Oregon § 735.420 Declaration of ineligibility of surplus lines insurer

Oregon Statutes

§ 735.420 — Declaration of ineligibility of surplus lines insurer

Oregon § 735.420

Vol.18

Title 56Insurance

Ch. 735Alternative Insurance

This text of Oregon § 735.420 (Declaration of ineligibility of surplus lines insurer) 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. § 735.420 (2026).

Text

(1)The Director of the Department of Consumer and Business Services may declare a surplus lines insurer described in ORS 735.415 (1) ineligible if the director has reason to believe that the surplus lines insurer:

(a)Is in unsound financial condition;

(b)Is no longer eligible under ORS 735.415;

(c)Has willfully violated the laws of this state; or

(d)Does not make reasonably prompt payment of just losses and claims in this state or elsewhere.

(2)The director shall promptly mail notice of all such declarations to each surplus lines licensee.

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(1) The Director of the Department of Consumer and Business Services may declare a surplus lines insurer described in ORS 735.415 (1) ineligible if the director has reason to believe that the surplus lines insurer:
(a) Is in unsound financial condition;
(b) Is no longer eligible under ORS 735.415;
(c) Has willfully violated the laws of this state; or
(d) Does not make reasonably prompt payment of just losses and claims in this state or elsewhere.
(2) The director shall promptly mail notice of all such declarations to each surplus lines licensee.