Or. Admin. Code § 836-074-0035

Current through Register Vol. 63, No. 10, October 1, 2024

Section 836-074-0035 - Other Permissible Funds

(1) An insurance producer may not deposit in a premium fund trust account any funds other than premium funds, except as follows:

(a) Funds reasonably sufficient to pay bank charges;

(b) Funds that the insurance producer determines to be prudent for advancing premiums or establishing reserves for the paying of return premiums;

(c) Funds for contingencies that may arise in the course of receiving and transmitting premiums.

(2) An insurance producer may deposit in a premium fund trust account any premium funds produced in another state. However, premium funds produced in another state must be deposited and paid in the same manner as premium funds under OAR 836-074-0025.

Or. Admin. Code § 836-074-0035

ID 9-1987, f. 12-22-87, cert. ef. 1-1-88; ID 8-2005, f. 5-18-05, cert. ef. 8-1-05

Stat. Auth.: ORS 731

Stats. Implemented: ORS 744.083