reglab/housing_qa huggingface dataset:
OR Rev Stat § 732.584 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.584 - Examinations; penalty; costs.

(1)(a) In addition to other powers that the Director of the Department of Consumer and Business Services has under the Insurance Code to examine and investigate insurers, the director may also order any insurer registered under ORS 732.517 to 732.596 to produce books, records, accounts, papers, documents and computer and other recordings the insurer or the insurer’s affiliates have that are necessary for the director to ascertain the insurer’s financial condition or to determine the insurer’s compliance with the Insurance Code. If the insurer fails to comply with the director’s order, the director may examine the affiliates to obtain the information the director requires. (b) In examining the insurer’s financial condition, the director may determine the extent to which the person that controls the insurer, the insurance holding company system or an entity within the insurance holding company system may cause enterprise risk to the insurer. (c) In determining compliance with the Insurance Code, the director may order an insurer that is registered under ORS 732.517 to 732.596 to produce information the insurer does not possess but to which the insurer might have access by reason of a contractual relationship or a statutory obligation or by other means. If the insurer cannot obtain the information the director requires, the insurer shall provide the director with a detailed explanation of the reason the insurer cannot obtain the information and shall identify the person that possesses the information. If the director finds that the insurer’s explanation is without merit, the director may impose a civil penalty on the insurer under ORS 731.988 or may suspend or revoke the insurer’s certificate of authority. (2) ORS 731.302 (2) applies to an examination the director conducts under subsection (1) of this section, and an insurer shall otherwise pay the costs of an examination of the insurer under this section as provided in ORS 731.316. [1993 c.447 §51; 2013 c.370 §29]
OR Rev Stat § 732.588 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.588 - Supervision, rehabilitation or liquidation.

(1) If the Director of the Department of Consumer and Business Services determines that a person’s violation of any provision of ORS 732.517 to 732.596 so impairs the financial condition of a domestic insurer as to threaten insolvency or makes the insurer’s further transaction of business hazardous to the insurer’s policyholders, creditors, shareholders or the public, the director may place the insurer under supervision or in rehabilitation or liquidation as provided in ORS chapter 734. (2) If the director determines that a person’s violation of ORS 732.521, 732.523, 732.526, 732.541 or 732.566 prevents the director from fully understanding the enterprise risk that an insurance holding company system or an affiliate of an insurer presents to the insurer, the director may, on the basis of the violation, disapprove a dividend or distribution and may place the insurer under supervision as provided in subsection (1) of this section. (3) If the director places an insurer under supervision as provided in ORS chapter 734 and the insurer engages in transactions within an insurance holding company system as provided in ORS 732.574, the director retains authority over the insurer’s operations and over transactions in which the insurer engages within an insurance holding company system of which the insurer is a member. [1993 c.447 §53; 2013 c.370 §31; 2017 c.479 §12]
OR Rev Stat § 732.590 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.590

[1983 c.498 §18; 1993 c.447 §36; renumbered 732.543 in 1993]
OR Rev Stat § 732.595 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.595

[1983 c.498 §19; renumbered 732.546 in 1993]
OR Rev Stat § 732.596 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.596 - Request by insurance holding company system for determination or acknowledgement of group-wide supervisor.

An insurance holding company system that is not an internationally active insurance group may request that the Director of the Department of Consumer and Business Services determine or acknowledge a group-wide supervisor for the insurance holding company system in accordance with ORS 732.594. [2017 c.479 §3]
OR Rev Stat § 732.602 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.602 - Intent of ORS 732.600 to 732.630.

ORS 732.600 to 732.630 are intended to enable a domestic mutual insurer, to the extent consistent with the interests of its members and the insurance buying public, to: (1) Adopt any other type of organizational structure, including a stock insurer, stock holding company or mutual holding company, that enhances its financial strength and flexibility; and (2) Support long-term growth through creative internal strategies, mergers and acquisitions. [1997 c.771 §17]
OR Rev Stat § 732.604 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.604 - Permissible actions of domestic mutual insurer; rules.

(1) A domestic mutual insurer may engage in either of the following actions: (a) A conversion to a domestic stock insurer; or (b) A reorganization in which the domestic mutual insurer is converted to a domestic stock insurer; and (A) A mutual holding company is organized; or (B) A stock holding company is organized. (2) A mutual holding company may restructure into a stock holding company, as provided in ORS 732.622 and 732.624. (3) A reorganization involving the organization of a mutual holding company also may include the organization of an intermediate stock holding company and any other corporation that is permitted to be organized under ORS 732.600 to 732.630. A reorganization involving the organization of a stock holding company also may include the organization of any other corporation that is permitted to be organized under ORS 732.600 to 732.630. (4) The Director of the Department of Consumer and Business Services may adopt rules for any of the following purposes: (a) Implementing ORS 732.600 to 732.630. (b) Ensuring full and proper review of any action described in ORS 732.600 to 732.630. (c) Protecting the rights of policyholders, members and the insurance-buying public with respect to a conversion, reorganization or restructuring. [1997 c.771 §3]
OR Rev Stat § 732.605 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.605

[1971 c.373 §2; 1993 c.447 §23; renumbered 732.548 in 1993]
OR Rev Stat § 732.608 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|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. [1997 c.771 §16]
OR Rev Stat § 732.611 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.611 - Eligible member of domestic mutual insurer or mutual holding company; record date.

