reglab/housing_qa huggingface dataset:
OR Rev Stat § 733.650 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.650 - Investment of funds in certain obligations and other specified items.

Funds of an insurer may be invested in the following: (1) Obligations secured by a mortgage or deed of trust payment of which is guaranteed by a policy of mortgage insurance. (2) Obligations issued, assumed or guaranteed by the International Bank for Reconstruction and Development. (3) Bank and bankers’ acceptances and other bills of exchange of the kind and nature made eligible by law for purchase in the open market by federal reserve banks. (4) Deposits, certificates of deposits, accounts or savings or certificate shares or accounts of or in banks, trust companies, savings and loan associations or building and loan associations insured with the Federal Deposit Insurance Corporation or qualified to do business under the laws of this state. (5) Obligations issued by trustees or receivers of a corporation created or existing under the laws of a sovereign which, or the assets of which, are being administered under the direction of a court having jurisdiction if the obligation is adequately secured as to principal and interest. (6) Transportation equipment used wholly or in part within a sovereign, or adequately secured trust certificates of participation or similar obligations or contracts evidencing an interest in such transportation equipment, where the investor is entitled to receive a determined or determinable portion of rental, purchase or other obligatory payments for use or purchase of the equipment. (7) Purchase contracts or lease-purchase agreements executed under the Federal Public Buildings Purchase Contract Act of 1954, or the Post Office Department Property Act of 1954. (8) Stock of the Federal Home Loan Bank to the extent of the minimum required by the Federal Home Loan Bank Act. An insurer acquiring such stock may exercise all rights and powers given to members under such Act, including but not by way of limitation the right to obtain advances or borrow money from such bank and to pledge collateral as security therefor. (9) Obligations issued, assumed or guaranteed by the Inter-American Development Bank. (10) Obligations issued, assumed or guaranteed by the Asian Development Bank. (11) Obligations issued, assumed or guaranteed by the African Development Bank. [Formerly 738.295; 1969 c.336 §9; 1969 c.692 §8; 1973 c.514 §1; 1985 c.456 §2; 1993 c.447 §114; 2007 c.426 §6]
OR Rev Stat § 733.652 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.652 - Investment of funds of separate accounts.

Except as may be prescribed by the Director of the Department of Consumer and Business Services under ORS 733.220 (3) for reserves for guaranteed benefits and funds: (1) Amounts allocated to a separate account and accumulations thereon may be invested and reinvested without regard to the requirements and limitations prescribed by ORS 733.510 to 733.780, except as expressly provided for separate accounts under such sections; and (2) The investments in separate accounts shall not be considered in applying the investment limitations applicable to the general investments of the insurer. [1973 c.435 §9]
OR Rev Stat § 733.654 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.654 - Limitation on amount of separate account investments; exceptions.

An insurer shall not invest the funds of a separate account so as to have more than 10 percent of the market value of the assets of the account invested in or secured by the stocks, obligations or property of any one person or political subdivision, or invested in a single parcel of real property or any other single investment. This section does not apply to: (1) Funds equaling 25 percent of the market value of the total assets in the separate account; (2) Investments in, or loans upon, the security of the general obligations of a sovereign; or (3) Investments in certificates of deposits insured by the Federal Deposit Insurance Corporation. [1973 c.435 §10; 1981 c.472 §27; 1999 c.107 §17]
OR Rev Stat § 733.656 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.656 - Limitation on securities owned or controlled by separate account investments.

An insurer shall not invest the funds of a separate account so as to own or control, under the insurer’s general and separate accounts in the aggregate, more than 10 percent of the voting power outstanding of any issuer of securities. Securities held in separate accounts, the voting rights in which are exercisable only in accordance with instructions from persons having interests in such accounts, shall not be considered in applying this section. [1973 c.435 §11]
OR Rev Stat § 733.658 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.658 - Applicability of separate account investment limitations.

The limitations provided in ORS 733.654 and 733.656 do not apply to the investment of separate account funds in the securities of an investment company registered under the federal Investment Company Act of 1940, as amended, if the investments of the investment company comply in substance with ORS 733.654 and 733.656. [1973 c.435 §12; 1997 c.249 §219]
OR Rev Stat § 733.670 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.670 - Investment of funds under "prudent investor" standard.

