Oregon § 734.800 Oregon Life and Health Insurance Guaranty Association; required members; required accounts

Oregon Statutes

§ 734.800 — Oregon Life and Health Insurance Guaranty Association; required members; required accounts

Oregon § 734.800

Vol.18

Title 56Insurance

Ch. 734Rehabilitation, Liquidation and Conservation of Insurers

This text of Oregon § 734.800 (Oregon Life and Health Insurance Guaranty Association; required members; required accounts) 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. § 734.800 (2026).

Text

(1)There is created a nonprofit legal entity to be known as the Oregon Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under ORS 734.820, and shall exercise its powers through a board of directors established under ORS 734.805. For purposes of administration and assessment, the association shall maintain three accounts:

(a)The health insurance account, composed of the following subaccounts:

(A)The disability insurance subaccount;

(B)The long term care insurance subaccount; and

(C)The major medical and all other health insurance subaccount;

(b)The life i

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(1) There is created a nonprofit legal entity to be known as the Oregon Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under ORS 734.820, and shall exercise its powers through a board of directors established under ORS 734.805. For purposes of administration and assessment, the association shall maintain three accounts:
(a) The health insurance account, composed of the following subaccounts:
(A) The disability insurance subaccount;
(B) The long term care insurance subaccount; and
(C) The major medical and all other health insurance subaccount;
(b) The life insurance account; and
(c) The annuity account.
(2) The association shall come under the immediate supervision of the Director of the Department of Consumer and Business Services and shall be subject to the applicable provisions of the insurance laws of this state.