ORS Chapter 732

Chapter 732 — Organizationand Corporate Procedures of Domestic Insurers;

 Regulation ofInsurers Generally

2009 EDITION

DOMESTICINSURERS

INSURANCE

GENERALPROVISIONS

732.005 Applicationof private corporation law; definitions

ORGANIZATION

732.015 Permitto organize insurer required

732.025 Applicationfor permit to organize stock insurer; rules

732.035 Applicationfor permit to organize insurer without capital stock

732.045 Investigationof applications to organize insurers

732.055 Approvalor disapproval of application for permit

732.065 Reportingof changes in information in application

732.075 Revokingor suspending permit to organize insurer

732.085 Incorporators

732.095 Articlesof incorporation

732.105 Filingarticles of incorporation and surety bond, letter of credit or deposit

732.115 Approvalof articles, documents and bond, letter of credit or deposit; certificate ofincorporation

732.125 Registrationof securities subsequent to issuance of organization permit and certificate ofincorporation

732.135 Solicitingsubscriptions and applications

732.145 Stipulationsrequired in subscriptions and applications; disposition of subscribed funds

732.155 Organizationto be completed within two years; policies to be issued within one year ofcertification

732.165 Liabilityof directors and incorporators

732.175 Liabilityfor acting as corporate insurer without authority

CORPORATEPROCEDURES GENERALLY

732.205 Generalpowers of insurers

732.210 Assertionof lack of capacity or power

732.215 Managementcontracts prohibited

732.220 Exclusiveagency contracts

732.225 Impairmentof required capitalization prohibited; rules

732.230 Orderto cure impairment; confidentiality of order

732.235 Voluntarydissolution of insurer

732.240 Trustsof life insurance proceeds

732.245 Homeoffice; records, assets; unlawful removal; rules

732.250 Continuityof management in event of national emergency

DIRECTORS,OFFICERS AND EMPLOYEES

732.305 Boardof directors; qualifications

732.320 Supportingdocuments for expenditures

732.325 Certaintransactions and compensation between insurers and directors, trustees,officers, agents or employees prohibited; other prohibited conduct

SHARES,SHAREHOLDERS AND MEMBERS

(GeneralProvisions)

732.405 Authorizedshares

732.410 Rightto acquire own shares

732.415 Stockinsurer’s proxies; regulation by director; rules

(InsiderTrading)

732.420 “Equitysecurity” defined; rules

732.425 Applicationof insider trading regulation

732.430 Filingstatement of security ownership with director; rules

732.435 Suitto recover insider profits; exempted transactions; rules

732.440 Prohibitedsales of securities

732.445 Establishingor maintaining primary or secondary market in securities; rules

732.450 Arbitragetransactions exempt; rules

732.455 Rules

(Shareholdersand Members)

732.460 Annualreport to shareholders or members; rules

732.465 Membersof domestic mutual insurers

732.470 Votingrights of members of mutual insurer

732.475 Members’meetings and procedures of domestic mutual and reciprocal insurers

732.480 Copyof bylaws of domestic mutual insurer to be provided to director; provisions ofbylaws

ACQUISITIONSAND MERGERS

732.517 Purposeof ORS 732.517 to 732.546

732.518 Definitionsfor ORS 732.517 to 732.546

732.521 Activitiesthat are prohibited unless specified procedures followed; exceptions

732.523 Procedurefor acquiring controlling interest of capital stock; filing of statement;request for hearing

732.526 Hearingon proposed activity; notice

732.528 Approvalof proposed activity; grounds for refusing approval

732.529 Proceduresfollowing approval by director of proposed activity

732.531 Acquisitionof assets or insurance of mutual or reciprocal insurers

732.533 Statementof acquisition

732.536 Compliancewith foreign or alien laws

732.538 Effectof merger or consolidation

732.541 Jurisdictionover person obtaining or attempting to obtain control

732.543 Remediesfor violation of ORS 732.517 to 732.546

732.546 Severability

INSURANCEHOLDING COMPANY REGISTRATION

732.548 Definitionsfor ORS 732.517 to 732.592

732.549 Subsidiaries

732.551 Registrationof insurer members of holding company systems

732.552 Registrationstatement; form; contents

732.553 Certaininformation not required to be disclosed

732.554 Changesin registration information; reports of distributions to shareholders

732.556 Requirementthat certain persons provide information to insurers

732.558 Terminationof registration by director

732.562 Consolidatedregistration

732.564 Registrationfor affiliated insurers

732.566 Exemptionfrom ORS 732.517 to 732.592 by director

732.568 Disclaimerof affiliation; contents; subsequent duty to register; disallowance ofdisclaimers by director

732.572 Rulemakingauthority for ORS 732.517 to 732.592

STANDARDSAND MANAGEMENT OF INSURER WITHIN AN INSURANCE HOLDING COMPANY SYSTEM

732.574 Standardsfor transactions within holding company; notice

732.576 Dividendsand distributions

732.578 Effectof control of insurer subject to registration on director and officer liability

732.582 Determinationof reasonableness and adequacy of capital and surplus

EXAMINATIONS,CONFIDENTIALITY, REGULATORY POWERS

732.584 Examinations

732.586 Confidentialityof information; permitted disclosures

732.588 Supervision,rehabilitation or liquidation

732.592 Recoveryfrom parent corporation or holding company if domestic insurer ordered intoliquidation or rehabilitation

CONVERSIONOR REORGANIZATION OF DOMESTIC MUTUAL INSURER

732.600 Definitionsfor ORS 732.600 to 732.630

732.602 Intentof ORS 732.600 to 732.630

732.604 Permissibleactions of domestic mutual insurer; rules