Oregon Statutes - Chapter 731 - Administration and General Provisions

• 731.004   Short title.
  ORS chapters 731, 732, 733, 734, 735, 737, 742, 743, 743A, 744, 746, 748 and 750 may be cited as the Insurance Code. [1967 c.359...
• 731.008   Purpose of Insurance Code.
  The Legislative Assembly declares that the Insurance Code is for the protection of the insurance-buying public. [Formerly 736.003]
• 731.010   [Repealed by 1965 c.241 §3]
• 731.012   Effect of federal law.
  The Insurance Code shall regulate the business of insurance and every person engaged therein in accordance with the intent of Congress as expressed in the...
• 731.016   Construction of Insurance Code.
  The Insurance Code shall be liberally construed and shall be administered and enforced by the Director of the Department of Consumer and Business Services to...
• 731.020   [Repealed by 1965 c.241 §3]
• 731.022   Compliance with Insurance Code required.
  No person shall transact insurance in this state or relative to a domestic risk without complying with the applicable provisions of the Insurance Code. [1967...
• 731.026   Application of Insurance Code to particular insurers.
  The Insurance Code applies to: (1) A fraternal benefit society complying with ORS chapter 748, only as provided in such chapter. (2) A health care...
• 731.028   Applicability of certain Insurance Code provisions to State Accident Insurance Fund Corporation.
  (1) The State Accident Insurance Fund Corporation is subject as a domestic insurer to ORS 731.248, 731.252, 731.256, 731.258, 731.260, 731.296 to 731.316, 731.488, 731.574,...
• 731.030   [Repealed by 1965 c.241 §3]
• 731.032   [1967 c.359 §7; 1971 c.69 §1; 1971 c.538 §1; 1979 c.848 §1; 1993 c.265 §3; repealed by 2003 c.802 §173]
• 731.036   Persons completely exempt from application of Insurance Code.
  The Insurance Code does not apply to any of the following to the extent of the subject matter of the exemption: (1) A bail bondsman,...
• 731.038   Application of Insurance Code to charitable organizations that issue charitable gift annuities.
  (1) As used in this section: (a) “Charitable gift annuity” has the meaning given that term in section 501(m)(5) of the Internal Revenue Code, as...
• 731.039   Requirements for certain educational institutions or nonprofit corporations issuing charitable gift annuities.
  ORS 731.038 (2)(a) and (b) does not apply to an educational institution or nonprofit corporation that holds a certificate of authority issued under ORS 731.704...
• 731.040   [Repealed by 1965 c.241 §3]
• 731.042   Certificate of exemption; application of certain Insurance Code provisions to exempt insurers.
  (1) An exempt insurer who holds a certificate of exemption issued by the Director of the Department of Consumer and Business Services before January 1,...
• 731.046   Exemption of policies from Securities Law.
  Any policy, other than a variable annuity policy, whose form has been filed with and approved by the Director of the Department of Consumer and...
• 731.050   [Repealed by 1965 c.241 §3]
• 731.052   Insurance Code definitions.
  Except where the context otherwise requires, the definitions given in the Insurance Code govern its construction. [1967 c.359 §11]
• 731.056   “Action.”
  “Action” means any action, suit or legal proceeding. [1967 c.359 §12]
• 731.060   [Repealed by 1965 c.241 §3]
• 731.062   [1967 c.359 §13; 1991 c.810 §1; 2001 c.191 §20; 2003 c.364 §1; renumbered 731.104 in 2003]
• 731.066   “Authorized,” “unauthorized” insurer.
  (1) An “authorized” insurer is one authorized by a subsisting certificate of authority to transact insurance in this state. (2) An “unauthorized” insurer is one...
• 731.069   “Certificate,” “certificate holder.”
  (1) “Certificate” means a written statement evidencing the coverage of a person insured under a group insurance policy. (2) “Certificate holder” means an employee or...
• 731.070   [Repealed by 1965 c.241 §3]
• 731.072   “Certificate of authority,” “license.”
  (1) A “certificate of authority” is one issued by the Director of the Department of Consumer and Business Services pursuant to the Insurance Code evidencing...
• 731.074   “Commercial liability insurance.”
  (1) “Commercial liability insurance” means insurance for a business, professional, nonprofit or governmental entity against legal, contractual or assumed liability for death, injury or disability...
• 731.076   “Department,” “director.”
  (1) “Department” means the Department of Consumer and Business Services. (2) “Director” means the Director of the Department of Consumer and Business Services. [1967 c.359...
• 731.080   [Repealed by 1965 c.241 §3]
• 731.082   “Domestic,” “foreign,” “alien” insurer.
  (1) “Domestic insurer” means an insurer formed under the laws of this state. (2) “Foreign insurer” means an insurer formed under the laws of a...
• 731.086   “Domestic risk.”
