Section 732.518 - Definitions for ORS 732.517 to 732.546As used in ORS 732.517 to 732.546:
(1) "Acquiring party" means a person that acquires or attempts to acquire control of a domestic insurer as described in ORS 732.521(1)(a), that enters into an agreement to merge with or otherwise acquire control of a domestic insurer as described in ORS 732.521(1)(b) or that engages in an activity described in ORS 732.521(1)(c), or an intermediary or subsidiary corporation that holds, directly or indirectly, the assets or voting securities or assumes the liabilities of an insurer or other corporation.(2) "Acquisition" means an agreement, arrangement or activity that results in a person acquiring control of another person, directly or indirectly, including but not limited to an acquisition of voting securities, a merger, an acquisition of assets or bulk reinsurance.(3) "Domestic insurer" means an insurer formed under the laws of this state or a person that controls an insurer formed under the laws of this state.(4) "Significant portion" means, when acquired in one transaction or in a related or integrated series of transactions within any 12 consecutive month period, 10 percent or more of: (a) The assets of the insurer; or(b) The insurer's insurance or major class of insurance in force.Amended by 2013 Ch. 370,§ 17, eff. 6/13/2013, op. 1/2/2014.