ORS 735.430
Surplus Line Association of Oregon
- fees
(1)
The Surplus Line Association of Oregon is the advisory organization of surplus lines licensees to:(a)
Facilitate and encourage compliance by resident and nonresident surplus lines licensees with the laws of this state and the rules of the Director of the Department of Consumer and Business Services relative to surplus lines insurance;(b)
Provide means for the examination, which must remain confidential as provided in ORS 705.137 (Information that is confidential or not subject to disclosure), of all surplus lines coverage written by resident and nonresident surplus lines licensees to determine whether the coverages comply with the Oregon Surplus Lines Law;(c)
Communicate with organizations of admitted insurers with respect to the proper use of the surplus lines market;(d)
Receive and disseminate to resident and nonresident surplus lines licensees information relative to surplus lines coverages; and(e)
At the request of the director, receive and collect on behalf of the state and remit to the state premium receipts taxes for surplus lines and wet marine and transportation insurance under ORS 731.830 (Premium tax on gross amount of premiums insurer receives for wet marine and transportation insurance), 735.417 (Insured required to report and pay taxes on independently procured insurance covering Oregon home state risks) or 735.470 (Premium tax).(2)
The Surplus Line Association of Oregon shall file with the director:(a)
A copy of the association’s constitution, articles of agreement or association or certificate of incorporation;(b)
A copy of the association’s bylaws and rules governing the association’s activities;(c)
A current list of members;(d)
The name and address of a resident of this state upon whom notices or orders of the director or processes issued at the direction of the director may be served;(e)
An agreement that the director may examine the Surplus Line Association of Oregon in accordance with the provisions of this section; and(f)
A schedule of fees and charges.(3)
The director may make or cause to be made an examination of the Surplus Line Association of Oregon. The reasonable cost of any examination must be paid by the association at the time the director presents a detailed account to the association of each cost. The officers, managers, agents and employees of the association may be examined at any time, under oath, and shall exhibit all books, records, accounts, documents or agreements governing the association’s method of operation. The director shall furnish two copies of the examination report to the association and shall notify the association that the association may, within 20 days after receiving the report, request a hearing on the report or on any facts or recommendations in the report. If the director finds that the association or any member of the association has violated ORS 735.400 (Purposes of ORS 735.400 to 735.495) to 735.495 (Short title), the director may issue an order requiring the discontinuance of the violation.(4)
Intentionally left blank —Ed.(a)
The Surplus Line Association of Oregon may charge resident and nonresident surplus lines licensees and insurance producers a fee for reviewing surplus lines and wet marine and transportation insurance policies and for collecting, on behalf of the state, taxes imposed under ORS 731.830 (Premium tax on gross amount of premiums insurer receives for wet marine and transportation insurance) and 735.470 (Premium tax).(b)
The association may charge insureds a fee for collecting, on behalf of the state, reports required and taxes imposed under ORS 735.417 (Insured required to report and pay taxes on independently procured insurance covering Oregon home state risks).(c)
The association shall adopt bylaws implementing paragraphs (a) and (b) of this subsection. [1987 c.774 §123; 2001 c.377 §14; 2005 c.185 §13; 2007 c.71 §235; 2011 c.660 §12; 2019 c.493 §3]
Source:
Section 735.430 — Surplus Line Association of Oregon; fees, https://www.oregonlegislature.gov/bills_laws/ors/ors735.html.
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