reglab/housing_qa huggingface dataset:
OR Rev Stat § 732.539 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.539 - Notification of acquisition; confidentiality; order; rules; required information; waiting period.

(1)(a) A person that proposes to acquire another person, or the person that would be subject to the acquisition, must notify the Director of the Department of Consumer and Business Services and wait for the period of time specified in subsection (3) of this section before completing the acquisition. The director shall treat a notice and information that a person submits in accordance with this section as confidential and as exempt from disclosure under ORS 192.311 to 192.478. (b) A person that completes an acquisition without notifying the director as provided in this subsection may be subject to an order from the director under ORS 732.544. (2) The director by rule shall prescribe the form and content of the notice that a person must submit under subsection (1) of this section and, in prescribing the form and content of the notice, shall consider the form and content of the notice that the National Association of Insurance Commissioners prescribes for markets in which, under ORS 732.537 (2), completing an acquisition requires submitting a notice under this section. The director may require any additional information the director deems necessary to determine under ORS 732.542 whether the acquisition may substantially diminish competition in a line of insurance in this state or may tend to create a monopoly. The additional information may include an opinion from an economist that assesses what competitive impact the acquisition may have in this state. A person that submits an economist’s opinion under this subsection shall also submit a summary of the economist’s education and experience that reflect the economist’s ability to render an informed opinion. (3)(a) A person may not proceed with an acquisition until 30 days after the director receives the notice under subsection (1) of this section, unless the director permits the acquisition to proceed earlier. (b) During the period of time described in paragraph (a) of this subsection, the director may, only once, require the person to submit additional information related to the acquisition. If the director requires additional information, the person may not proceed with the acquisition until 30 days after the director receives the additional information, unless the director permits the acquisition to proceed earlier. [2013 c.370 §6]
OR Rev Stat § 732.540 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.540

[1967 c.359 §201; 1979 c.562 §32; 1983 c.498 §11; 1993 c.447 §31; renumbered 732.528 in 1993]
OR Rev Stat § 732.541 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.541 - Jurisdiction over person obtaining or attempting to obtain control.

The courts of this state are vested with jurisdiction over every person not resident, domiciled or authorized to do business in this state who is required to file a statement with the Director of the Department of Consumer and Business Services under ORS 732.523 and over all actions involving such a person arising out of violations of ORS 732.517 to 732.546. Each such person shall be considered to have appointed the director for the purpose of service of process. [Formerly 732.580]
OR Rev Stat § 732.543 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.543

[Formerly 732.590; renumbered 732.547 in 2013]
OR Rev Stat § 732.544 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.544 - Director’s order; effect; requirements for issuing; penalties.

(1)(a) The Director of the Department of Consumer and Business Services may issue an order with the effect described in paragraph (b) of this subsection if the director determines that an acquisition may substantially diminish competition in a line of insurance in this state or may tend to create a monopoly or if the director determines that a party to an acquisition has violated a provision of ORS 732.539. The director shall issue the order together with findings of fact and conclusions of law that support the order. (b) An order issued under paragraph (a) of this subsection may: (A) Require an insurer to cease and desist from transacting insurance in this state in the line of insurance the director identifies in the director’s determination under paragraph (a) of this subsection; or (B) Deny an application from an insurer for a certificate of authority to transact insurance in this state. (2) The director may not issue an order under subsection (1) of this section unless the director: (a) Provides a hearing to the person that will be subject to the order; (b) Notifies the person of the impending order and the hearing within 30 days after the date on which the person submitted the notice described in ORS 732.539 and not less than 15 days before the date of the hearing; and (c) Completes the hearing and issues the order not later than 60 days after the date on which the person submitted the notice described in ORS 732.539. (3) An order issued under subsection (1) of this section does not apply if an acquisition that is the subject of the order does not proceed. (4) A person that violates an order issued under subsection (1) of this section may be subject to: (a) A civil penalty under ORS 731.988; or (b) A suspension or revocation of the person’s certificate of authority. (5) Notwithstanding ORS 732.547 (4), ORS 732.547 (2) and (3) and 732.588 do not apply to an acquisition concerning which the director has issued an order under subsection (1) of this section. [2013 c.370 §8]
OR Rev Stat § 732.546 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.546 - Severability.

If any provision of ORS 732.517 to 732.546 or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of ORS 732.517 to 732.546 which can be given effect without the invalid provision or application, and to this end the provisions of ORS 732.517 to 732.546 are declared to be severable. [Formerly 732.595]
OR Rev Stat § 732.549 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.549 - Subsidiaries.

