reglab/housing_qa huggingface dataset:
OR Rev Stat § 731.458 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.458 - Exchange of reciprocal or interinsurance contracts.

(1) Individuals, partnerships and corporations of this state, hereby designated as subscribers, may exchange reciprocal or interinsurance contracts with each other, or with individuals, partnerships and corporations of other states and countries, providing indemnity among themselves from any loss which may be insured against under the Insurance Code, except life insurance and title insurance. Such contracts may be executed by an attorney, agent or other representative, hereby designated as attorney, duly authorized and acting for such subscribers. The attorney may be an individual, firm or corporation organized under the laws of this state or any other state or territory and having a principal office at the place designated by the subscribers in the power of attorney. (2) Any corporation now or hereafter organized under the laws of the state, in addition to the rights, powers and franchises specified in its articles of incorporation, may exchange insurance contracts of the kind and character described in subsection (1) of this section. The right to exchange such contracts is declared to be incidental to the purpose for which such corporations are organized and as much granted as the rights and powers expressly conferred. [Formerly 749.010]
OR Rev Stat § 731.462 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.462 - Nonassessable policies of reciprocal insurer.

A reciprocal insurer having a surplus of not less than $500,000 may issue nonassessable policies. [1967 c.359 §100]
OR Rev Stat § 731.466 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.466 - Power of attorney for reciprocal insurer.

(1) The rights and power of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers. (2) The power of attorney must set forth: (a) The powers of the attorney. (b) That the attorney may accept service of process on behalf of the insurer. (c) The services to be performed by the attorney in general. (d) The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney. (e) Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount not less than one nor more than 10 times the premium or premium deposit stated in the policy. (3) The power of attorney may: (a) Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder; (b) Impose such restrictions upon the exercise of the power as are agreed upon by the subscribers; (c) Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and (d) Contain other lawful provisions. (4) The terms of any power of attorney or agreement collateral thereto shall be reasonable and equitable, and no such power or agreement or any amendment thereof, shall be used or be effective in this state until approved by the Director of the Department of Consumer and Business Services. [1967 c.359 §101; 1997 c.249 §217]
OR Rev Stat § 731.470 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.470 - Attorney for reciprocal insurer.

(1) Any instrument required to be verified by the oath of the attorney for a reciprocal insurer may, in case of an incorporated attorney, be verified by the oath of the president, vice president, secretary or other executive officer of such corporation. (2) The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer. (3) The Director of the Department of Consumer and Business Services may refuse, suspend or revoke the certificate of authority, in addition to other grounds therefor, for failure of a reciprocal insurer’s attorney to comply with any provision of the Insurance Code. (4) The attorney for an authorized foreign or alien reciprocal insurer shall not, by virtue of discharge of its duties as such attorney with respect to the insurer’s transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign persons. [Formerly 749.140]
OR Rev Stat § 731.475 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.475 - Claims processing by workers’ compensation insurer; permission for remote claims processing; availability and disposition of claims records; auditing and examinations by director; rules.

(1)(a) Every insurer authorized to issue workers’ compensation coverage to subject employers as required by ORS chapter 656 shall maintain a place of business in this state where the insurer shall: (A) Process claims and make available complete records of claims for compensation made to the insurer under ORS chapter 656. (B) Make available upon request complete records, including all records submitted electronically, of all workers’ compensation insurance policies issued as required by ORS chapter 656. (C) Make available records identifying the specific persons covered by an employer electing coverage pursuant to ORS 656.039. (b) Notwithstanding the requirement in paragraph (a) of this subsection that an insurer process claims at a place of business in this state, the Director of the Department of Consumer and Business Services by rule may allow the insurer to process claims remotely from a place of business in this state. (2) An insurer may dispose of the records described in subsection (1) of this section only in accordance with the rules of the director. The records must be available to the Department of Consumer and Business Services for examination and audit at all reasonable times upon notice by the department to the insurer. (3) In lieu of maintaining a place of business in this state for the purpose of complying with this section, an insurer may make such records available at places of business in this state operated by service companies, if: (a) Each service company is incorporated in or authorized to do business in this state; (b) An agreement between the insurer and the service company grants each service company a power of attorney to act for the insurer in workers’ compensation coverage and claims proceedings under ORS chapter 656; and (c) The agreement between the insurer and each service company is approved by the director. (4) Notwithstanding subsection (3) of this section, an insurer may not: (a) Enter into a service agreement contract with one of the insurer’s insureds unless the insured has service contracts with other insurers; or (b) Process claims or maintain claims records at more than eight locations at any one time. [1975 c.585 §2; 1981 c.874 §8; 1987 c.373 §80a; 1989 c.630 §1; 1991 c.67 §194; 2003 c.170 §10; 2007 c.241 §23; 2021 c.21 §3]
OR Rev Stat § 731.480 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.480 - Workers’ compensation policies; conditions for issuing.

