Or. Admin. Code § 836-024-0130

Current through Register Vol. 63, No. 12, December 1, 2024

Section 836-024-0130 - Exemptions from ORS 732.430 and 732.435

(1) Securities held by the following persons are exempt from ORS 732.430 and 732.435 for 12 months following the date of the person's appointment and qualification:

(a) An executor or administrator of the estate of a decedent;

(b) A guardian or committee for an incompetent; and

(c) A receiver, trustee in bankruptcy, assignor for the benefit of creditors, conservator, liquidating agent or other similar person authorized by law to administer the estate or assets of other persons.

(2) After the 12-month period following the appointment of a person to whom section (1) of this rule applies:

(a) The person shall file a statement under ORS 732.430 with respect to the securities held by the estates that the person administers; and

(b) The person is liable for profits realized from trading in the securities pursuant to ORS 732.435 only when the estate being administered is a beneficial owner of more than ten percent of any class of equity security of an insurer subject to 732.430 and 732.435.

(3) Securities reacquired by or for the account of an insurer and held by it for its account are exempt from ORS 732.430 and 732.435 while they are held by the insurer.

Or. Admin. Code § 836-024-0130

ID 16-2006, f. & cert. ef. 8-7-06

Stat. Auth: ORS 731.244, 732.420, 732.430, 732.435, 732.445, 732.450, 732.455

Stats. Implemented: ORS 732.420 - 732.455