ORS Chapter 732 - Oregon Statutes

Chapter 732 — Organizationand Corporate Procedures of Domestic Insurers;

 Regulation ofInsurers Generally

 

2009 EDITION

 

 

DOMESTICINSURERS

 

INSURANCE

 

GENERALPROVISIONS

 

732.005     Applicationof private corporation law; definitions

 

ORGANIZATION

 

732.015     Permitto organize insurer required

 

732.025     Applicationfor permit to organize stock insurer; rules

 

732.035     Applicationfor permit to organize insurer without capital stock

 

732.045     Investigationof applications to organize insurers

 

732.055     Approvalor disapproval of application for permit

 

732.065     Reportingof changes in information in application

 

732.075     Revokingor suspending permit to organize insurer

 

732.085     Incorporators

 

732.095     Articlesof incorporation

 

732.105     Filingarticles of incorporation and surety bond, letter of credit or deposit

 

732.115     Approvalof articles, documents and bond, letter of credit or deposit; certificate ofincorporation

 

732.125     Registrationof securities subsequent to issuance of organization permit and certificate ofincorporation

 

732.135     Solicitingsubscriptions and applications

 

732.145     Stipulationsrequired in subscriptions and applications; disposition of subscribed funds

 

732.155     Organizationto be completed within two years; policies to be issued within one year ofcertification

 

732.165     Liabilityof directors and incorporators

 

732.175     Liabilityfor acting as corporate insurer without authority

 

CORPORATEPROCEDURES GENERALLY

 

732.205     Generalpowers of insurers

 

732.210     Assertionof lack of capacity or power

 

732.215     Managementcontracts prohibited

 

732.220     Exclusiveagency contracts

 

732.225     Impairmentof required capitalization prohibited; rules

 

732.230     Orderto cure impairment; confidentiality of order

 

732.235     Voluntarydissolution of insurer

 

732.240     Trustsof life insurance proceeds

 

732.245     Homeoffice; records, assets; unlawful removal; rules

 

732.250     Continuityof management in event of national emergency

 

DIRECTORS,OFFICERS AND EMPLOYEES

 

732.305     Boardof directors; qualifications

 

732.320     Supportingdocuments for expenditures

 

732.325     Certaintransactions and compensation between insurers and directors, trustees,officers, agents or employees prohibited; other prohibited conduct

 

SHARES,SHAREHOLDERS AND MEMBERS

 

(GeneralProvisions)

 

732.405     Authorizedshares

 

732.410     Rightto acquire own shares

 

732.415     Stockinsurer’s proxies; regulation by director; rules

 

(InsiderTrading)

 

732.420     “Equitysecurity” defined; rules

 

732.425     Applicationof insider trading regulation

 

732.430     Filingstatement of security ownership with director; rules

 

732.435     Suitto recover insider profits; exempted transactions; rules

 

732.440     Prohibitedsales of securities

 

732.445     Establishingor maintaining primary or secondary market in securities; rules

 

732.450     Arbitragetransactions exempt; rules

 

732.455     Rules

 

(Shareholdersand Members)

 

732.460     Annualreport to shareholders or members; rules

 

732.465     Membersof domestic mutual insurers

 

732.470     Votingrights of members of mutual insurer

 

732.475     Members’meetings and procedures of domestic mutual and reciprocal insurers

 

732.480     Copyof bylaws of domestic mutual insurer to be provided to director; provisions ofbylaws

 

ACQUISITIONSAND MERGERS

 

732.517     Purposeof ORS 732.517 to 732.546

 

732.518     Definitionsfor ORS 732.517 to 732.546

 

732.521     Activitiesthat are prohibited unless specified procedures followed; exceptions

 

732.523     Procedurefor acquiring controlling interest of capital stock; filing of statement;request for hearing

 

732.526     Hearingon proposed activity; notice

 

732.528     Approvalof proposed activity; grounds for refusing approval

 

732.529     Proceduresfollowing approval by director of proposed activity

 

732.531     Acquisitionof assets or insurance of mutual or reciprocal insurers

 

732.533     Statementof acquisition

 

732.536     Compliancewith foreign or alien laws

 

732.538     Effectof merger or consolidation

 

732.541     Jurisdictionover person obtaining or attempting to obtain control

 

732.543     Remediesfor violation of ORS 732.517 to 732.546

 

732.546     Severability

 

INSURANCEHOLDING COMPANY REGISTRATION

 

732.548     Definitionsfor ORS 732.517 to 732.592

 

732.549     Subsidiaries

 

732.551     Registrationof insurer members of holding company systems

 

732.552     Registrationstatement; form; contents

 

732.553     Certaininformation not required to be disclosed

 

732.554     Changesin registration information; reports of distributions to shareholders

 

732.556     Requirementthat certain persons provide information to insurers

 

732.558     Terminationof registration by director

 

732.562     Consolidatedregistration

 

732.564     Registrationfor affiliated insurers

 

732.566     Exemptionfrom ORS 732.517 to 732.592 by director

 

732.568     Disclaimerof affiliation; contents; subsequent duty to register; disallowance ofdisclaimers by director

 

732.572     Rulemakingauthority for ORS 732.517 to 732.592

 

STANDARDSAND MANAGEMENT OF INSURER WITHIN AN INSURANCE HOLDING COMPANY SYSTEM

 

732.574     Standardsfor transactions within holding company; notice

 

732.576     Dividendsand distributions

 

732.578     Effectof control of insurer subject to registration on director and officer liability

 

732.582     Determinationof reasonableness and adequacy of capital and surplus

 

EXAMINATIONS,CONFIDENTIALITY, REGULATORY POWERS

 

732.584     Examinations

 

732.586     Confidentialityof information; permitted disclosures

 

732.588     Supervision,rehabilitation or liquidation

 

732.592     Recoveryfrom parent corporation or holding company if domestic insurer ordered intoliquidation or rehabilitation

 

CONVERSIONOR REORGANIZATION OF DOMESTIC MUTUAL INSURER

 

732.600     Definitionsfor ORS 732.600 to 732.630

 

732.602     Intentof ORS 732.600 to 732.630

 

732.604     Permissibleactions of domestic mutual insurer; rules