ORS § 732.608

Current through 2024 Regular Session legislation effective April 17, 2024

Section 732.608 - Waiver of requirements of ORS 732.606

The Director of the Department of Consumer and Business Services may waive the requirements of ORS 732.606 if:

(1) The director determines that a domestic mutual insurer is in hazardous financial condition according to standards established under ORS 731.385 or if a rehabilitation or liquidation proceeding or an administrative supervision proceeding has been instituted against the insurer; and

(2) The director determines that the transfer of the policies is in the best interests of the policyholders.

ORS 732.608

1997 c.771 §16