Oregon § 734.059 Request for court order

Oregon Statutes

§ 734.059 — Request for court order

Oregon § 734.059

Vol.18

Title 56Insurance

Ch. 734Rehabilitation, Liquidation and Conservation of Insurers

This text of Oregon § 734.059 (Request for court order) 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. § 734.059 (2026).

Text

(1)The Director of the Department of Consumer and Business Services may file a petition with the circuit court requesting an order that:

(a)Authorizes the director to seize all or part of the property, books, accounts and other records of a domestic insurer as well as the premises occupied by the insurer for transacting its business; and

(b)Enjoins the domestic insurer from disposing of its property and transacting business except as allowed by written consent of the director.

(2)The director must include all of the following in the petition under subsection (1) of this section:

(a)An allegation that one or more grounds exist that would justify a court order for a rehabilitation or liquidation proceeding against the insurer.

(b)An allegation that the interests of policyholders, credi

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(1) The Director of the Department of Consumer and Business Services may file a petition with the circuit court requesting an order that:
(a) Authorizes the director to seize all or part of the property, books, accounts and other records of a domestic insurer as well as the premises occupied by the insurer for transacting its business; and
(b) Enjoins the domestic insurer from disposing of its property and transacting business except as allowed by written consent of the director.
(2) The director must include all of the following in the petition under subsection (1) of this section:
(a) An allegation that one or more grounds exist that would justify a court order for a rehabilitation or liquidation proceeding against the insurer.
(b) An allegation that the interests of policyholders, creditors or the public will be endangered by delay.
(c) The contents of the order that the director requests the court to issue.