OAR 836-071-0560: Limited License Application, Portable Electronics Insurance Coverage; Required Information

(1) An applicant for a portable electronics limited license shall submit electronically to the director of the Department of Consumer and Business Services a portable electronics limited license application on the form entitled “Portable Electronics Insurance Vendor.” The form is set forth on the Division of Financial Regulation website of the Department of Consumer and Business Services at dfr.oregon.gov. (2) In addition to the requirements in ORS 646A.577(2)(b), the applicant shall include all of the following information in the limited license application: (a) The applicant's corporate, firm or other business entity name, the business address, e-mail address and telephone number of the principal place of business and the business address and telephone number of each additional location at which the applicant will transact business under the limited license. (b) All assumed business names and other names under which the applicant will engage in business under the limited license. (c) Whether any of the following has occurred with respect to the applicant or the employee, agent or authorized representative of the applicant that the applicant is designating as being responsible for the applicant’s compliance with ORS 646A.575 to 646A.592: (A) Conviction of or indictment for a crime, including a felony involving dishonesty or a breach of trust to which 18 U.S.C. sec. 1033 applies; (B) A judgment entered against the applicant or person designated by the applicant as being responsible for the applicant’s compliance with ORS 646A.575 to 646A.592, for fraud; (C) A claim of indebtedness by an insurer or agent, and the details of any such indebtedness; or (D) Refusal, revocation or suspension of any license to act in any occupational or professional capacity in this or any other state. (d) All states and provinces of Canada in which the applicant currently holds a license to engage in the transaction of insurance, or has held such a license within ten years prior to the date of the application. (e) Whether the applicant has ever filed for bankruptcy or been adjudged a bankrupt. (f) The syllabus for the training program that is developed by the insurer or supervising entity that issued the portable electronics insurance policy to the limited licensee. (g) A certification by the supervising entity or the applicant that all employees, agents and authorized representatives to be involved in the issuance, sale or offering for sale of portable electronics insurance coverage to customers have completed or will complete the training program under ORS 646A.585(1)(b), prior to issuing, selling or offering for sale portable electronics insurance coverage. (h) A certification by the supervising entity or the applicant that a copy of all written disclosure materials, as required under ORS 646A.582, that are currently being made available to prospective customers of portable electronics or have been made available to prospective customers in the past, shall be maintained by the supervising entity or the applicant. This information shall be maintained by the supervising entity or the applicant for a period of seven years and must be provided to the director, upon request, within 21 calendar days. (i) Any other information requested by the director in the license application form. (3) Each application shall be accompanied by a $200 fee. (4) During the review of an application, the director may require any other information that the director determines will assist consideration of the application.