  “Domestic risk” means a subject of insurance resident, located or to be performed in this state. [1967 c.359 §18]
• 731.090   [Repealed by 1965 c.241 §3]
• 731.092   “Domicile.”
  The “domicile” of an insurer means: (1) As to insurers formed under the laws of Canada or any province thereof, the province in which the...
• 731.096   “Domicile of alien insurer.”
  (1) The domicile of an alien insurer, other than insurers formed under the laws of Canada or a province thereof, shall be that state designated...
• 731.100   [Repealed by 1965 c.241 §3]
• 731.102   “Insurance.”
  (1) “Insurance” means a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk...
• 731.104   “Insurance producer.”
  “Insurance producer” means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. For purposes of this...
• 731.106   “Insurer.”
  “Insurer” includes every person engaged in the business of entering into policies of insurance. [1967 c.359 §22]
• 731.110   [Repealed by 1965 c.241 §3]
• 731.112   “Judgment.”
  “Judgment” includes a final order. [1967 c.359 §23; 2003 c.576 §553]
• 731.116   “Person.”
  “Person” means an individual or a business entity. For the purpose of this definition, “business entity” means a corporation, association, partnership, limited liability company, limited...
• 731.120   [Repealed by 1965 c.241 §3]
• 731.122   “Policy.”
  “Policy” means the written contract or written agreement for or effecting insurance, by whatever name called, and includes all clauses, riders, indorsements and papers which...
• 731.126   “Reinsurance.”
  “Reinsurance” means a contract under which an originating insurer, called the “ceding” insurer, procures insurance for itself in another insurer, called the “assuming” insurer or...
• 731.130   [Repealed by 1965 c.241 §3]
• 731.132   “Required capitalization.”
  “Required capitalization” means the minimum combined paid-up capital and surplus required by the Insurance Code of a stock insurer, or the minimum surplus so required...
• 731.136   “State.”
  When used in context signifying a jurisdiction other than the State of Oregon, “state” means any state, district, territory, commonwealth or possession of the United...
• 731.140   [Repealed by 1965 c.241 §3]
• 731.142   “Stock,” “mutual” and “reciprocal” insurer.
  (1) “Stock insurer” means an incorporated insurer whose capital is divided into shares and owned by its stockholders. (2) “Mutual insurer” means an incorporated insurer...
• 731.144   “Surplus lines insurance.”
  “Surplus lines insurance” means any insurance in this state of risks resident, located or to be performed in this state, permitted to be placed through...
• 731.146   “Transact insurance.”
  (1) “Transact insurance” means one or more of the following acts effected by mail or otherwise: (a) Making or proposing to make an insurance contract....
• 731.150   Definitions of classes of insurance not mutually exclusive.
  It is intended that certain insurance coverages may come within the definitions of two or more classes of insurance as defined in the Insurance Code,...
• 731.154   “Annuity.”
  (1) “Annuity” or “annuity policy” means any agreement to make periodic payments, whether fixed or variable in amount, where the making of all or some...
• 731.156   “Variable life insurance”; “variable annuity.”
  “Variable life insurance” and “variable annuity” mean those forms of life insurance or annuity benefits, respectively, which vary according to the investment experience of a...
• 731.158   “Casualty insurance.”
  “Casualty insurance” means: (1) Insurance against legal, contractual or assumed liability for death, injury or disability of any human, or for damage to property; and...
• 731.162   “Health insurance.”
  “Health insurance” means insurance of humans against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement or...
• 731.164   “Home protection insurance,” “home protection insurer.”
  (1)(a) “Home protection insurance” means that part of casualty insurance that includes only insurance which undertakes to perform or provide repair or replacement service or...
• 731.166   “Industrial life insurance.”
  “Industrial life insurance” means that form of life insurance written under policies of face amount of $2,500 or less, under which premiums are payable monthly...
• 731.170   “Life insurance”; includes annuities.
  (1) “Life insurance” means insurance on human lives and every insurance appertaining thereto and includes the granting of endowment benefits, additional benefits in event of...
• 731.174   “Marine and transportation insurance.”
  “Marine and transportation insurance” includes: (1) Insurance against any and all kinds of loss of or damage to: (a) Vessels, craft, aircraft, cars, automobiles and...
• 731.178   “Mortgage insurance.”
  “Mortgage insurance” means insurance against financial loss by reason of: (1) Nonpayment of principal, interest and other sums agreed to be paid under the terms...
• 731.182   “Property insurance.”
  “Property insurance” means insurance on real or personal property of every kind and of every interest therein, whether on land, water or in the air,...
• 731.186   “Surety insurance.”
  “Surety insurance” means insurance guaranteeing the fidelity of persons holding places of trust, the performance of duties, contracts, bonds and undertakings, including the signing thereof...
• 731.190   “Title insurance.”
  “Title insurance” means insurance of owners of property or others having an interest therein or liens or encumbrances thereon, against loss by encumbrance, defective titles,...
