Section 737.355 - Licensing rating organizations generally; licensing workers' compensation rating organizations; rules; revocation and suspension; fees(1) If the Director of the Department of Consumer and Business Services finds that the applicant represents a credible statistical base, is competent, trustworthy and otherwise qualified to act as a rating organization and that its constitution, articles of agreement or association or certificate of incorporation, and its bylaws, rules and regulations governing the conduct of its business conform to the requirements of law, the director shall issue a license specifying the classes of insurance, or subdivision or class of risk or a part or combination thereof for which the applicant is authorized to act as a rating organization. Each application shall be granted or denied in whole or in part by the director within 60 days of the date of its filing with the director.(2) The director need not issue a license to each workers' compensation rating organization that meets the qualifications and requirements of subsection (1) of this section. Instead, the director may issue licenses to one or more qualifying workers' compensation rating organizations pursuant to a selection process established by rule. At the end of the period for which one or more licenses are issued, the director may do the following pursuant to the selection process established by rule under this subsection:(a) Renew a license or issue a license to another workers' compensation rating organization; and(b) Renew or issue licenses to more than one workers' compensation rating organization.(3) A license issued pursuant to this section shall remain in effect for three years unless suspended or revoked by the director. The license fee shall be as established by the director. A license issued pursuant to this section may be suspended or revoked by the director, after a hearing upon notice, in the event the rating organization ceases to meet the requirements of this section. If a license is issued to only one workers' compensation rating organization and the license is suspended or revoked, the director may issue a license to another workers' compensation rating organization for the remainder of the period for which the suspended or revoked license was issued.(4) Each rating organization shall notify the director promptly of every change regarding matters listed in ORS 737.350(1), (2) and (3).(5) As a condition of receiving and holding its license, a workers' compensation rating organization must exchange data with other licensed workers' compensation rating organizations pursuant to rules adopted by the director that may include establishing fees for the exchange of data. Amended by 1967 c.359 §319; 1971 c.385 §5; 1989 c.413 §9; 1999 c.235 §1