An insurer shall not issue workers’ compensation insurance policies pursuant to ORS chapter 656 unless it furnishes occupational safety and health loss control consultative services to its insured employers consistent with the requirements of ORS 654.097. [1975 c.585 §3; 1981 c.874 §9; 1987 c.373 §80b; 1987 c.884 §61; 2007 c.241 §24]
OR Rev Stat § 731.482 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.482 - Withdrawal from, failure to renew or cancellation of line by commercial liability insurer.

(1) Except as provided in subsection (5) of this section, an insurance company selling commercial liability insurance and authorized to do business in Oregon may not withdraw from, fail to renew or cancel any line of insurance or class of business without supplying appropriate written justification to the Director of the Department of Consumer and Business Services. (2) Justification for withdrawal, failure to renew or cancellation may include, but need not be limited to: (a) Insufficient premium income; (b) Loss experience or expectation of future loss in the particular line of insurance or class of business; (c) Necessity for uncompetitive or uneconomic rate increases; (d) Increased hazard in the risks assumed or material change in the line of insurance or class of business that could not have been reasonably contemplated by the insurance company at the time the company began selling the line of insurance or class of business in Oregon; or (e) Change in the availability or costs of reinsurance. (3) The director shall issue an order approving or disapproving the withdrawal from, failure to renew or cancellation of a line of insurance or class of business. (4) An order issued under this section shall include a provision requiring the insurer to notify affected insureds at least 60 days before the effective date of any withdrawal, failure to renew or cancellation approved by the director. (5) This section does not apply to a surplus lines insurer. [1987 c.774 §34]
OR Rev Stat § 731.484 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.484 - Prohibition on certain sales related to group health and group life insurance.

(1) No insurer or insurance producer selling a policy of group life insurance or group health insurance subject to the exemption in ORS 731.146 (2)(b) is authorized to sell membership in a group for the purpose of qualifying an applicant who is an individual for the insurance. (2) No insurer or insurance producer selling membership in a group is authorized to offer a policy of group life insurance or group health insurance subject to the exemption in ORS 731.146 (2)(b) for the purpose of selling membership in the group. [1989 c.784 §2; 2003 c.364 §72; 2007 c.752 §§2,7]
OR Rev Stat § 731.485 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.485 - Conditions under which insurer may limit insured’s choice of drug outlets and pharmacies.

(1) An insurer may limit the drug outlets or pharmacists from which a person covered under a health insurance policy issued by the insurer is authorized by the insurer to obtain services only if the insurer first provides an opportunity to drug outlets and pharmacists to offer to participate as a provider of services as provided in this section. An insurer to which this section applies must provide notice of the opportunity by mailing a notice to the professional organization representing drug outlets and pharmacists in the service area of the insurer. The notice must be given at least 10 days before the deadline for receiving offers. The notice shall state the following: (a) The date after which offers will not be considered. (b) The services to be provided under the policy. (c) That each offer must contain a statement that the drug outlet or pharmacist is in compliance with the requirements of the State Board of Pharmacy. (d) The name and address of the person or office designated for receipt of the offers. (2) The services to which this section applies are the services normally provided by drug outlets and pharmacists, including but not limited to prescription drugs. (3) A professional organization that has received notice pursuant to subsection (1) of this section shall take reasonable steps to relay the notice to each drug outlet registered with the State Board of Pharmacy that is in the relevant service area. (4) The following apply to an offer submitted by a drug outlet or pharmacist in response to a notice given under subsection (1) of this section: (a) The offer must be in writing. (b) The offer must be submitted to the person or office designated in the notice. (c) The drug outlet or pharmacist must agree to provide services specified by the insurer. (5) An insurer to which this section applies may select any drug outlet or pharmacist of its choice on whatever basis the insurer alone determines to be appropriate. Nothing in this section prohibits an insurer from contracting with one or more drug outlets or pharmacists exclusively for services to be provided to its insureds. [1993 c.391 §2]
OR Rev Stat § 731.486 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.486 - Exemption from definition of "transact insurance" for group health and life policies; master group health and life insurance coverage; rules.