• 731.194   “Wet marine and transportation insurance.”
  “Wet marine and transportation insurance” is that part of marine and transportation insurance that includes only: (1) Insurance upon vessels, crafts, hulls and of interests...
• 731.204   [Formerly 736.495; repealed by 1987 c.373 §85]
• 731.208   [Formerly 736.500; repealed by 1987 c.373 §85]
• 731.212   [1967 c.359 §46; repealed by 1987 c.373 §85]
• 731.216   Administrative power of director.
  The Director of the Department of Consumer and Business Services shall have the power to: (1) Contract for and procure, on a fee or part-time...
• 731.220   [Formerly 736.507; repealed by 1987 c.373 §85]
• 731.224   [1967 c.359 §49; repealed by 1987 c.373 §85]
• 731.228   Prohibited interests and rewards.
  (1) No officer or employee of the Department of Consumer and Business Services delegated responsibilities in the enforcement of the Insurance Code shall: (a) Be...
• 731.232   Subpoena power.
  (1) For the purpose of an investigation or proceeding under the Insurance Code, the Director of the Department of Consumer and Business Services may administer...
• 731.236   General powers and duties.
  (1) The Director of the Department of Consumer and Business Services shall enforce the provisions of the Insurance Code for the public good, and shall...
• 731.240   Hearings in general.
  (1) The Director of the Department of Consumer and Business Services shall hold a hearing upon written demand for a hearing by a person aggrieved...
• 731.244   Rules.
  In accordance with the applicable provisions of ORS chapter 183, the Director of the Department of Consumer and Business Services may make reasonable rules necessary...
• 731.248   Orders.
  (1) Orders of the Director of the Department of Consumer and Business Services shall be effective only when in writing and signed by the director...
• 731.252   Cease and desist orders.
  (1) Whenever the Director of the Department of Consumer and Business Services has reason to believe that any person has been engaged or is engaging...
• 731.256   Enforcement generally.
  (1) The Director of the Department of Consumer and Business Services may institute such actions or other lawful proceedings as the director may deem necessary...
• 731.258   Enforcement of orders and decisions by Attorney General; filing, enforcement and effect of foreign decrees.
  (1) The Attorney General upon request of the Director of the Department of Consumer and Business Services may proceed in the courts of this state...
• 731.260   False or misleading filings.
  No person shall file or cause to be filed with the Director of the Department of Consumer and Business Services any article, certificate, report, statement,...
• 731.264   Complaints and investigations confidential; permitted disclosures; rules.
  (1) A complaint made to the Director of the Department of Consumer and Business Services against any person regulated by the Insurance Code, and the...
• 731.268   Use of reproductions and certified copies as evidence; fee.
  (1) Photographs or microphotographs in the form of film or prints of documents and records made by the Director of the Department of Consumer and...
• 731.272   Director’s annual reports; notice of publication of report.
  (1) The Director of the Department of Consumer and Business Services shall prepare annually, as soon after March 1 as is consistent with full and...
• 731.276   Recommendations for changes in Insurance Code.
  The Director of the Department of Consumer and Business Services shall continuously review the Insurance Code and may, from time to time, make recommendations for...
• 731.280   Publications authorized.
  The Director of the Department of Consumer and Business Services shall publish: (1) Pamphlet or booklet copies of the insurance laws of this state; (2)...
• 731.282   Authority to sell publications.
  The Director of the Department of Consumer and Business Services may sell, at a price reasonably calculated to cover the costs of preparation, any of...
• 731.284   Distribution of insurance laws.
  Copies of the insurance laws in pamphlet form may be sold by the Director of the Department of Consumer and Business Services at a reasonable...
• 731.288   Recording complaints; director to consider complaints before issuing licenses.
  The Department of Consumer and Business Services shall record each complaint the department receives, including the subsequent disposition of the complaint. The record of a...
• 731.292   Disposition of fees, charges, taxes, penalties and other moneys.
  (1) Except as provided in subsections (2) and (3) of this section, all fees, charges and other moneys received by the Department of Consumer and...
• 731.296   Director’s inquiries.
  The Director of the Department of Consumer and Business Services may address any proper inquiries to any insurer, licensee or its officers in relation to...
• 731.300   Examination of insurers; when required.
  (1) The Director of the Department of Consumer and Business Services shall examine every authorized insurer, including an audit of the financial affairs of such...
• 731.302   Appointment of examiners; retaining of appraisers, actuaries and others; evidentiary status of facts and conclusions.
  (1) When the Director of the Department of Consumer and Business Services determines that an examination should be conducted, the director shall appoint one or...
• 731.304   Investigation of persons transacting insurance.
  The Director of the Department of Consumer and Business Services, whenever the director deems it advisable in the interest of policyholders or for the public...
• 731.308   Procedure at examination or investigation; production of books and other records.