(1) Funds of an insurer may be invested in a manner not expressly prohibited under ORS 732.325 and 733.780, provided such investments are made in the exercise of the judgment and care under the circumstances then prevailing which investors of prudence, discretion and intelligence exercise in the management of their own affairs not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. (2) Funds invested under this section shall not exceed the lesser of seven and one-half percent of the insurer’s assets or the excess of the insurer’s assets over all liabilities and required capitalization. (3) If the Director of the Department of Consumer and Business Services has reason to believe that loans or investments made pursuant to this section are not adequately secured or are not yielding an income the director may direct the insurer to report under oath the amount of such loans or investments, the security therefor and its market value. [Formerly 738.305; 1979 c.846 §2; 1989 c.425 §4a]
OR Rev Stat § 733.680 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.680 - Acquisition and retention of personal property generally; purchases or loans for protection of investment property.

(1) An insurer may acquire and retain personal property received as a dividend, gift or devise, or pursuant to a lawful plan of merger, consolidation or reorganization or bona fide agreement of bulk reinsurance, or in satisfaction or liquidation of an obligation, or in exchange or part payment for real or personal property previously owned or to protect or enhance such property. (2) An insurer may make purchases or loan sums necessary to protect, preserve or enhance investment property, real or personal, which it is otherwise authorized to acquire or hold. (3) The Director of the Department of Consumer and Business Services shall allow as assets in any determination of the financial condition of the insurer only such property or investments acquired or retained under this section as are consistent with the customary operations of an insurer. [Formerly 738.315]
OR Rev Stat § 733.685 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.685 - Investment of funds by home protection insurer; rules.

Funds of a home protection insurer may be invested in tangible personal property held by the insurer for the purpose of performing or providing repairs or replacements under its home protection policies. Funds so invested shall not exceed 25 percent of the assets of the insurer that are allowable in determining its financial condition under the Insurance Code, unless otherwise allowed under rules issued by the Director of the Department of Consumer and Business Services. [1981 c.247 §13]
OR Rev Stat § 733.690 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.690 - Investment of funds in title plant.

Funds of a title insurer may be invested in its title plant. [1967 c.359 §247]
OR Rev Stat § 733.695 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.695 - Investment of funds in obligations that are not investment quality; rules.

Funds of an insurer may be invested in obligations that are not investment grade as established by the Director of the Department of Consumer and Business Services by rule, but the funds that an insurer may invest under this section shall not exceed 20 percent of the insurer’s assets. [1989 c.425 §2b; 1993 c.447 §22]
OR Rev Stat § 733.700 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.700 - Investment of funds in health care service facilities.

Funds of a health care service contractor may be invested in all real and personal property used exclusively by the contractor to provide authorized health care services. [1967 c.359 §248]
OR Rev Stat § 733.710 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.710 - Investments authorized by prior law; date of eligibility of investment.

(1) An investment which was legal and proper immediately before June 8, 1967, shall be considered a proper investment and shall be subject to extension or renewal. (2) Eligibility of an investment shall be determined as of the date of its acquisition. [Formerly 738.325]
OR Rev Stat § 733.720 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.720 - Investments subject to additional limitations and requirements.

Except as may be expressly provided to the contrary in ORS 733.510 to 733.780, all investments shall be subject to the qualifications, restrictions and limitations set forth in ORS 733.510 to 733.780. [Formerly 738.333]
OR Rev Stat § 733.730 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.730 - Approval by board of directors of investments and deposits.

(1) Investments and sales or exchanges thereof, except for policy loans of an insurer issuing life insurance policies, shall be approved by the board of directors or a committee thereof charged with the duty of investing the funds of the insurer. (2) Deposits shall be made in banks or banking institutions approved by the board of directors. [Formerly 738.335]
OR Rev Stat § 733.740 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.740 - Record of investments required.