(1) The exemption in ORS 731.146 (2)(b) does not apply to an insurer that offers coverage under a group health insurance policy or a group life insurance policy in this state unless the Director of the Department of Consumer and Business Services determines that the exemption applies. (2) The insurer shall submit evidence to the director that the exemption applies. When a master policy is delivered or issued for delivery outside this state to trustees of a fund for two or more employers, for one or more labor unions, for one or more employers and one or more labor unions or for an association, the insurer shall also submit evidence showing compliance with: (a) ORS 743.526, for a policy of group health insurance; or (b) ORS 743.354, for a policy of group life insurance. (3) The director shall review the evidence submitted and may request additional evidence as needed. (4) An insurer shall submit to the director any changes in the evidence submitted under subsection (2) of this section. (5) The director may order an insurer to cease offering a policy or coverage under a policy if the director determines that the exemption under ORS 731.146 (2)(b) is no longer satisfied. (6) Coverage under a master group life or health insurance policy delivered or issued for delivery outside this state that does not qualify for the exemption in ORS 731.146 (2)(b) may be offered in this state if the director determines that the state in which the policy was delivered or issued for delivery has requirements that are substantially similar to those established under ORS 743.360 or 743.522 (2) and that the policy satisfies those requirements. (7) This section does not apply to any master policy issued to a multistate employer or labor union. (8) The director may adopt rules to carry out this section. [1989 c.784 §3; 2001 c.943 §1; 2005 c.22 §486; 2007 c.752 §§3,8]
OR Rev Stat § 731.488 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.488 - Annual audit of insurer; rules.

(1) Each insurer shall have an annual audit conducted by an independent certified public accountant and shall file an audited financial report annually with the Director of the Department of Consumer and Business Services. The annual audited financial report shall disclose: (a) The financial position of the insurer as of the end of the most recent calendar year; and (b) The results of the insurer’s operations, cash flows and changes in capital and surplus for the year then ended. (2) The director shall adopt rules with respect to the following matters as needed for carrying out the requirements of this section: (a) Required contents and format of the audited financial report. (b) Requirements for filing the report. (c) Requirements applicable to qualifications and designation of certified public accountants for purposes of audits under this section. The requirements may include limitations on length of service for certified public accountants and may permit recognition of accountants comparably qualified under the laws of another country. (d) Requirements applicable to evaluation of the accounting procedures of an insurer and its system of internal control by a certified public accountant. (e) Standards governing the scope and preparation of the audit. (f) Requirements and procedures relating to the reporting of the adverse financial condition of an insurer by a certified public accountant. (g) Requirements and procedures relating to the reporting of significant deficiencies for internal controls of an insurer. (h) Exemptions. (i) Any other matter that the director determines to be needed for preparation of or inclusion in the financial report. [1991 c.401 §15]
OR Rev Stat § 731.492 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.492 - Required notification to claimant upon insurer’s payment to settle third-party liability claim; required contents of notification.