  (1) Upon an examination or investigation the Director of the Department of Consumer and Business Services may examine under oath all persons who may have...
• 731.312   Report of examination; review by person examined; hearing; confidentiality of certain information and documents; permitted disclosures.
  (1) Not later than the 60th day after completion of an examination, the examiner in charge of the examination shall submit to the Director of...
• 731.314   Immunity for director, examiner and others.
  (1) No cause of action may arise and no liability may be imposed against the Director of the Department of Consumer and Business Services, an...
• 731.316   Expenses of examination of insurer.
  Any person examined under ORS 731.300 shall pay to the Director of the Department of Consumer and Business Services the just and legitimate costs of...
• 731.324   Service of process on Secretary of State; notice to unauthorized insurer.
  (1) Any act set forth in ORS 731.146 by an unauthorized insurer is equivalent to and shall constitute an irrevocable appointment by such insurer, binding...
• 731.328   Deposits by unauthorized insurers in actions or proceedings.
  (1) Before an unauthorized insurer files or causes to be filed any pleading in any court action or any notice, order, pleading, or process in...
• 731.354   Certificate of authority required.
  No person shall act as an insurer and no insurer shall directly or indirectly transact insurance in this state except as authorized by a subsisting...
• 731.356   Unauthorized insurance transaction enforcement.
  When the Director of the Department of Consumer and Business Services believes, from evidence satisfactory to the director, that any insurer is violating or about...
• 731.358   Requirements of domestic insurers generally.
  Upon application a domestic insurer shall be granted a certificate of authority to transact any class of insurance permitted by the Insurance Code and provided...
• 731.362   Requirements of foreign or alien insurers generally.
  (1) A foreign or alien insurer may be authorized to transact insurance in this state when it has complied with the following requirements: (a) It...
• 731.363   Authorized foreign insurer becoming domestic insurer.
  (1) An authorized foreign insurer may become a domestic insurer: (a) By complying with all of the requirements of law relating to the organization and...
• 731.364   Domestic insurer transferring domicile to another state.
  A domestic insurer, upon the approval of the Director of the Department of Consumer and Business Services, may transfer its domicile to any other state...
• 731.365   Effect of transfer of domicile by domestic or foreign insurer; notice to director by transferring insurer.
  (1) The certificate of authority, insurance producer appointments and licenses, rates and other items allowed by the Director of the Department of Consumer and Business...
• 731.366   [Formerly 749.040; 1971 c.231 §42; 1977 c.651 §1; 1993 c.709 §4; renumbered 731.369 in 1995]
• 731.367   Transfer of domicile by unincorporated authorized foreign insurer.
  An unincorporated authorized foreign insurer transfers its domicile to this state when the Director of the Department of Consumer and Business Services determines that it...
• 731.369   Requirements of reciprocal insurers generally.
  (1) A reciprocal insurer, through its attorney, shall file with the Director of the Department of Consumer and Business Services a declaration, verified by the...
• 731.370   Reciprocal insurer’s financial statement; service of process.
  (1) The application for a certificate of authority shall be accompanied by a sworn statement of a reciprocal insurer showing the financial condition of the...
• 731.371   Powers of reciprocal insurer regarding real estate.
  Except where inconsistent with other provisions of the Insurance Code, a reciprocal insurer in its own name, as in the case of an individual, may...
• 731.374   Exemptions to certificate of authority requirement.
  A certificate of authority is not required of an insurer with respect to the following: (1) Transactions pursuant to surplus lines coverages lawfully written under...
• 731.378   Foreign and alien insurers exempt from laws governing admission of foreign and alien corporations.
  No foreign or alien insurer that has complied with the requirements of the Insurance Code shall be subject to any other provisions of the laws...
• 731.380   Authority of foreign and alien insurers to take, acquire, hold and enforce notes secured by mortgages; statement; fees.
  (1) Subject to subsection (2) of this section, any foreign or alien insurer, without being authorized to transact business in this state, may take, acquire,...
• 731.381   Exemption from taxes for foreign and alien insurers engaging in activities authorized by ORS 731.380.
  Engaging in the activities authorized by ORS 731.380 by a foreign or alien insurer shall not subject the foreign or alien insurer to any tax,...
• 731.382   General eligibility for certificate of authority.
  To qualify for and hold authority to transact insurance in this state an insurer must be an incorporated insurer, or a reciprocal insurer or an...
• 731.385   Standards for determining whether continued operation of insurer is hazardous; rules; order; hearing.
  (1) The Director of the Department of Consumer and Business Services shall establish standards by rule for determining whether the continued operation of an authorized...
• 731.386   Management of insurers.
  The Director of the Department of Consumer and Business Services shall not grant or continue authority to transact insurance in this state for any insurer:...
• 731.390   Government insurers not to be authorized.
  No certificate of authority may be issued to any state, province or foreign government nor to any instrumentality, political subdivision or agency thereof. [Formerly 736.080]
• 731.394   Combinations of insuring powers in one insurer.
