Oregon Law
Law as of Jan 1, 2026
Chapter contents
732.005Application of private corporation law; definitions 732.010[Repealed by 1967 c.359 §704] 732.015Permit to organize insurer required 732.020[Repealed by 1967 c.359 §704] 732.025Application for permit to organize stock insurer; rules 732.030[Amended by 1967 c.359 §661; renumbered 751.015] 732.035Application for permit to organize insurer without capital stock 732.040[Amended by 1967 c.359 §662; renumbered 751.025] 732.045Investigation of applications to organize insurers 732.050[Amended by 1967 c.359 §665; renumbered 751.055] 732.055Approval or disapproval of application for permit 732.060[Amended by 1961 c.178 §1; 1967 c.359 §666; renumbered 751.065] 732.065Reporting of changes in information in application 732.070[Repealed by 1967 c.359 §704] 732.075Revoking or suspending permit to organize insurer 732.080[Repealed by 1967 c.359 §704] 732.085Incorporators 732.090[Repealed by 1967 c.359 §704] 732.095Articles of incorporation 732.100[Amended by 1967 c.359 §667; renumbered 751.075] 732.105Filing articles of incorporation and surety bond, letter of credit or deposit 732.110[Amended by 1967 c.359 §668; renumbered 751.085] 732.115Approval of articles, documents and bond, letter of credit or deposit; certificate of incorporation 732.120[Amended by 1967 c.359 §669; renumbered 751.095] 732.125Registration of securities subsequent to issuance of organization permit and certificate of incorporation 732.130[Amended by 1967 c.359 §670; renumbered 751.105] 732.135Soliciting subscriptions and applications 732.140[Amended by 1967 c.359 §671; renumbered 751.115] 732.145Stipulations required in subscriptions and applications; disposition of subscribed funds 732.150[Amended by 1967 c.359 §672; renumbered 751.125] 732.155Organization to be completed within two years; policies to be issued within one year of certification 732.160[Amended by 1967 c.359 §673; renumbered 751.135] 732.165Liability of directors and incorporators 732.175Liability for acting as corporate insurer without authority 732.205General powers of insurers 732.210Assertion of lack of capacity or power 732.215Management contracts prohibited 732.220Exclusive agency contracts 732.225Impairment of required capitalization prohibited; rules 732.230Order to cure impairment; confidentiality of order 732.235Voluntary dissolution of insurer 732.240Trusts of life insurance proceeds 732.245Home office; records, assets; unlawful removal; rules 732.250Continuity of management in event of national emergency 732.305Board of directors; qualifications 732.310[1967 c.359 §175; repealed by 1987 c.846 §19] 732.315[Formerly 738.200; repealed by 1983 c.24 §1] 732.320Supporting documents for expenditures 732.325Certain transactions and compensation between insurers and directors, trustees, officers, agents or employees prohibited; other prohibited conduct 732.405Authorized shares 732.410Right to acquire own shares 732.415Stock insurer’s proxies; regulation by director; rules 732.420“Equity security” defined; rules 732.425Application of insider trading regulation 732.430Filing statement of security ownership with director; rules 732.435Suit to recover insider profits; exempted transactions; rules 732.440Prohibited sales of securities 732.445Establishing or maintaining primary or secondary market in securities; rules 732.450Arbitrage transactions exempt; rules 732.455Rules 732.460Annual report to shareholders or members; rules 732.465Members of domestic mutual insurers 732.470Voting rights of members of mutual insurer 732.475Members’ meetings and procedures of domestic mutual and reciprocal insurers 732.480Copy of bylaws of domestic mutual insurer to be provided to director; provisions of bylaws 732.505[Formerly 738.610; 1969 c.336 §7; 1983 c.498 §1; repealed by 1993 c.447 §122] 732.510[1967 c.359 §195; 1969 c.336 §8; 1983 c.498 §2; repealed by 1993 c.447 §122] 732.515[1967 c.359 §196; 1983 c.498 §3; repealed by 1993 c.447 §122] 732.517Purpose of ORS 732.517 to 732.546 732.518Definitions for ORS 732.517 to 732.546 732.520[1967 c.359 §197; repealed by 1993 c.447 §122] 732.521Activities that are prohibited unless specified procedures followed; exceptions; notice of divestiture 732.522[1983 c.498 §6; repealed by 1993 c.447 §122] 732.523Procedure for acquiring controlling interest of capital stock; filing of statement; contents; request for hearing 732.525[1967 