Oregon Statutes - Chapter 733 - Accounting and Investments - Section 733.780 - Prohibited investments.

(1) An insurer shall not make investments:

(a) Which at the time of purchase or acquisition are not interest-bearing or dividend or income-paying, or are in default in any respect; or

(b) From which the insurer is not entitled to receive for its exclusive account and benefit the interest, dividends or income.

(2) Subsection (1)(a) of this section shall not apply to property acquired under ORS 733.610, 733.670 or 733.680 if the property is acquired with the intent and expectation that it will be income-producing.

(3) An insurer shall not invest its funds in any investment or security found by the Director of the Department of Consumer and Business Services to be designed to evade any prohibition of the Insurance Code. [Formerly 738.385]


Section:  Previous  733.660  733.670  733.680  733.685  733.690  733.695  733.700  733.710  733.720  733.730  733.740  733.750  733.760  733.770  733.780

Last modified: August 7, 2008