(1) A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries engaged only in one or more of the kinds of business described in ORS 733.635. (2) If an insurer ceases to control a subsidiary, the insurer must dispose of any investment in the subsidiary made pursuant to this section within three years after the time of the cessation of control or within such further time as the Director of the Department of Consumer and Business Services may prescribe, unless at any time after the investment was made, the investment meets the requirements for investment under any other provision of the Insurance Code and the insurer has notified the director of that fact. [1993 c.447 §24]
OR Rev Stat § 732.550 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.550

[1967 c.359 §203; 1993 c.447 §32; renumbered 732.531 in 1993]
OR Rev Stat § 732.551 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.551 - Registration of insurer members of holding company systems.

(1) Every authorized insurer that is a member of an insurance holding company system shall register with the Director of the Department of Consumer and Business Services as provided in this section. A foreign insurer need not register if the foreign insurer is subject to registration requirements and standards adopted by statute or rule in the jurisdiction of its domicile that are substantially similar to those contained in: (a) This section, ORS 732.552, 732.553 and 732.554; (b) ORS 732.574 (1), 732.576 and 732.582; and (c) ORS 732.574 (2) or a provision that requires each registered insurer to keep current the information required to be disclosed in its registration statement by reporting all material changes or additions not later than 15 days after the end of the month in which it learns of each such change or addition. (2) An insurer that is subject to registration under this section shall register not later than 15 days after the date the insurer becomes subject to registration, and annually thereafter on or before April 30 for the previous calendar year, unless the director for good cause shown extends the time for registration, and then within such extended time. The director may require any authorized insurer that is a member of a holding company system and is not subject to registration under this section to furnish a copy of the registration statement, the summary required in ORS 732.552 or other information filed by the insurer with the insurance regulatory authority of its domiciliary jurisdiction. [Formerly 732.615]
OR Rev Stat § 732.553 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.553 - Certain information not required to be disclosed.

Information that is not material for the purposes of registration under ORS 732.517 to 732.596 need not be disclosed on the registration statement filed pursuant to ORS 732.552. Unless the Director of the Department of Consumer and Business Services by rule or order provides otherwise, sales, purchases, exchanges, loans or extensions of credit, investments or guarantees involving one-half of one percent or less of an insurer’s admitted assets as of the December 31 next preceding the date of the registration statement or amendment shall not be deemed material for purposes of registration under ORS 732.517 to 732.596. [Formerly 732.635]
OR Rev Stat § 732.554 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.554 - Changes in registration information; reports of distributions to shareholders.

Each registered insurer shall keep current the information required to be disclosed on its registration statement by reporting all material changes or additions on amendment forms prescribed by the Director of the Department of Consumer and Business Services within 15 days after the end of the month in which the insurer learns of each such change or addition. However, except as provided in ORS 732.576, each registered insurer shall so report all dividends and other distributions to shareholders within five business days following the declaration thereof and not less than 10 business days prior to payment of the dividends and distributions, commencing from the date of receipt of the report by the director. [Formerly 732.645]
OR Rev Stat § 732.556 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.556 - Requirement that certain persons provide information to insurers.

Any person within an insurance holding company system subject to registration shall provide complete and accurate information to an insurer when such information is necessary to enable the insurer to comply with the registration requirements of ORS 732.517 to 732.596. [1993 c.447 §41]
OR Rev Stat § 732.558 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.558 - Termination of registration by director.

The Director of the Department of Consumer and Business Services shall terminate the registration of any insurer which demonstrates that it no longer is a member of an insurance holding company system. [Formerly 732.655]
OR Rev Stat § 732.560 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.560

[1967 c.359 §205; 1983 c.498 §13; 1993 c.447 §34; renumbered 732.536 in 1993]
OR Rev Stat § 732.562 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.562 - Consolidated registration.

The Director of the Department of Consumer and Business Services may require or allow two or more affiliated insurers subject to registration to file a consolidated registration statement. [Formerly 732.665]
OR Rev Stat § 732.564 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.564 - Registration for affiliated insurers.

The Director of the Department of Consumer and Business Services may allow an authorized insurer that is part of an insurance holding company system to register on behalf of an affiliated insurer that is required to register under ORS 732.551 and to file all information and material required to be filed under the registration requirements of ORS 732.517 to 732.596. [Formerly 732.675]
OR Rev Stat § 732.566 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.566 - Exemption from ORS 732.517 to 732.596 by director.

(1) The registration requirements of ORS 732.517 to 732.596 do not apply to any insurer, information or transaction the Director of the Department of Consumer and Business Services exempts by rule or order. (2) ORS 732.521, 732.523, 732.526 and 732.528 do not apply to a transaction that is subject to the provisions of ORS 732.517 to 732.546 that relate to a merger or consolidation between or among two or more insurers. [Formerly 732.685; 2013 c.370 §24]
OR Rev Stat § 732.567 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.567 - Presumption of control; rebuttal; hearing.

