Publication Date
2023-10-19
effective date
2023-09-29
jurisdiction
Oregon Bulletin Regarding Causes for License Revocation and Surrender
Effective September 29, 2023, Oregon has issued a bulletin indicating causes for License revocation and surrender for Residents and Non Residents. Failure to timely provide the Division with complete, accurate, and truthful information in all filings may result in license refusal, suspension, or revocation or civil penalties.  Common notice and filing issues/deficiencies include, but are not limited to:      a.   failure to provide a direct phone number that allows           staff to contact the individual;      b.   using a generic or shared email address instead of the           individual's direct email address;      c.   failure to notify the Division within 30 days of changes           in producer and applicant address or contact information;      d.   failure to notify the Division within 30 days if an           individual receives a notification of a Regulatory           Information Retrieval System (RIRS) violation or notice           of a criminal case;      e.   failure to provide a prompt and truthful response to an           inquiry from the Director of the Department of Consumer           and Business Services in the time and manner specified;      f.   incomplete, misleading, or materially untrue application           information; or      g.   applicants submitting more than 1 application with           different responses, especially responses that           misrepresent misdemeanor/felony convictions declared on a           prior filing.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.
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This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
Licensing