Oregon Life Settlement News
Oregon Proposes Fingerprinting Rule
This isn’t direct news regarding Oregon Life Settlement Regulation or Laws but is a step in the right direction regarding the the screening of applicants and renewing applicants. We stand behind their decision and feel that other states should adopt similar policies.
Oregon’s Department of Consumer and Business Services has proposed adopting rules that would require fingerprints of a person applying for issuance or renewal of a license as an insurance producer, insurance consultant, adjuster, life settlement provider or life settlement broker, in connection with a request for a state or nationwide criminal records check.
According to the DCBS, the rules are needed to enable the Director to request complete criminal checks at the state or federal level and facilitate the Department’s responsibility to ensure that license applicants under the Insurance Code meet all licensing requirements and to determine, with available information, whether applicants’ past behaviors might indicate potential hazards to the insurance-buying public. Failure to adopt rulemaking on this topic will result in the Department’s failure to carry out the authority granted by section 1, chapter 619, Oregon Laws 2007 and the consequent failure to properly inquire into possible criminal histories of applicants for renewal or issuance, it stated.
The last day to comment on the proposed rule is May 28. For information on the proposed rule and to submit comments, visit:
Oregon Fingerprinting Notice
Source: DCBS
