Oregon Statutes - Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally - Section 732.175 - Liability for acting as corporate insurer without authority.

Any person who assumes to act as a corporate insurer without a permit to organize and without the issuance of a certificate of incorporation by the Director of the Department of Consumer and Business Services or who assumes to transact insurance business without a certificate of authority to transact such business issued by the director shall be jointly and severally liable for all liabilities created while so acting. [1967 c.359 §163; 1981 c.633 §80; 1987 c.846 §5]

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Last modified: August 7, 2008