(1) Funds of an insurer may be invested in a manner not expressly prohibited under ORS 732.325 and 733.780, provided such investments are made in the exercise of the judgment and care under the circumstances then prevailing which investors of prudence, discretion and intelligence exercise in the management of their own affairs not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.
(2) Funds invested under this section shall not exceed the lesser of seven and one-half percent of the insurer’s assets or the excess of the insurer’s assets over all liabilities and required capitalization.
(3) If the Director of the Department of Consumer and Business Services has reason to believe that loans or investments made pursuant to this section are not adequately secured or are not yielding an income the director may direct the insurer to report under oath the amount of such loans or investments, the security therefor and its market value. [Formerly 738.305; 1979 c.846 §2; 1989 c.425 §4a]
Section: Previous 733.640 733.650 733.652 733.654 733.656 733.658 733.660 733.670 733.680 733.685 733.690 733.695 733.700 733.710 733.720 NextLast modified: August 7, 2008