The Oregon Life Settlement Provider license

ORS 744.321(1) requires the license before anybody acts as a life settlement provider, and 744.321(2) lets the licensee call the business viatical settlement instead, both for the license and for the contract, which is why Oregon needs only one file where several states here carry a viatical set and a life settlement set. 744.321(3) reaches the related provider trust without licensing it: the trust must have a written agreement with a licensed provider under which the provider answers for compliance and the trust opens its records to the director as though the provider kept them. 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. The director may also require the applicant to file the life settlement contract it intends to use, under 744.326(2), which is a condition on the product rather than on the person and applies to no other Oregon license.

Read at oregonlegislature.gov on 2026-08-19