Oregon Statutes - Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally - Section 732.578 - Effect of control of insurer subject to registration on director and officer liability.

Control by any person of a domestic insurer subject to registration does not relieve the officers and directors of the insurer of any obligation or liability to which they would otherwise be subject by law. The insurer must be managed so as to assure its separate operating identity in accordance with the Insurance Code. [1993 c.447 §49]

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Last modified: August 7, 2008