(1)(a) A member is an eligible member of a domestic mutual insurer for purposes of ORS 732.600 to 732.630 if the member’s policy is in force as of the record date for a plan of conversion or reorganization. (b) For purposes of this subsection, the record date is the date on which the mutual insurer’s board of directors adopts the plan of conversion or reorganization or on some other date that the plan specifies as the record date and that the Director of the Department of Consumer and Business Services approves. (2)(a) A member is an eligible member of a mutual holding company for purposes of ORS 732.622 and 732.624 if the member’s policy is in force as of the record date for a plan of restructuring. (b) For purposes of this subsection, the record date is the date on which the mutual holding company’s board of directors adopts the plan of restructuring or on another date the plan specifies as the record date and that the director approves. [2013 c.370 §14]
OR Rev Stat § 732.614 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.614 - Effect of conversion.

(1) Upon the effective date of a conversion, the membership interests of all members of the converting mutual insurer, whether or not eligible members, shall be extinguished, and the eligible members of the converting mutual insurer shall be entitled to receive the consideration described in ORS 732.612 in accordance with the plan. (2) A converting mutual insurer becomes a stock insurer on the effective date of the conversion. The amended or restated articles of incorporation of the converting mutual insurer shall be filed with the Director of the Department of Consumer and Business Services and shall become effective on the effective date of the conversion. The certificate of authority of the converting mutual insurer shall be amended by the director on the effective date of the conversion. (3) A converted stock insurer continues the corporate existence of the converting mutual insurer. Except as provided in the plan, the conversion does not annul, modify or change any existing license or other authority or any of the existing civil actions, rights, contracts or liabilities of the converting mutual insurer. All property, debts and choses in action and every other interest belonging to the converting mutual insurer before the conversion are retained by the converted stock insurer without further action needed. On and after the effective date of the conversion, the converted stock insurer shall exercise all rights and powers and perform all duties conferred or imposed by law upon insurers writing the classes of insurance written by the converted stock insurer, shall retain the rights and contracts of the converting mutual insurer existing immediately before the conversion and shall be subject to all obligations and liabilities of the converting mutual insurer existing immediately before the conversion, subject to the terms of the plan. (4) Notwithstanding subsections (2) and (3) of this section, the conversion may be carried out through any other method described in the plan and approved by the director. (5) Unless otherwise specified in the plan, the directors and officers of the converting mutual insurer shall serve as directors and officers of the converted stock insurer until new directors and officers are elected. (6) The provisions of this section apply to the conversion of the converting mutual insurer whether or not the conversion is part of a reorganization. [1997 c.771 §7]
OR Rev Stat § 732.615 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.615

[1971 c.373 §3; 1981 c.247 §8; 1993 c.447 §37; renumbered 732.551 in 1993]
OR Rev Stat § 732.616 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.616 - Reorganization involving organization of stock holding company; subsidiaries.

(1) Upon the effective date of a reorganization involving the organization of a stock holding company, the membership interests of all members of the converting mutual insurer, whether or not eligible members, shall be extinguished, and the eligible members of the converting mutual insurer shall be entitled to receive the consideration described in ORS 732.612 in accordance with the plan. (2) The stock holding company and any direct or indirect subsidiary of the stock holding company shall be organized at the time or times set forth in the plan. (3) As part of the plan of reorganization or in a separate transaction after the effective date of the reorganization, a stock holding company may organize one or more direct or indirect subsidiaries to conduct noninsurance business or businesses. The subsidiaries may be affiliated with the converted stock insurer or any direct or indirect parent corporation of the converted stock insurer. (4) Shares of capital stock or other securities of the converted stock insurer, the stock holding company or any direct or indirect subsidiary of the stock holding company may be issued or sold in accordance with the plan or after the effective date of the reorganization. (5) Unless otherwise specified in the plan, the directors and officers of the converting mutual insurer shall serve as directors and officers of the stock holding company and any direct or indirect subsidiary of the stock holding company until new directors and officers are elected. (6) The Director of the Department of Consumer and Business Services retains jurisdiction over the stock holding company and any direct or indirect subsidiary of the stock holding company as provided in this section and as provided in ORS 732.517 to 732.596. [1997 c.771 §8]
OR Rev Stat § 732.625 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.625

[1971 c.373 §4; 1993 c.447 §38; renumbered 732.552 in 1993]
OR Rev Stat § 732.628 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.628 - Limitations on ownership of shares in companies resulting from conversion, reorganization or restructuring.

