Oregon Statutes - Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally - Section 732.552 - Registration statement; form; contents.

(1) Every insurer subject to the registration requirements of ORS 732.551 shall file a registration statement on a form prescribed by the Director of the Department of Consumer and Business Services. For purposes of the form, the director shall consider and may prescribe the registration statement form prescribed by the National Association of Insurance Commissioners. The registration statement shall contain current information about:

(a) The capital structure, general financial condition, ownership and management of the insurer and any person controlling the insurer.

(b) The identity and relationship of every member of the insurance holding company system.

(c) The following agreements in force and transactions currently outstanding or that have occurred during the last calendar year between such insurer and its affiliates:

(A) Loans, other investments, or purchases, sales or exchanges of securities of the affiliates by the insurer or of the insurer by its affiliates;

(B) Purchases, sales or exchanges of assets;

(C) Transactions not in the ordinary course of business;

(D) Guarantees or undertakings for the benefit of an affiliate that result in an actual contingent exposure of the insurerís assets to liability, other than insurance contracts entered into in the ordinary course of the insurerís business;

(E) All management agreements, service contracts and all cost-sharing arrangements;

(F) Reinsurance agreements;

(G) Dividends and other distributions to shareholders; and

(H) Consolidated tax allocation agreements.

(d) Any pledge of the stock of the insurer, including stock of any subsidiary or controlling affiliate, for a loan made to any member of the insurance holding company system.

(e) Other matters concerning transactions between registered insurers and any affiliates as may be included from time to time in any registration forms prescribed by the director.

(2) Each registration statement must contain a summary outlining all items in the current registration statement representing changes from the prior registration statement. [Formerly 732.625]

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Last modified: August 7, 2008