As to each investment, an insurer shall make a written record in permanent form, signed by a person authorized by the board of directors or by a committee thereof charged with the duty of investing the funds. The record shall show the authorization and approval of the investment and in addition shall contain: (1) In the case of mortgage loans: (a) The name of the borrower; (b) The location and legal description of the property; (c) A physical description and the appraised value of the security as determined by a competent and qualified appraiser; and (d) The amount of the loan, rate of interest and terms of repayment. (2) In the case of obligations: (a) The name of the obligor; (b) A description of the security and record of earnings; (c) The amount invested and the rate of interest or dividend; and (d) The maturity and yield based upon the purchase price. (3) In the case of corporate stocks: (a) The name of the issuing corporation; (b) The record of earnings and of dividends paid for the preceding three years for preferred stock and for the preceding five years for common stock; (c) A summary of the financial statement of the corporation as of the end of the preceding fiscal year; (d) The exchange, if any, on which the stock is listed; and (e) The amount invested and the number of shares acquired and held. (4) In the case of real estate, leaseholds or vendors’ interests under contracts of sale therein: (a) The location and legal description of the property; (b) A physical description and the appraised value of the property and interest therein; (c) The purchase price and terms; (d) The amount of any lien known to be against the property; (e) If of a leasehold, the terms of the outstanding lease; and (f) If a vendor’s interest under a contract of sale, the terms and status of payments under the contract. (5) In the case of all investments: (a) The amount of any expenses and commissions incurred on account of the investment or loan and by whom and to whom payable if not covered by contracts with mortgage loan representatives or correspondents that are part of the insurer’s records; and (b) The name of any director, trustee or officer of the insurer, having a direct, indirect or contingent interest in the loan, security or property, or who would derive, directly or indirectly, any benefit therefrom, and the nature of such interest or benefit. [Formerly 738.345; 2005 c.22 §488]
OR Rev Stat § 733.750 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.750 - Disposal of investments on order of director.

After a hearing, the Director of the Department of Consumer and Business Services may by written order require the disposal of an investment which the director finds to be made or retained in violation of the Insurance Code, or of an investment which the director, for good cause, determines to be prejudicial to, and to impair the security of, the stockholders or policyholders of the insurer. [Formerly 738.355]
OR Rev Stat § 733.760 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.760 - Insurance required on buildings on property which is security for loan.

On loans secured by liens upon real property or leasehold interests therein, the buildings and other improvements located on the premises shall be kept insured against loss or damage from fire in an amount not less than the unpaid balance of the obligation or the insurable value of the property, whichever is the lesser. The fire insurance policy or policies shall be payable to the insurer, or a trustee for its benefit, and continued in force until the loan is repaid or satisfied. Such policy or policies shall be held by the insurer or the trustee, unless the Director of the Department of Consumer and Business Services has determined that a different method of protecting the insurers against loss is satisfactory and has given prior approval of such method to the insurer. [1967 c.359 §254; 1969 c.336 §10]
OR Rev Stat § 733.770 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.770 - Limitations on investments in property of any one person or single parcel of real estate.

(1) An insurer shall not have any combination of investments in or secured by the stocks, obligations, and property of one person, corporation or political subdivision in excess of 10 percent of the insurer’s assets, nor shall it invest more than 10 percent of its assets in a single parcel of real property or in any other single investment. This subsection does not apply to: (a) Investments in, or loans upon, the security of the general obligations of a sovereign; (b) Policy loans by insurers issuing life insurance policies; (c) Investments by a title insurer in its title plant, or in real property not in excess of 50 percent of the insurer’s combined capital and surplus; or (d) Investments by a health care service contractor in all real or personal property used exclusively by such contractor to provide authorized health care services or in real property used primarily for its home office. (2) Notwithstanding subsection (1) of this section and subject to approval by the Director of the Department of Consumer and Business Services in writing, a domestic insurer organized before 1950 may invest an amount not exceeding 15 percent of its assets in real property used primarily for its home office. [Formerly 738.375; 1983 c.732 §1]
OR Rev Stat § 733.780 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 733 - Accounting and Investments|Section 733.780 - Prohibited investments.

