Oregon Statutes - Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers - Section 734.620 - Notification of insolvency to insured persons; revocation of designation of servicing facility.

The Director of the Department of Consumer and Business Services may:

(1) Require the Oregon Insurance Guaranty Association to notify the insureds of an insolvent insurer of the determination of insolvency and of their rights under ORS 734.510 to 734.710. Such notification may be by:

(a) Certified or first-class mail to the address of each such person as it last appears in the records of the director or the insurer;

(b) Publication in a newspaper of general circulation in this state if the addresses of those persons to be notified is not available from the records of the director or the insurer; or

(c) Any combination of the methods referred to in paragraphs (a) and (b) of this subsection that the association considers likely to inform the persons of their rights under ORS 734.510 to 734.710.

(2) Revoke the designation of any servicing facility that the director finds is not processing and paying claims in the manner provided in the plan and in ORS 734.510 to 734.710. [1971 c.616 §13]

Section:  Previous  734.575  734.577  734.579  734.580  734.590  734.600  734.610  734.620  734.630  734.635  734.640  734.650  734.660  734.670  734.680  Next

Last modified: August 7, 2008