Oregon § 732.608 Waiver of requirements of ORS 732.606

Oregon Statutes

§ 732.608 — Waiver of requirements of ORS 732.606

Oregon § 732.608

Vol.18

Title 56Insurance

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

This text of Oregon § 732.608 (Waiver of requirements of ORS 732.606) 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. § 732.608 (2026).

Text

The Director of the Department of Consumer and Business Services may waive the requirements of ORS 732.606 if:

(1)The director determines that a domestic mutual insurer is in hazardous financial condition according to standards established under ORS 731.385 or if a rehabilitation or liquidation proceeding or an administrative supervision proceeding has been instituted against the insurer; and

(2)The director determines that the transfer of the policies is in the best interests of the policyholders.

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The Director of the Department of Consumer and Business Services may waive the requirements of ORS 732.606 if:
(1) The director determines that a domestic mutual insurer is in hazardous financial condition according to standards established under ORS 731.385 or if a rehabilitation or liquidation proceeding or an administrative supervision proceeding has been instituted against the insurer; and
(2) The director determines that the transfer of the policies is in the best interests of the policyholders.