(1) An insurer shall not make investments: (a) Which at the time of purchase or acquisition are not interest-bearing or dividend or income-paying, or are in default in any respect; or (b) From which the insurer is not entitled to receive for its exclusive account and benefit the interest, dividends or income. (2) Subsection (1)(a) of this section shall not apply to property acquired under ORS 733.610, 733.670 or 733.680 if the property is acquired with the intent and expectation that it will be income-producing. (3) An insurer shall not invest its funds in any investment or security found by the Director of the Department of Consumer and Business Services to be designed to evade any prohibition of the Insurance Code. [Formerly 738.385]
OR Rev Stat § 734.014 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.014 - Definitions.

As used in this chapter: (1) "Delinquency proceeding" means any proceeding commenced against an insurer pursuant to this chapter for the purpose of liquidating, rehabilitating or conserving the insurer. (2) "Foreign country" means territory not in any state. (3) "General assets" means all property, real, personal or otherwise, not specifically mortgaged, pledged, deposited or otherwise encumbered for the security or benefit of specified persons or a limited class or classes of persons. As to specifically encumbered property, "general assets" includes all such property or its proceeds in excess of the amount necessary to discharge the sum or sums secured thereby. Assets held in trust and assets held on deposit for the security or benefit of all policyholders or all policyholders and creditors, in more than a single state, shall be treated as general assets. (4) An insurer is "impaired" when its allowed assets do not exceed its liabilities plus its required capitalization. (5) An insurer is "insolvent" when the insurer is unable to pay its obligations when they are due, or when its allowed assets do not exceed its liabilities. (6) "Insurer" includes: (a) All persons transacting or purporting to transact insurance as insurers in this state; and (b) All persons in process of organization to become insurers. (7) "Receiver" means receiver, rehabilitator, liquidator or conservator, as the context may require. (8) "Secured claim" means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow or otherwise, but not including special deposit claims or claims against general assets. "Secured claim" also includes claims which more than four months prior to the commencement of delinquency proceedings in the state of the insurer’s domicile have become liens upon specific assets by reason of judicial process. (9) "Special deposit claim" means any claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including any claim secured by general assets. [Formerly 734.020; 1993 c.447 §90]
OR Rev Stat § 734.020 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.020

[1967 c.359 §257; renumbered 734.014 in 1989]
OR Rev Stat § 734.026 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.026 - "Domiciliary," "ancillary" and "reciprocal state" defined.

As used in this chapter: (1) "Domiciliary state" means the state in which an insurer is incorporated or organized or, in the case of an alien insurer, its state of entry. (2) "Ancillary state" means any state other than a domiciliary state. (3) "Reciprocal state" means any state other than this state in which in substance and effect the provisions of this chapter relating to delinquency proceedings are in force, including provisions requiring that the Director of the Department of Consumer and Business Services or equivalent insurance supervisory official be the receiver of a delinquent insurer and in which some provision exists for the avoidance of fraudulent conveyances and preferential transfers. [Formerly 734.050; 1993 c.447 §91]
OR Rev Stat § 734.030 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.030

[Formerly 751.010; renumbered 734.018 in 1989]
OR Rev Stat § 734.040 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.040

[1967 c.359 §260; renumbered 734.022 in 1989]
OR Rev Stat § 734.047 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.047 - Time for correction of condition leading to order of supervision.

(1) An insurer placed under supervision must correct, eliminate or remedy the acts, transactions or practices that are the basis for the order of supervision and otherwise comply with the requirements of the Director of the Department of Consumer and Business Services within the period of time allowed by the director, not to exceed 60 days, after the date on which the order is served on the insurer. (2) If the director determines that the conditions giving rise to the supervision still exist at the end of the supervision period established in subsection (1) of this section, the director may extend the period. [1989 c.425 §7; 1993 c.447 §89]
OR Rev Stat § 734.050 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.050

[1967 c.359 §261; renumbered 734.026 in 1989]
OR Rev Stat § 734.051 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers|Section 734.051 - Actions by director during period of supervision.

During the period of supervision of an insurer, the Director of the Department of Consumer and Business Services may institute rehabilitation or liquidation proceedings, extend the period of supervision or take any other action under the authority of the director with respect to the insurer. [1989 c.425 §8]