The Oregon Life Settlement Investment Agent license

ORS 744.324 is one sentence and it licenses the tier under the broker and the provider: the person who deals with the investors buying into settled policies rather than with the policy owner selling one. Delaware, Iowa, Virginia, New York, Texas, Rhode Island, Vermont, New Hampshire and Maine license a provider and a broker between them and stop; Alaska licenses a viatical settlement representative underneath, and Oregon licenses this. What is unusual is that the section makes an out-of-state license an alternative rather than a reciprocity route: a person needs no Oregon license at all if they hold "the appropriate license from the equivalent chief insurance regulatory official of the state of residence of the life settlement purchaser whom the agent is negotiating with". The obligation follows the buyer's residence, not the agent's, and the section then settles the multi-purchaser case in its own second sentence. ORS 744.328(1) is one list of findings for all three life settlement licenses and it is where the substance of every one of them sits: no conduct that would authorize refusal under 744.338; competent, trustworthy and intending to act in good faith in the capacity applied for; evidence of financial responsibility, which is either a surety bond in the amount and manner the director prescribes or a deposit of cash, certificates of deposit or securities, or any combination; a good business reputation with experience, training or education qualifying the applicant for the business; an antifraud plan under 744.374(10) for a provider or a broker; and, for a provider alone, a detailed plan of operation. 744.328(1)(c) carries a portability clause almost nothing else here has: the director must accept, as evidence of financial responsibility, proof that instruments meeting the same requirements have been filed with at least one other state where the applicant holds one of these three licenses. 744.326 is the application, and 744.326(3) adds a condition on the applicant's own form: a corporate applicant must be incorporated in Oregon or be a foreign corporation authorized to do business here. 744.328(3) makes a nonresident appoint the director as attorney for service of process, effective on the day the license issues and continuing "so long as any liability remains outstanding in this state". There is no examination and no course anywhere in ORS 744.318 to 744.384.

Read at oregonlegislature.gov on 2026-08-19