Or. Admin. Code § 836-050-0280

Current through Register Vol. 63, No. 11, November 1, 2024

Section 836-050-0280 - Credit Unions as Association; Group Health Insurance

A credit union organized under ORS chapter 723, a credit union authorized to conduct business as a credit union in this state under 723.042 or a federal credit union the principal office of which is located in Oregon is considered to have a constitution and bylaws and to be maintained primarily for purposes other than the procurement of insurance. Such a credit union may qualify as an association for the purposes of being the policyholder of a group health insurance policy if:

(1) The credit union is authorized to be such a policyholder under the laws under which the credit union is organized; and

(2) The Director determines that the credit union otherwise satisfies the requirements of ORS 743.522(2).

Or. Admin. Code § 836-050-0280

ID 17-1990, f. & cert. ef. 7-25-90; ID 7-1994, f. & cert. ef. 6-3-94

Stat. Auth.: ORS 731 & 743

Stats. Implemented: ORS 743.522 & 743.524