Oregon Statutes
§ 744.308 — Limitations on authority of insurer and managing general agent
Oregon § 744.308
This text of Oregon § 744.308 (Limitations on authority of insurer and managing general agent) 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. § 744.308 (2026).
Text
(1)An insurer shall not allow a managing general agent, without prior approval of the insurer, to pay or commit the insurer to pay a claim over the amount, net of reinsurance, specified in the contract under ORS 744.306. The amount established in the contract shall not exceed one percent of the insurer’s policyholder surplus as of December 31 of the last completed calendar year.
(2)Neither an insurer nor a managing general agent may allow a subagent of the managing general agent to serve on the board of directors of the insurer.
(3)An insurer and a managing general agent may not jointly employ any individual.
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Related
§ 744.306
Oregon § 744.306
Legislative History
1991 c.495 §6
Nearby Sections
15
Cite This Page — Counsel Stack
Bluebook (online)
Oregon § 744.308, Counsel Stack Legal Research, https://law.counselstack.com/statute/or/744.308.