Credit union auto buying service Autoland Inc. said it is back in good standing after the Oregon Department of Consumer and Business Services issued an enforcement action against the firm for operating without a license in the state for more than six years.
According to the June 7, 2010, order, Autoland was not licensed in Oregon as a business entity insurance producer from Nov. 1, 2004 to March 11, 2010. The firm also sold 476 mechanical breakdown insurance policies on behalf of three insurers to persons living in the state from Nov. 3, 2004 to Nov. 17, 2009.
Oregon's insurance division assessed a $50,000 civil penalty against Autoland. The payment was due Nov. 24, 2010. The auto buying service firm chose to conclude the proceeding without a hearing and to waive all rights relative to an administrative hearing and judicial review, according to the order.
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