OAR 836-014-0310
Reporting Requirements

(1)

On or before March 1 of each year, a life settlement provider shall file an annual statement with the director. The information provided in the statement shall be limited to those transactions for which the owner is a resident of Oregon. The statement shall include at a minimum:

(a)

Total number and aggregate face amount and life settlement proceeds of policies settled during the immediately preceding calendar year;

(b)

A breakdown of the information by policy issue year;

(c)

The names of the insurance companies whose policies have been settled; and

(d)

The life settlement brokers who have settled the policies.

(2)

For each policy for which a life settlement contract has been entered into during the preceding calendar year or that was entered into prior to the preceding calendar year and for which deaths had not yet been reported as of the beginning of the preceding year:

(a)

The date the life settlement contract was entered into;

(b)

The life expectancy of the insured at the time of the contract;

(c)

The face amount of the policy.

(d)

The amount paid by the life settlement provider for purposes of making a life settlement on the policy and the percentage that amount represents of the face amount;

(e)

If the insured has died:

(A)

The date of death; and

(B)

The total insurance premiums paid by the life settlement provider to maintain the policy in force; and

(f)

The amount of commission paid by the life settlement provider to the life settlement broker.

(3)

The annual statement required under section (1) of this rule also shall include a breakdown, by disease category, of applications, received, accepted and rejected during the preceding calendar year.

Source: Rule 836-014-0310 — Reporting Requirements, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-014-0310.

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 836-014-0310’s source at or​.us