c.359 §198; 1983 c.498 §7; repealed by 1993 c.447 §122] 732.526Hearing on proposed activity; notice 732.527Approval of acquisition by chief insurance regulatory officials of two or more jurisdictions; hearing 732.528Approval of proposed activity; grounds for refusing approval 732.529Procedures following approval by director of proposed activity 732.530[1967 c.359 §199; repealed by 1993 c.447 §122] 732.531Acquisition of assets or insurance of mutual or reciprocal insurers 732.533Statement of acquisition 732.535[1967 c.359 §200; 1983 c.498 §10; 1993 c.447 §30; renumbered 732.526 in 1993] 732.536Compliance with foreign or alien laws 732.537Application of ORS 732.527, 732.539, 732.542 and 732.544 to change of control of insurer; exemptions 732.538Effect of merger or consolidation 732.539Notification of acquisition; confidentiality; order; rules; required information; waiting period 732.540[1967 c.359 §201; 1979 c.562 §32; 1983 c.498 §11; 1993 c.447 §31; renumbered 732.528 in 1993] 732.541Jurisdiction over person obtaining or attempting to obtain control 732.542Monopoly or substantial diminishment of competition; director’s order; prima facie and substantial evidence; determination of scope and extent of market 732.543[Formerly 732.590; renumbered 732.547 in 2013] 732.544Director’s order; effect; requirements for issuing; penalties 732.545[1967 c.359 §202; 1973 c.515 §2; 1981 c.633 §81; 1983 c.498 §12; 1987 c.846 §10; repealed by 1993 c.447 §122] 732.546Severability 732.547Remedies for violation of ORS 732.517 to 732.546 732.548Definitions for ORS 732.517 to 732.596 732.549Subsidiaries 732.550[1967 c.359 §203; 1993 c.447 §32; renumbered 732.531 in 1993] 732.551Registration of insurer members of holding company systems 732.552Registration statement; form; contents 732.553Certain information not required to be disclosed 732.554Changes in registration information; reports of distributions to shareholders 732.555[1967 c.359 §204; repealed by 1993 c.447 §122] 732.556Requirement that certain persons provide information to insurers 732.558Termination of registration by director 732.560[1967 c.359 §205; 1983 c.498 §13; 1993 c.447 §34; renumbered 732.536 in 1993] 732.562Consolidated registration 732.564Registration for affiliated insurers 732.565[1967 c.359 §206; repealed by 1993 c.447 §122] 732.566Exemption from ORS 732.517 to 732.596 by director 732.567Presumption of control; rebuttal; hearing 732.568Disclaimer of affiliation; contents; subsequent duty to register; disallowance of disclaimers by director 732.569Annual enterprise risk report; contents; group capital calculation; filing deadlines and responsibility; exemptions; NAIC liquidity stress framework; requirements; rules 732.570[1967 c.359 §207; 1987 c.846 §11; renumbered 732.538 in 1993] 732.571Supervisory college for domestic insurer; purpose; director’s powers; payment of expenses 732.572Rulemaking authority for ORS 732.517 to 732.596 732.574Standards for transactions within holding company; notice; deposit or bond for protection of insurer; records and data of affiliate 732.575[1983 c.498 §15; repealed by 1993 c.447 §122] 732.576Dividends and distributions 732.578Liability of officers and directors of insurer that is subject to registration; allowance for common management; qualifications of directors; exemptions; waiver 732.580[1983 c.498 §16; 1993 c.447 §35; renumbered 732.541 in 1993] 732.582Determination of reasonableness and adequacy of capital and surplus 732.584Examinations; penalty; costs 732.585[1983 c.498 §17; repealed by 1993 c.447 §122] 732.586Confidentiality of information; permitted disclosures; prohibition on publication 732.588Supervision, rehabilitation or liquidation 732.590[1983 c.498 §18; 1993 c.447 §36; renumbered 732.543 in 1993] 732.592Recovery from parent corporation or holding company if domestic insurer ordered into liquidation or rehabilitation 732.594Director’s determination or acknowledgment of appropriate group-wide supervisor for internationally active insurance group; requirement for insurer to produce needed information; director’s powers; cooperation with other regulatory officials 732.595[1983 c.498 §19; renumbered 732.546 in 1993] 732.596Request by insurance holding company system for determination or acknowledgement of group-wide supervisor 732.597[1985 c.327 §2; 1993 c.447 §110; repealed by 1997 c.771 §28] 732.598[1985 c.327 §3; repealed by 