The Oregon Insurance Guaranty Association may:
(1) With the approval of the Director of the Department of Consumer and Business Services, employ or retain such persons or designate such servicing facilities as are necessary to handle claims and perform the other duties of the association. Servicing facilities so designated may be foreign corporations or associations.
(2) Borrow funds necessary to carry out ORS 734.510 to 734.710, in such manner as may be specified in the plan.
(3) Sue or be sued.
(4) Negotiate and become a party to such contracts as are necessary to carry out ORS 734.510 to 734.710.
(5) At the end of any calendar year, refund to member insurers, in proportion to an insurerís payments to the association, that amount by which the board of directors find that the funds of the association exceed its current claims and expenses plus the liabilities estimated for the coming year.
(6) Perform such other acts as are necessary or proper to carry out ORS 734.510 to 734.710. [1971 c.616 §9]Section: Previous 734.550 734.555 734.560 734.570 734.575 734.577 734.579 734.580 734.590 734.600 734.610 734.620 734.630 734.635 734.640 Next
Last modified: August 7, 2008