  An insurer that otherwise qualifies therefor may be authorized to transact any one class or combination of classes of insurance, except: (1) A reciprocal insurer...
• 731.396   Certificate of authority and good financial condition required to issue variable life insurance or variable annuity policies.
  No domestic, foreign or alien insurer shall deliver or issue for delivery in this state variable life insurance or variable annuity policies unless the insurer...
• 731.398   Amendment of certificate of authority.
  The Director of the Department of Consumer and Business Services at any time may amend an insurer’s certificate of authority to accord with lawful changes...
• 731.402   Issuance or refusal of certificate of authority.
  (1) The Director of the Department of Consumer and Business Services shall issue to an insurer a certificate of authority if upon completion of the...
• 731.406   What certificate evidences; ownership of certificate.
  (1) An insurer’s subsisting certificate of authority is evidence of its authority to transact in this state the class or classes of insurance specified therein,...
• 731.410   Continuance, expiration or reinstatement of certificate of authority.
  (1) A certificate of authority shall continue in force as long as the insurer is entitled thereto under the Insurance Code and until suspended or...
• 731.414   Suspension or revocation of certificate of authority; mandatory grounds.
  (1) The Director of the Department of Consumer and Business Services shall refuse to continue, or shall suspend or revoke, an insurer’s certificate of authority...
• 731.418   Grounds for suspension or revocation of certificate of authority.
  (1) The Director of the Department of Consumer and Business Services may refuse to continue or may suspend or revoke an insurer’s certificate of authority...
• 731.422   Order of suspension, revocation or refusal; effect upon insurance producers’ authority.
  (1) All suspensions or revocations of, or refusals to continue, an insurer’s certificate of authority shall be by order of the Director of the Department...
• 731.426   Duration of suspension; insurer’s obligations during suspension period; reinstatement.
  (1) In an order suspending the certificate of authority of an insurer, the Director of the Department of Consumer and Business Services may provide that...
• 731.428   Written consent to engage or participate in business of insurance; rules.
  (1) A person who is prohibited by 18 U.S.C. 1033 from engaging or participating in the business of insurance because of a conviction of a...
• 731.430   Name of insurer.
  (1) No insurer shall be formed or authorized to transact insurance in this state which has or will have, or which uses or will use...
• 731.434   Registered office and agent.
  (1) The provisions, procedures and requirements of ORS chapter 60 relating to a registered office, registered agent and to service of process, notice and demand...
• 731.438   Title plant requirement for title insurers; posting of indexes; plant ownership and maintenance.
  (1) A title insurer, in order to receive and maintain a certificate of authority, shall own and maintain at all times a title plant covering...
• 731.439   Satisfaction of requirements of ORS 731.438 (1) by certain title plants.
  A title plant that conforms on December 31, 1999, with ORS 731.438 (1) and (2) (1997 Edition) satisfies the requirements of ORS 731.438 (1) as...
• 731.442   Prohibition on transacting life insurance business on mutual assessment plan.
  An insurer may not transact a life insurance business upon a mutual assessment plan within this state. [Formerly 739.105; 2005 c.185 §1]
• 731.446   Policyholder deposits.
  An insurer may accept, from a holder of a life insurance policy, deposits in addition to current premium payments to provide a fund for payment...
• 731.450   Unrelated business prohibited; exceptions; title insurer as escrow agent.
  Except as authorized by the federal Gramm-Leach-Bliley Act (P.L. 106-102), an insurer may not engage in any business except the making of insurance or a...
• 731.454   Domestic insurers not to transact business in jurisdiction where not authorized.
  No domestic insurer, or any of the representatives thereof, shall transact insurance in any jurisdiction in which such insurer is not authorized in accordance with...
• 731.458   Exchange of reciprocal or interinsurance contracts.
  (1) Individuals, partnerships and corporations of this state, hereby designated as subscribers, may exchange reciprocal or interinsurance contracts with each other, or with individuals, partnerships...
• 731.462   Nonassessable policies of reciprocal insurer.
  A reciprocal insurer having a surplus of not less than $500,000 may issue nonassessable policies. [1967 c.359 §100]
• 731.466   Power of attorney for reciprocal insurer.
  (1) The rights and power of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the...
• 731.470   Attorney for reciprocal insurer.
  (1) Any instrument required to be verified by the oath of the attorney for a reciprocal insurer may, in case of an incorporated attorney, be...
• 731.475   Records storage required of workers’ compensation insurers; examination and audit of records.
  (1) Every insurer authorized to issue workers’ compensation coverage to subject employers as required by ORS chapter 656 shall maintain a place of business in...
• 731.480   Guaranty contracts issued by workers’ compensation insurers.
  An insurer shall not issue guaranty contracts pursuant to ORS chapter 656 unless it furnishes occupational safety and health loss control consultative services to its...
