Oregon § 465.481 General liability insurance policies; assignment

Oregon Statutes

§ 465.481 — General liability insurance policies; assignment

Oregon § 465.481

Vol.13

Title 36AHousing; Lottery and Games; Environment

Ch. 465Hazardous Waste and Hazardous Materials I

This text of Oregon § 465.481 (General liability insurance policies; assignment) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 465.481 (2026).

Text

(1)A general liability insurance policy that contains a provision that requires the consent of an insurance company before the rights under an insurance policy may be assigned may not prohibit the assignment without consent of an environmental claim for payment under the policy for losses or damages that commenced prior to the assignment. The assignment and any release or covenant given for the assignment may not extinguish the cause of action against the insurer unless the assignment specifically so provides.

(2)The provisions of this section apply without limitation to voluntary assignments, assignments made in settlement of an environmental claim against a policyholder, assignments made as a matter of law and assignments made in the course of a corporate insured reorganization, merger

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(1) A general liability insurance policy that contains a provision that requires the consent of an insurance company before the rights under an insurance policy may be assigned may not prohibit the assignment without consent of an environmental claim for payment under the policy for losses or damages that commenced prior to the assignment. The assignment and any release or covenant given for the assignment may not extinguish the cause of action against the insurer unless the assignment specifically so provides.
(2) The provisions of this section apply without limitation to voluntary assignments, assignments made in settlement of an environmental claim against a policyholder, assignments made as a matter of law and assignments made in the course of a corporate insured reorganization, merger, acquisition or liquidation.