OAR 836-014-0226
Life Settlement Investment Agent Licensing Requirements

(1)

In order for an applicant to qualify to transact business as a life settlement investment agent, the person must pay the appropriate application fee under OAR 836-014-0210 (License Fees) and either:

(a)

Demonstrate that the person has completed to the director’s satisfaction an examination of the Financial Industry Regulatory Authority (FINRA) that is Series 6 or Series 7; or

(b)

Operates under the appropriate license from the equivalent chief insurance official of the state of residence of the life settlement purchaser whom the agent is negotiating with on behalf of a life settlement provider. If there is more than one purchaser of a single policy and the purchasers are residents of different states, the life settlement investment agent must be licensed by the state in which the purchaser having the largest percentage ownership resides, or if the purchasers hold equal ownership, the state of residence of one purchaser agreed upon in writing by all purchasers.

(2)

A life settlement investment agent license does not eliminate the need to obtain a securities license from the Department if a life settlement investment agent conducts life settlement transactions in a manner that would be considered an offer, sale, transfer or delivery of a security under the Oregon Securities Law.

Source: Rule 836-014-0226 — Life Settlement Investment Agent Licensing Requirements, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-014-0226.

836‑014‑0001
Purpose, Authority and Effective Date 836‑014‑0005
Applicability and Scope 836‑014‑0010
Required Capitalization 836‑014‑0015
Annual Financial Statement 836‑014‑0020
Deposits 836‑014‑0025
Bond 836‑014‑0030
Sales Representatives 836‑014‑0035
Registration of Legal Expense Organization 836‑014‑0040
Amendments to Registration 836‑014‑0042
Renewal of Legal Expense Organization Registration 836‑014‑0045
Unfair Trade Practice 836‑014‑0100
Actuarial Certification 836‑014‑0200
Statutory Authority and Implementation 836‑014‑0205
Definitions 836‑014‑0210
License Fees 836‑014‑0220
Life Settlement Provider License Requirements 836‑014‑0226
Life Settlement Investment Agent Licensing Requirements 836‑014‑0230
Renewal Requirements 836‑014‑0240
Filing Requirements, Life Settlement Contracts and Disclosure Statement Forms 836‑014‑0250
Contents of Life Settlement Contracts 836‑014‑0260
Rights and Duties of Parties to Life Settlement Contract 836‑014‑0263
Request to Insurer for Verification of Coverage 836‑014‑0265
Response by Insurer 836‑014‑0270
Standards for Evaluation of Reasonable Payments 836‑014‑0280
Disclosure Required 836‑014‑0285
Disclosures to Insurer 836‑014‑0290
Contacts by Life Settlement Provider or Broker 836‑014‑0300
Advertising Standards 836‑014‑0310
Reporting Requirements 836‑014‑0320
Requirements for Brokers 836‑014‑0325
Disclosures Required by Life Insurers 836‑014‑0330
Unfair Trade Practices
Last Updated

Jun. 8, 2021

Rule 836-014-0226’s source at or​.us