Oregon Statutes - Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally - Section 732.165 - Liability of directors and incorporators.

The directors, incorporators, and organizers of any insurer organized under the Insurance Code and those entitled to participation in the profits of such insurer shall be jointly and severally liable for all debts or liabilities of such insurer until it has received a certificate of authority. [1967 c.359 §162]

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Last modified: August 7, 2008