• 731.482   Withdrawal from, failure to renew or cancellation of line by commercial liability insurer.
  (1) Except as provided in subsection (5) of this section, an insurance company selling commercial liability insurance and authorized to do business in Oregon may...
• 731.484   Prohibition on certain sales related to group health and group life insurance.
  (1) No insurer or insurance producer selling a policy of group life insurance or group health insurance subject to an exemption in ORS 731.146 (2)(b)...
• 731.485   Conditions under which insurer may limit insured’s choice of drug outlets and pharmacies.
  (1) An insurer may limit the drug outlets or pharmacists from which a person covered under a health insurance policy issued by the insurer is...
• 731.486   Exemption from definition of “transact insurance” for group life policies; master group health insurance coverage; rules.
  (1) The exemption in ORS 731.146 (2)(b) does not apply to an insurer that offers coverage under a group life insurance policy in this state...
• 731.488   Annual audit of insurer; rules.
  (1) Each insurer shall have an annual audit conducted by an independent certified public accountant and shall file an audited financial report annually with the...
• 731.490   [1987 c.774 §52; repealed by 1997 c.131 §1]
• 731.493   [1987 c.774 §53; repealed by 1997 c.131 §1]
• 731.496   [1987 c.774 §54; repealed by 1997 c.131 §1]
• 731.498   [1987 c.774 §58; repealed by 1997 c.131 §1]
• 731.500   [1987 c.774 §59; repealed by 1997 c.131 §1]
• 731.504   Limit of risk.
  (1) No insurer shall retain any risk on any one subject of insurance, whether a domestic risk or not, in an amount exceeding 10 percent...
• 731.508   Approved reinsurance.
  (1) An insurer may accept reinsurance only of such risks, and retain risk thereon within such limits, as it is otherwise authorized to insure. (2)...
• 731.509   Legislative intent; criteria for allowing credit for reinsurance.
  (1) The purpose of ORS 731.509, 731.510, 731.511, 731.512 and 731.516 is to protect the interests of insureds, claimants, ceding insurers, assuming insurers and the...
• 731.510   Criteria for allowing reduction from liability for reinsurance.
  (1) Subject to the provisions of ORS 731.508 relating to allowance of credit for reinsurance, the Director of the Department of Consumer and Business Services...
• 731.511   Criteria to be met by assuming insurer in order to be accredited as reinsurer.
  (1) For purposes of allowing credit to a ceding domestic insurer under ORS 731.509 when the reinsurance is ceded to an assuming insurer that is...
• 731.512   Withdrawal of insurer; reinsurance.
  (1) No insurer shall withdraw from this state until its direct liability to its policyholders and obligees under all its insurance policies then in force...
• 731.516   Mortgage insurance limitation.
  A mortgage insurer shall not have outstanding at any time mortgage insurance policies covering amounts of insured obligations and amounts of insured future lease payments...
• 731.554   Capital and surplus requirements.
  (1) Except as provided in subsections (2) to (6) of this section and ORS 731.562 and 731.566, to qualify for authority to transact insurance in...
• 731.558   [1967 c.359 §107; repealed by 1993 c.447 §122]
• 731.562   Title insurer capital and surplus requirements.
  To qualify for authority to transact title insurance in this state, an insurer shall possess and thereafter maintain capital or surplus, or any combination thereof,...
• 731.566   Reciprocal insurer surplus requirements.
  To qualify for authority to transact insurance in this state, a reciprocal insurer shall possess and thereafter maintain a surplus of not less than $2.5...
• 731.568   [1993 c.709 §2; repealed by 2001 c.318 §4]
• 731.570   Withdrawing advancements made to reciprocal insurer.
  No advancement made by the subscribers or the attorney of a reciprocal insurer shall be withdrawn or refunded except out of the surplus of the...
• 731.574   Annual financial statement.
  (1) Except as provided in subsection (4) of this section, every authorized insurer shall file with the Director of the Department of Consumer and Business...
• 731.590   “Insurer” defined for ORS 731.592 and 731.594.
  As used in ORS 731.592 and 731.594, “insurer” includes, but is not limited to: (1) An insurer, as defined in ORS 731.106. (2) A health...
• 731.592   Reporting criminal conduct involving insurance.
  (1) Notwithstanding ORS 746.665, an insurer shall cooperate with any law enforcement agency or other state or federal agency that is investigating or prosecuting suspected...
• 731.594   Immunity from civil liability.
  Unless it is shown that the person, including an insurer, acted with actual malice, a person who discloses or provides information under ORS 731.592 has...
• 731.604   Acceptance of deposits of insurers.
  The following deposits of insurers shall be accepted and held by the Department of Consumer and Business Services for the purposes for which such deposits...
• 731.608   Purpose of deposit.
  (1) Except as provided in subsection (2) of this section, deposits made in this state under ORS 731.624 shall be held for the faithful performance...
