Oregon Law
Law as of Jan 1, 2026
Chapter contents
734.010[1967 c.359 §258; repealed by 1993 c.447 §122] 734.014Definitions 734.018[Formerly 751.010; and then 734.030 in 1989; repealed by 1993 c.447 §122] 734.020[1967 c.359 §257; renumbered 734.014 in 1989] 734.022[Formerly 734.040; repealed by 1993 c.447 §122] 734.026“Domiciliary,” “ancillary” and “reciprocal state” defined 734.030[Formerly 751.010; renumbered 734.018 in 1989] 734.031[Formerly 734.060; repealed by 1993 c.447 §122] 734.035[Formerly 734.070; repealed by 1993 c.447 §122] 734.039[Formerly 734.080; repealed by 1993 c.447 §122] 734.040[1967 c.359 §260; renumbered 734.022 in 1989] 734.043Supervision of insurer; order; consequences; insurer remedies 734.047Time for correction of condition leading to order of supervision 734.050[1967 c.359 §261; renumbered 734.026 in 1989] 734.051Actions by director during period of supervision 734.055Action against person violating order of supervision 734.059Request for court order 734.060[1967 c.359 §262; renumbered 734.031 in 1989] 734.063Court order; hearings; notice 734.067Review of court order 734.070[1967 c.359 §263; renumbered 734.035 in 1989] 734.080[1967 c.359 §264; renumbered 734.039 in 1989] 734.110Jurisdiction of delinquency proceedings; venue 734.113Application of Oregon Receivership Code 734.120Exclusive remedy; appeal 734.130Commencement of delinquency proceeding 734.140Injunctions 734.142Cooperation with director in delinquency proceedings 734.144Immunity of certain persons from civil liability 734.150Grounds for rehabilitation of domestic insurers 734.160Order of rehabilitation for domestic insurers 734.170Grounds for liquidation of domestic insurers 734.180Order of liquidation of domestic insurers 734.190Grounds for conservation of foreign and alien insurers 734.200Conservation or ancillary receivership of foreign and alien insurers 734.210Conduct of delinquency proceedings for domestic insurers 734.220Powers of director as receiver 734.230Deputies and assistants 734.240Conduct of delinquency proceedings for foreign insurers 734.250Right of domiciliary receiver to sue in this state 734.260Claims of nonresidents against domestic insurers 734.270Claims of residents against foreign insurers 734.280Form of claim; notice; hearing 734.290Priority of preferred claims 734.300Priority of special deposit claims 734.310Priority of secured claims 734.320Attachment and garnishment of assets 734.330[Formerly 751.110; repealed by 1993 c.447 §122] 734.340Date rights fixed on liquidation 734.350Voidable transfers 734.360Preference of claims 734.370Offsets 734.380Allowance of certain claims 734.385Rights and obligations of Federal Home Loan Bank in connection with delinquency proceeding against insurer 734.390Time to file claims 734.400Report for assessment; domestic mutual and reciprocal insurers 734.410Levy of assessment; domestic mutual and reciprocal insurers 734.420Order to pay assessment 734.430Publication and transmittal of assessment order 734.440Judgment upon assessment 734.510Definitions for ORS 734.510 to 734.710 734.520Purpose 734.530Construction 734.540Application 734.550Oregon Insurance Guaranty Association; all insurers required to be members; formation of operating plan 734.555Application to association of certain laws governing corporations; exception 734.560Association board of directors; terms; vacancies; compensation and expenses; quorum 734.570Duties and functions of association 734.575Refunds from association deposited in General Fund 734.577[1987 c.582 §1; 1991 c.67 §196; 2003 c.14 §448; repealed by 2005 c.755 §59] 734.579Recoupment assessments; rules 734.580Discretionary functions of association 734.590Plan of operation; submission to director; rules 734.600Contents of plan of operation 734.610Notification to association of insurer insolvency; furnishing association with premium information 734.620Notification of insolvency to insured persons; revocation of designation of servicing facility 734.630Assignment of claim rights; filing statements of paid claims; effect of claim settlements 734.635Disbursing assets of insolvent insurer to association; court approval; notice to other states 734.640Exhaustion of coverage under policy before making claim against association; priority of claims 734.645Liability of Oregon Insurance Guaranty Association when member insurer is subject to liquidation after assuming sole responsibility for insurance policy that other member issued; exception 734.650Notifying director of impaired insurers; examination; reports on impaired insurers 734.660Regulation of association as insurer 734.670Exemption of association from payment of fees and taxes 734.680[1971 c.616 §20; repealed by 1977 c.793 §11] 734.690Immunity from legal action 734.695Liability of insured of insolvent insurer 734.700Defense of claims on default of insolvent insurer 734.710Administration of delinquency proceeding claims and expenses; application of ORS 734.014, 734.026 and 734.110 to 734.440 to insurers 734.750Short title 734.760Definitions for ORS 734.750 to 734.890 734.770Purpose 734.780Construction 734.790Application 734.800Oregon Life and Health Insurance Guaranty Association; required members; required accounts 734.805Association board of directors; terms; selection; vacancies; compensation and expenses 734.810Duties and powers of association; termination of obligations; limit of obligations 734.815Assessment of members; classes of assessments; amounts; refunds 734.820Plan of operation; submission of amendments to director; rules; contents of plan 734.825Powers and duties of director 734.830Notifying director of impaired insurers; examination; reports on impaired insurers 734.835Assessments offset against tax liabilities; rate 734.840Conduct of liquidation, rehabilitation or conservation proceeding involving impaired or insolvent insurer 734.850Examination and regulation of association by director; required reports 734.860Exemption of association from payment of fees and taxes 734.870Immunity from legal action 734.880Stay of proceeding involving insolvent insurer 734.890Association not to be used in sales or solicitation

Chapter 734 — Rehabilitation, Liquidation and Conservation of Insurers

ORS 734.560 Association board of directors; terms; vacancies; compensation and expenses; quorum

(1)

The board of directors of the Oregon Insurance Guaranty Association shall consist of nine members selected by the member insurers, subject to the approval of the Director of the Department of Consumer and Business Services. The term of each member of the board shall be as specified in the plan, but in no event for longer than four years. A vacancy on the board shall be filled for the remainder of the unexpired term in the same manner as for the initial selection. If the initial selection of members is not made within 60 days after September 9, 1971, the director may select the initial members.

(2)

In making or approving selections to the board, the director shall consider, among other things, whether member insurers are fairly represented.

(3)

A member of the board shall receive no compensation for services as a member. However, a member shall be reimbursed by the association for actual and necessary travel and other expenses incurred by the member in the performance of duties.

(4)

A majority of the members of the board constitutes a quorum for the transaction of business.

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Provenance

Version history

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