(1)(a) An insurer shall notify a claimant in writing at the time the insurer pays $5,000 or more to settle a third-party liability claim if: (A) The claimant is a natural person; (B) The insurer or an agent or other representative of the insurer, including the insurer’s attorney, delivers the payment to the claimant or to the claimant’s attorney, agent or other representative by draft, check or other form of payment; and (C) The claimant or the claimant’s attorney has provided contact information or a mailing address to the insurer. (b) An insurer may comply with paragraph (a) of this subsection by sending to the claimant a copy of the cover letter that accompanies the insurer’s settlement payment to the claimant’s attorney. Any notice to the claimant other than a copy of the cover letter may not include more than: (A) A statement that the insurer has paid a settlement; (B) The amount of the settlement; (C) The date on which the insurer paid the settlement; (D) The insurer’s name; and (E) Any identifying number for the claim. (2) Subsection (1) of this section does not: (a) Create a cause of action against an insurer for the insurer’s failure to provide the notice described in subsection (1) of this section; or (b) Create for the claimant’s attorney a defense to any cause of action based on an insurer’s failure to provide the notice described in subsection (1) of this section. (3) Subsection (1) of this section authorizes an insurer or the insurer’s attorney to communicate with the claimant for the purpose of delivering the notice described in subsection (1) of this section even if the insurer or the insurer’s attorney knows that the claimant is represented by an attorney. (4) This section does not invalidate or otherwise affect a settlement for which an insurer made a payment. [2021 c.140 §2] Note: 731.492 was added to and made a part of the Insurance Code by legislative action but was not added to ORS chapter 731 or any series therein. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 731.512 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.512 - Withdrawal of insurer; reinsurance.

(1) No insurer shall withdraw from this state until its direct liability to its policyholders and obligees under all its insurance policies then in force in this state has been assumed by another authorized insurer under an agreement approved by the Director of the Department of Consumer and Business Services. In the case of a life insurer, its liability pursuant to policies issued in this state in settlement of proceeds under its policies shall likewise be so assumed. (2) The director may waive this requirement if the director finds upon examination that a withdrawing insurer then is fully solvent and that the protection to be given its policyholders in this state will not be impaired by the waiver. (3) The assuming insurer within a reasonable time shall replace the assumed insurance policies with its own, or by indorsement thereon acknowledge its liability thereunder. (4) This section is in addition to the requirements of ORS 732.517 to 732.546 and 742.150 to 742.162. [1967 c.359 §105; 1995 c.30 §10]
OR Rev Stat § 731.514 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.514 - Ceding insurer’s management of reinsurance recoverables; requirement to diversify reinsurance program.

(1) A ceding insurer shall manage the ceding insurer’s reinsurance recoverables in proportion to the ceding insurer’s book of business. A domestic ceding insurer shall notify the Director of the Department of Consumer and Business Services within 30 days after reinsurance recoverables from any single assuming insurer or group of affiliated assuming insurers exceeds or is likely to exceed 50 percent of the domestic ceding insurer’s surplus, as last reported to the ceding insurer’s policyholders. In the notification, the domestic ceding insurer shall demonstrate that the domestic ceding insurer is safely managing the exposure. (2) A ceding insurer shall diversify the ceding insurer’s reinsurance program. A domestic ceding insurer shall notify the director within 30 days after ceding to any single assuming insurer or group of affiliated assuming insurers more than 20 percent of the ceding insurer’s gross written premium in the previous calendar year or after determining that the ceded reinsurance will likely exceed this percentage. In the notification, the domestic ceding insurer shall demonstrate that the domestic ceding insurer is safely managing the exposure. [2019 c.151 §2]
OR Rev Stat § 731.562 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.562 - Title insurer capital and surplus requirements.

To qualify for authority to transact title insurance in this state, an insurer shall possess and thereafter maintain capital or surplus, or any combination thereof, of not less than $2.5 million. [Formerly 748.010; 1987 c.483 §2; 2001 c.318 §2]
OR Rev Stat § 731.566 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.566 - Reciprocal insurer surplus requirements.

To qualify for authority to transact insurance in this state, a reciprocal insurer shall possess and thereafter maintain a surplus of not less than $2.5 million, and any reciprocal insurer that exchanges policies of insurance covering workers’ compensation insurance shall possess and thereafter maintain a surplus of not less than $5 million. [1967 c.359 §109; 1975 c.274 §1; 1977 c.651 §2; 1987 c.483 §3; 1993 c.709 §3; 2001 c.318 §3]
OR Rev Stat § 731.570 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 731 - Administration and General Provisions|Section 731.570 - Withdrawing advancements made to reciprocal insurer.

No advancement made by the subscribers or the attorney of a reciprocal insurer shall be withdrawn or refunded except out of the surplus of the insurer in excess of its required capitalization, and then only upon the written consent of the Director of the Department of Consumer and Business Services. [1967 c.359 §110]