1997 c.771 §28] 732.599[1985 c.327 §4; 1993 c.447 §111; repealed by 1997 c.771 §28] 732.600Definitions for ORS 732.600 to 732.630 732.602Intent of ORS 732.600 to 732.630 732.604Permissible actions of domestic mutual insurer; rules 732.605[1971 c.373 §2; 1993 c.447 §23; renumbered 732.548 in 1993] 732.606Plan for conversion or reorganization; documents filed; approval by director and members 732.608Waiver of requirements of ORS 732.606 732.610Contents of plan 732.611Eligible member of domestic mutual insurer or mutual holding company; record date 732.612Consideration for membership interest in converting or reorganizing mutual insurer; kinds of consideration; allocation of consideration 732.614Effect of conversion 732.615[1971 c.373 §3; 1981 c.247 §8; 1993 c.447 §37; renumbered 732.551 in 1993] 732.616Reorganization involving organization of stock holding company; subsidiaries 732.618Reorganization involving organization of mutual holding company; subsidiaries 732.620Status of mutual holding company as corporation; status as insurer; rights and obligations of members; voting; articles of incorporation 732.622Restructuring of mutual holding company 732.624Approval by Director of Department of Consumer and Business Services of mutual holding company restructuring plan; approval by members; effect of restructuring 732.625[1971 c.373 §4; 1993 c.447 §38; renumbered 732.552 in 1993] 732.626Plan review and approval; general provisions 732.628Limitations on ownership of shares in companies resulting from conversion, reorganization or restructuring 732.630Dissenters’ rights; action challenging validity of conversion, reorganization or restructuring 732.635[1971 c.373 §5; 1993 c.447 §39; renumbered 732.553 in 1993] 732.645[1971 c.373 §6; 1993 c.447 §40; renumbered 732.554 in 1993] 732.650Definitions 732.653Scope; requirements and guidance 732.655[1971 c.373 §7; renumbered 732.558 in 1993] 732.656Risk management framework 732.659Own risk and solvency assessment in accordance with manual 732.662Own risk and solvency summary report; attestation 732.665[1971 c.373 §8; 1993 c.447 §42; renumbered 732.562 in 1993] 732.666Exemptions; director’s requirements 732.669Documentation and supporting information; director’s review 732.672Confidentiality; permissible disclosures; agreement with National Association of Insurance Commissioners 732.675[1971 c.373 §9; 1993 c.447 §43; renumbered 732.564 in 1993] 732.680Submission of corporate governance annual disclosure; determination of lead state; signature and attestation; level of disclosure permitted; review; rules 732.683Discretion as to form and content of responses to inquiries in corporate governance annual disclosure; documentation and supporting information 732.685[1971 c.373 §10; 1993 c.447 §44; renumbered 732.566 in 1993] 732.686Maintenance of confidentiality and privilege; permitted disclosures; waivers 732.689Retention of consultant to assist director’s review of corporate governance annual disclosure; consultant’s qualifications and duties; agreement with consultant 732.695[1971 c.373 §11; 1993 c.447 §45; renumbered 732.568 in 1993] 732.705[1971 c.373 §12; 1993 c.447 §46; renumbered 732.572 in 1993] 732.810Definitions for ORS 732.810 to 732.814 732.811Application of ORS 732.810 to 732.814 732.812Filing of financial statements; contract requirements; audit; reports to director 732.813Notice to prospective insured 732.814Authority of director over controlling producer and controlled insurer 732.820Interstate Insurance Product Regulation Compact 732.825State member of Interstate Insurance Product Regulation Commission 732.990[Repealed by 1967 c.359 §704]

Chapter 732 — Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally

ORS 732.582 Determination of reasonableness and adequacy of capital and surplus

For purposes of ORS 732.517 to 732.596, in order to determine whether the combined capital and surplus is reasonable in relation to the outstanding liabilities of the insurer and adequate to its financial needs, the Director of the Department of Consumer and Business Services must consider at least the applicable factors stated in ORS 731.554 for determining the reasonableness and adequacy of the insurer’s capital and surplus.

EXAMINATIONS, CONFIDENTIALITY, REGULATORY POWERS

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Version history

Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.