(1) For a period of three years following the effective date of a conversion, reorganization or restructuring, unless authorized by the Director of the Department of Consumer and Business Services, the directors, officers and employees of the converted stock insurer, any stock holding company, any mutual holding company or any subsidiary of a stock holding company or mutual holding company collectively shall not own, whether directly or indirectly, more than 25 percent of all outstanding shares issued by the converted stock insurer, any stock holding company or any subsidiary of a stock holding company or mutual holding company. (2) Except as otherwise provided in ORS 732.600 to 732.630, neither a person nor a group of persons acting in concert may acquire, through public offering, exchange or subscription rights or otherwise, more than five percent of the shares of capital stock of the converted stock insurer, any stock holding company or any subsidiary of a stock holding company or mutual holding company for a period of five years from the effective date of the conversion, reorganization or restructuring except with the approval of the director. (3) If the plan so provides and not otherwise, directors and officers of the converting mutual insurer, the converted stock insurer, any stock holding company or any subsidiary of a stock holding company or mutual holding company may, within the six-month period following the effective date of the conversion, reorganization or restructuring, purchase or acquire shares of capital stock or other securities of an issuer offered pursuant to the plan. [1997 c.771 §14]
OR Rev Stat § 732.630 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.630 - Dissenters’ rights; action challenging validity of conversion, reorganization or restructuring.

(1) Dissenters’ rights provided in ORS 60.551 to 60.594 are not available to any member, whether or not eligible, of a converting mutual insurer or a restructuring mutual holding company. (2) An action challenging the validity of or arising from the conversion, reorganization or restructuring or other acts taken or proposed to be taken under the plan or ORS 732.600 to 732.630 must be commenced not later than the 60th day after the effective date of the conversion, reorganization or restructuring or other acts so taken and may be pursued only if they are unlawful or fraudulent. There shall be a rebuttable presumption that any act set forth in an order of the Director of the Department of Consumer and Business Services is lawful. [1997 c.771 §15]
OR Rev Stat § 732.635 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.635

[1971 c.373 §5; 1993 c.447 §39; renumbered 732.553 in 1993]
OR Rev Stat § 732.645 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.645

[1971 c.373 §6; 1993 c.447 §40; renumbered 732.554 in 1993]
OR Rev Stat § 732.650 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.650 - Definitions.

As used in ORS 732.650 to 732.689: (1) "Corporate governance annual disclosure" means a report that an insurer or insurance group files with the Director of the Department of Consumer and Business Services in accordance with ORS 732.680 and 732.683. (2) "Insurance group" means insurers and affiliates within an insurance holding company system, as defined in ORS 732.548. (3) "Insurer" has the meaning given that term in ORS 732.548. (4) "Own risk and solvency assessment" means a confidential internal assessment of the material and relevant risks associated with an insurer’s or insurance group’s business plan and of the sufficiency of capital resources to support the business plan that the insurer or insurance group conducts and that is appropriate for the nature, scale and complexity of the insurer or insurance group. (5) "Own Risk and Solvency Assessment Guidance Manual" means the Own Risk and Solvency Assessment Guidance Manual that the National Association of Insurance Commissioners develops and adopts and that the Director of the Department of Consumer and Business Services by rule or order designates as guidance and standards for completing an own risk and solvency assessment. (6) "Own risk and solvency assessment summary report" means a confidential high-level summary of an insurer’s or insurance group’s own risk and solvency assessment. [2015 c.547 §2; 2017 c.479 §14] Note: 732.650 to 732.689 were added to and made a part of the Insurance Code by legislative action but were not added to ORS chapter 732 or any series therein. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 732.653 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.653 - Scope; requirements and guidance.

(1) ORS 732.650 to 732.689 provide: (a) Requirements for maintaining a risk management framework and completing an own risk and solvency assessment; and (b) Guidance and instructions for filing an own risk and solvency assessment summary report with the Director of the Department of Consumer and Business Services. (2) ORS 732.650 to 732.689 apply to all insurers domiciled in this state unless an insurer is exempt under ORS 732.666. [2015 c.547 §3] Note: See note under 732.650.
OR Rev Stat § 732.655 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.655

[1971 c.373 §7; renumbered 732.558 in 1993]
OR Rev Stat § 732.656 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.656 - Risk management framework.

An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on the insurer’s material and relevant risks. The insurer satisfies this requirement if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer. [2015 c.547 §4] Note: See note under 732.650.
OR Rev Stat § 732.659 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.659 - Own risk and solvency assessment in accordance with manual.

(1) Subject to the provisions of ORS 732.666, an insurer, or the insurance group of which the insurer is a member, shall use a process that is comparable to the process described in the Own Risk and Solvency Assessment Guidance Manual to regularly conduct an own risk and solvency assessment. The insurer, or the insurance group of which the insurer is a member, shall conduct the assessment at least annually but also at any time when significant changes occur in the risk profile of the insurer or insurance group. (2) A change in the Own Risk and Solvency Assessment Guidance Manual takes effect on a date that the Director of the Department of Consumer and Business Services specifies. [2015 c.547 §5] Note: See note under 732.650.