§ 735.330 — Purchasing groups; notice of intent to do business; registration; exceptions

Oregon § 735.330

• Jurisdiction: Oregon
• Vol.: 18
• Title 56: Insurance
• Ch. 735: Alternative Insurance

Text

(1) A purchasing group that intends to do business in this state shall furnish notice to the director, which shall:
(a) Identify the state in which the group is domiciled;
(b) Specify the lines and classifications of liability insurance that the purchasing group intends to purchase;
(c) Identify the insurer from which the group intends to purchase its insurance and the domicile of the insurer;
(d) Identify the principal place of business of the group; and
(e) Provide such other information as may be required by the director to verify that the purchasing group is qualified under ORS 735.305 (10).
(2) The purchasing group shall register with the director and designate the director as its agent solely for the purpose of receiving service of legal documents or process, except that such requirements shall not apply in the case of a purchasing group that meets the following qualifications:
(a) That:
(A) Was domiciled before April 1, 1986, in any state; and
(B) Is domiciled on and after October 27, 1986, in any state;
(b) That:
(A) Before October 27, 1986, purchased insurance from an insurance carrier licensed in any state; and
(B) On and after October 27, 1986, purchased insurance from an insurance carrier licensed in any state;
(c) That was a purchasing group under the requirements of the federal Product Liability Risk Retention Act of 1981, as amended by the Risk Retention Amendments of 1986, before October 27, 1986; and
(d) That does not purchase insurance that was not authorized for purposes of an exemption under the federal Product Liability Risk Retention Act of 1981, as in effect before October 27, 1986.

Legislative History

1987 c.774 §104