Oregon § 732.480 Copy of bylaws of domestic mutual insurer to be provided to director; provisions of bylaws

Oregon Statutes

§ 732.480 — Copy of bylaws of domestic mutual insurer to be provided to director; provisions of bylaws

Oregon § 732.480

Vol.18

Title 56Insurance

Ch. 732Organization and Corporate Procedures of Domestic Insurers; Regulation of

This text of Oregon § 732.480 (Copy of bylaws of domestic mutual insurer to be provided to director; provisions of bylaws) 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. § 732.480 (2026).

Text

A copy of the bylaws of a domestic mutual insurer, including any amendments, shall be provided to the Director of the Department of Consumer and Business Services. The bylaws of a mutual insurer may contain any provision for managing the business and regulating the affairs of the insurer that is not inconsistent with law or the articles of incorporation. The bylaws shall contain a provision that governs the involvement of the mutual insurer in a member’s communication with other members regarding the business and affairs of the insurer. The bylaws may contain a provision eliminating or limiting the personal liability of a member of the board of directors to the mutual insurer or its members for monetary damages for conduct as a director, provided that no such provision may eliminate or lim

Free access — add to your briefcase to read the full text and ask questions with AI

A copy of the bylaws of a domestic mutual insurer, including any amendments, shall be provided to the Director of the Department of Consumer and Business Services. The bylaws of a mutual insurer may contain any provision for managing the business and regulating the affairs of the insurer that is not inconsistent with law or the articles of incorporation. The bylaws shall contain a provision that governs the involvement of the mutual insurer in a member’s communication with other members regarding the business and affairs of the insurer. The bylaws may contain a provision eliminating or limiting the personal liability of a member of the board of directors to the mutual insurer or its members for monetary damages for conduct as a director, provided that no such provision may eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision becomes effective and no such provision may eliminate or limit the liability of a director for:
(1) Any breach of the director’s duty of loyalty to the mutual insurer or its members;
(2) Acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;
(3) Any unlawful distribution; or
(4) Any transaction from which the director derived an improper personal benefit.