• 731.612   Rights of insurer regarding deposits.
  While the insurer remains unimpaired and is in compliance with the Insurance Code it may: (1) Demand, receive, sue for and recover the income from...
• 731.616   Valuation of deposits; deficiencies.
  (1) For the purpose of determining the sufficiency of its deposit in this state the assets of the insurer on deposit shall be valued at...
• 731.620   Assignment of deposited securities.
  (1) The insurer shall assign in trust to the Director of the Department of Consumer and Business Services and successors in office all securities being...
• 731.624   Special deposits; foreign and alien insurers.
  Every insurer, before transacting insurance in this state, shall make the following deposits with the Department of Consumer and Business Services: (1) Foreign or alien...
• 731.628   Deposit required of workers’ compensation insurers.
  (1) In addition to any other requirement therefor under the Insurance Code, each insurer other than the State Accident Insurance Fund Corporation that issues guaranty...
• 731.632   Deposit required of domestic reciprocal insurers; exception.
  Every domestic reciprocal insurer shall deposit with the Department of Consumer and Business Services $50,000, except such an insurer which exchanges policies of insurance covering...
• 731.636   Deposit or trusteed assets of alien insurer required.
  (1) Except as provided in subsection (3) of this section, every alien insurer, before transacting insurance in this state as an authorized insurer, shall deposit...
• 731.640   Eligible deposits; rules.
  (1) Deposits which are required or permitted under the Insurance Code shall consist only of the following: (a) Cash. (b) Amply secured obligations of the...
• 731.642   Contracts for security deposits.
  The Director of the Department of Consumer and Business Services, in performing duties under ORS 731.604 to 731.652 and after consultation with the State Treasurer,...
• 731.644   Payment of losses out of deposits, generally.
  (1) Except as otherwise provided in the Insurance Code, no judgment creditor or other claimant of an insurer shall have the right to levy upon...
• 731.648   Duration and release of deposit.
  (1) Every deposit made in this state by an insurer pursuant to the Insurance Code shall be so held as long as there is outstanding...
• 731.652   Proofs for release of deposit to insurers; director’s responsibility.
  (1) Before releasing any deposit or portion thereof to the insurer, as provided in ORS 731.648, the Director of the Department of Consumer and Business...
• 731.704   [Formerly 128.820; 1971 c.425 §2; 1975 c.699 §1; 1983 c.740 §253; 1989 c.326 §1; 1989 c.413 §4; 1991 c.189 §1; 1991 c.190 §1; 1993 c.53 §1; 1997 c.735 §1; repealed by 2005 c.31 §4]
• 731.708   [Formerly 128.830; 1995 c.639 §2a; repealed by 2005 c.31 §4]
• 731.712   [1967 c.359 §127; 1971 c.425 §3; 1989 c.784 §15; repealed by 2005 c.31 §4]
• 731.716   [Formerly 128.850; 1971 c.425 §4; repealed by 2005 c.31 §4]
• 731.720   [Formerly 128.860; 1971 c.425 §5; 1993 c.377 §2; 1995 c.639 §2; 1997 c.131 §2; repealed by 2005 c.31 §4]
• 731.724   [Formerly 128.880; 1971 c.425 §6; repealed by 2005 c.31 §4]
• 731.730   Insurer filings with National Association of Insurance Commissioners.
  (1) Every authorized insurer shall file with the National Association of Insurance Commissioners, on or before March 1 of each year, a copy of its...
• 731.731   Immunity for certain persons dealing with information collected from filings under ORS 731.730.
  Except in the case of malfeasance in office or willful or wanton neglect of duty or authority, there shall be no liability on the part...
• 731.735   Certain information confidential.
  All financial analysis ratios and examination synopses concerning insurers that are submitted to the Director of the Department of Consumer and Business Services by the...
• 731.737   Immunity from liability for certain persons filing reports or furnishing information about specified activities to specified persons.
  (1) A person or other entity described in this subsection acting without malice, fraudulent intent or bad faith is not subject to civil liability, and...
• 731.740   [1995 c.638 §5a; repealed by 2001 c.377 §59]
• 731.750   Confidentiality of report of material acquisitions or dispositions of assets, material nonrenewals, cancellations and revisions of ceded reinsurance agreements.
  (1) A report filed with the Director of the Department of Consumer and Business Services according to requirements established by rule for disclosure of material...
• 731.752   Confidentiality of report used for determination of required amount of capital or surplus; confidentiality of financial plan of action and report of examination connected with plan.
  (1) A report filed with the Director of the Department of Consumer and Business Services according to requirements established by rule for the purpose of...
• 731.754   Permissible uses of reports and plans described in ORS 731.752.
  (1) The Director of the Department of Consumer and Business Services may use the following only for the purpose of monitoring the solvency of insurers...
• 731.760   Definitions for ORS 731.760 to 731.770.
