(1) Funds of a domestic insurer shall be invested, reinvested and used in the manner and subject to the conditions, restrictions and limitations set forth in ORS 733.510 to 733.780.
(2) Investments of a foreign or alien insurer which would be authorized for a like domestic insurer shall be allowed as assets in any determination of its financial condition. Other investments of a foreign or alien insurer which are authorized by the laws of its domicile may be so allowed at the discretion of the Director of the Department of Consumer and Business Services.
(3) The director may adopt rules establishing standards and limitations for investments by insurers that are not otherwise specifically permitted or prohibited by ORS 733.510 to 733.780.
(4) The investment program of an insurer must take into account the safety of the principal of the insurer, investment yield and return, stability in the value of the investment, liquidity necessary for expected business needs of the insurer and investment diversification according to standards established by rule. The director may direct an insurer to take action to conform to the requirements of this subsection. [Formerly 738.235; 1989 c.425 §2; 1993 c.447 §21]
Section: Previous 733.310 733.312 733.314 733.316 733.318 733.320 733.322 733.510 733.520 733.530 733.540 733.550 733.560 733.570 733.575 NextLast modified: August 7, 2008