OAR 836-050-0150: Advance Payments

(1) The notice required by ORS 12.155 shall contain the following: (a) The time and location of the occurrence in regard to which the advance payment is made. (b) A statement to the effect that the amount of any advance payment will be credited against any judgment entered in favor of the payee. (c) The following words: "The period of limitation for commencement of an action for damages as set by Chapter 12 of Oregon Revised Statutes will expire on _____", or such other similar words as the Director of the Department of Consumer and Business Services approves. (d) The signature of a person authorized to act for the insurer. (e) The date on which notice is transmitted to the party entitled to the advance payment. (2) The type size used in the portion of the notice described in section (1)(c) of this rule shall not be smaller than the type used for other typed or printed material required by this rule and shall not be arranged or displayed in such a way as to obscure the content of the notice.