfy the errors and omissions requirements of ORS 59.175 (Procedures for notice filing and licensing).

Source: Rule 441-175-0185 — Errors and Omissions Coverage under ORS 59.175, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-175-0185.

441‑175‑0002
Fees for Licensing or Notice Filing of Firms and Individuals 441‑175‑0010
Definitions 441‑175‑0015
When Licensing Application Deemed Abandoned 441‑175‑0020
Exclusion from Definition of “Broker-Dealer” 441‑175‑0030
Exclusion from Definition of “Investment Adviser” 441‑175‑0040
Exclusion from Definition of “Salesperson” 441‑175‑0041
Exclusion from Definition of “Investment Adviser Representative” 441‑175‑0046
Federal Covered Investment Advisor Representative 441‑175‑0050
Rules of Fair Practice for Real Estate Licensees 441‑175‑0055
Rules of Fair Practice for Mortgage Banker and Mortgage Broker Licensees 441‑175‑0060
Licensing Rule Implementing, 1997 Oregon Laws Chapter 772 and the National Markets Improvement Act of 1996 441‑175‑0070
General Licensing Rules for Broker-Dealers, Investment Advisers and Salespersons, Succession and Acquisition 441‑175‑0080
Applications for Licensing of Broker-Dealers 441‑175‑0085
Limited Licensing of Canadian Broker-Dealers and Salespersons 441‑175‑0100
Applications for Licensing of Investment Advisers 441‑175‑0105
Material Changes, Amendments and Notice of Civil and Criminal Actions 441‑175‑0110
Surety Bond 441‑175‑0120
Licensing of Salespersons or Representatives to Non-FINRA Broker-Dealers, State or Federal Covered Investment Advisers, Issuers and Owners of Securities 441‑175‑0130
Licensing of Salespersons to FINRA Broker-Dealers 441‑175‑0140
Disqualification from Automatic Licensing 441‑175‑0150
Termination or Cancellation of Salesperson or Investment Adviser Representative License 441‑175‑0160
Renewal of FINRA Broker-Dealer and Salesperson Licenses 441‑175‑0165
Renewal of the Licenses of Non-FINRA Broker-Dealers or State Investment Advisers, and Their Salespersons or Investment Adviser Representatives 441‑175‑0171
Use of Trade Name or Assumed Business Name 441‑175‑0175
Internet Communications 441‑175‑0185
Errors and Omissions Coverage under ORS 59.175
Last Updated

Jun. 8, 2021

Rule 441-175-0185’s source at or​.us