  As used in ORS 731.760 to 731.770: (1) “Insurance compliance audit” means a voluntary internal evaluation, review, assessment, audit or investigation that is undertaken to...
• 731.761   Privileged information.
  (1) Except as provided in ORS 731.760 to 731.770, an insurance compliance self-evaluative audit document is privileged information and is not discoverable, or admissible as...
• 731.762   Authority of director.
  (1) ORS 731.761 does not limit the authority of the Director of the Department of Consumer and Business Services to acquire any insurance compliance self-evaluative...
• 731.764   Waiver of privilege; permitted disclosures.
  (1) The privilege set forth in ORS 731.761 does not apply to the extent that the privilege is expressly waived by the insurer that prepared...
• 731.766   Petition for in camera hearing; hearing; compelled disclosure.
  (1) Within 30 days after a district attorney or the Attorney General serves on an insurer a written request by certified mail for disclosure of...
• 731.768   Privilege; exceptions.
  The privilege established under ORS 731.761 does not apply to any of the following: (1) Documents, communications, data, reports or other information expressly required to...
• 731.770   Other privileges or limitations pertaining to audit document.
  Nothing in ORS 731.760 to 731.770, or in the release of any insurance compliance self-evaluative audit document under ORS 731.760 to 731.770, shall limit, waive...
• 731.804   Assessments; rules; fees; how determined.
  (1) Except as otherwise provided in this section, each authorized insurer doing business in this state shall pay assessments that the Director of the Department...
• 731.808   “Gross amount of premiums” defined.
  As used in ORS 731.804, 731.812 and 731.820, “gross amount of premiums” means the consideration paid by insureds to an insurer for policies of insurance,...
• 731.812   Foreign and alien insurer’s report of Oregon business.
  Every foreign or alien insurer, in its annual statement to the Director of the Department of Consumer and Business Services, shall set forth the gross...
• 731.816   [1967 c.359 §134; 1971 c.560 §1; 1989 c.700 §5; repealed by 1995 c.786 §1]
• 731.820   Gross premium tax on fire insurance premiums.
  (1)(a) For the purpose of maintaining the office of State Fire Marshal and paying the expenses incident thereto, every insurer transacting insurance covering the peril...
• 731.822   Prepayment of tax due.
  (1) Every insurer with a tax obligation under section 2, chapter 786, Oregon Laws 1995, ORS 731.820 or ORS 731.854 and 731.859 shall make prepayment...
• 731.824   Tax on underwriting profits of wet marine and transportation insurers.
  (1) Wet marine and transportation insurance written by foreign or alien insurers within this state shall be taxed only on that proportion of the total...
• 731.828   Computation of wet marine and transportation insurance tax.
  (1) Each insurer transacting wet marine and transportation insurance in this state shall file annually on or before June 15 with the Director of the...
• 731.832   [Formerly 736.175; 1987 c.373 §82; repealed by 1995 c.786 §4]
• 731.836   Limitation on enforcement of insurer’s tax obligations.
  The Director of the Department of Consumer and Business Services shall commence an action for the recovery of taxes payable under ORS 731.820, 731.824, 731.828...
• 731.840   Retaliatory or corporate excise tax in lieu of certain taxes; certain local taxes prohibited.
  (1) The retaliatory tax imposed upon a foreign or alien insurer under ORS 731.854 and 731.859, or the corporate excise tax imposed upon a foreign...
• 731.841   Conditions under which local authority to tax insurer is preempted.
  If, on account of the provisions of section 2, chapter 786, Oregon Laws 1995, and the amendments to ORS 731.840 by section 6, chapter 786,...
• 731.842   Adjustment of amount to be prepaid for taxes; extension of time for payment; interest; penalty for late payment.
  (1) The Director of the Department of Consumer and Business Services may grant, for good cause shown, a request for an adjustment of the amount...
• 731.844   No personal liability for paying invalid tax.
  No personal liability shall arise against any director, trustee, officer or agent of any insurer on account of any taxes or fees paid pursuant to...
• 731.854   Retaliatory tax.
  (1) When by or pursuant to the laws of any other state or foreign country any taxes, licenses and other fees, in the aggregate, and...
• 731.858   [Formerly 736.245; repealed by 1969 c.158 §2 (731.859 enacted in lieu of 731.858)]
• 731.859   Applicability of retaliatory provisions.
  (1) On or before April 1 of each year, each foreign or alien insurer shall: (a) Determine and report to the Director of the Department...
• 731.988   Civil penalties.
  (1) Any person who violates any provision of the Insurance Code, any lawful rule or final order of the Director of the Department of Consumer...
• 731.990   [Repealed by 1965 c.241 §3]
• 731.992   Criminal penalty.
  (1) Violation of ORS 731.260 is punishable upon conviction, in the case of an individual, by imprisonment in the county jail for not more than...

Last modified: August 7, 2008