DCBS Media ReleaseJanuary 13, 2000 State fines Thomason Toyota $30,000 for insurance violationsSALEM – The Department of Consumer and Business Services (DCBS) has fined Thomason Toyota of Gladstone $30,000 for violations of the Oregon Insurance Code. Following an investigation by the Insurance Division of DCBS, Thomason Toyota admitted authorizing eight employees to sell credit life and health insurance in 96 transactions while they were not licensed as insurance agents in Oregon. Thomason Toyota also admitted failing to notify the Insurance Division within 30 days that it had authorized 16 licensed employees to sell insurance on its behalf, and that it had terminated the authority of 11 licensed employees to sell insurance. The violations occurred in 1997. Thomason Toyota has been licensed as a resident firm or corporate insurance agent since March 31, 1988. |