The Director of the Department of Consumer and Business Services shall presume that a person controls another person if the person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing, 10 percent or more of the voting securities of the other person. A person may rebut this presumption with a showing in the manner provided under ORS 732.568 that control does not exist in fact. The director may determine, after giving persons that have an interest in the director’s determination notice and opportunity to be heard and after making specific findings of fact to support the determination, that control exists in fact, notwithstanding the absence of a presumption that control exists in fact. [2013 c.370 §12]
OR Rev Stat § 732.568 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.568 - Disclaimer of affiliation; contents; subsequent duty to register; disallowance of disclaimers by director.

(1) Any person, insurer or member of an insurance holding company system may file with the Director of the Department of Consumer and Business Services a disclaimer of affiliation with any authorized insurer. The disclaimer must fully disclose all material relationships and bases for affiliation between the person, insurer or member and the insurer to which the disclaimer of affiliation applies, as well as the basis for disclaiming the affiliation. (2) After the person, insurer or member files a disclaimer, the person, insurer or member and the insurer to which the disclaimer applies are relieved of any duty to register or report under ORS 732.517 to 732.596 that may arise out of the insurer’s relationship with the person, insurer or member of the insurance holding company system that filed the disclaimer unless the director disallows the disclaimer. (3) A disclaimer that the person, insurer or member of the insurance holding company system files under this section is effective unless within 30 days after the director receives the disclaimer the director notifies the person, the insurer or the member of the insurance holding company system that director has disallowed the disclaimer. (4) The director shall grant a hearing if the person, insurer or member of an insurance holding company system that filed the disclaimer requests a hearing. [Formerly 732.695; 2013 c.370 §25]
OR Rev Stat § 732.569 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.569 - Annual enterprise risk report; contents; rules.

Every insurer that must register with the Director of the Department of Consumer and Business Services under ORS 732.551 shall file an enterprise risk report each year. The enterprise risk report must identify, to the best of the insurer’s knowledge and belief, the material risks within the insurance holding company system of which the insurer is a part that could pose enterprise risk to the insurer. The insurer shall file the enterprise risk report with the chief insurance regulatory official in the state that the director determines is the lead state for the insurance holding company system of which the insurer is a part. The director shall make the determination in accordance with procedures the director adopts by rule after considering procedures set forth in a Financial Analysis Handbook that the National Association of Insurance Commissioners has adopted. [2013 c.370 §10]
OR Rev Stat § 732.570 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.570

[1967 c.359 §207; 1987 c.846 §11; renumbered 732.538 in 1993]
OR Rev Stat § 732.571 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.571 - Supervisory college for domestic insurer; purpose; director’s powers; payment of expenses.

(1)(a) The Director of the Department of Consumer and Business Services may establish or participate in a temporary or a permanent supervisory college for any domestic insurer that is: (A) Registered under ORS 732.551; and (B) Part of an insurance holding company system that has international operations. (b) The director may establish or participate in a supervisory college in order to: (A) Ensure that the insurer complies with the Insurance Code; (B) Assess the insurer’s: (i) Financial, legal and regulatory position; (ii) Risk exposure and risk management; or (iii) Governance processes; or (C) Examine an individual insurer under ORS 732.584. (c) The director may participate in a supervisory college with state, federal, international or other regulatory agencies that supervise the insurer or the insurer’s affiliates. (2)(a) As part of the director’s establishment of or participation in a supervisory college, the director may: (A) Specify criteria under which other regulatory agencies may become members of and participate in the supervisory college; (B) Specify the functions of the supervisory college and the roles that other regulatory agencies will undertake in the supervisory college; (C) Establish a leader among the regulatory agencies that participate in the supervisory college; (D) Plan meetings and supervisory actions, specify processes for sharing information and otherwise coordinate the activities of the supervisory college; (E) Draft a crisis management plan; (F) Determine how long the director will participate in any supervisory college; and (G) Take other actions that are necessary to participate in or facilitate a supervisory college’s operations. (b) The director may enter into agreements with other regulatory agencies under ORS 705.137 for any of the purposes identified in paragraph (a) of this subsection. (3) An insurer that is registered under ORS 732.517 to 732.596 is liable to and shall pay to the director a reasonable amount that is equal to the expenses, including reasonable travel expenses, that the director incurs as a result of the director’s participation in a supervisory college under this section. The director may assess the insurer regularly in order to pay the expenses. (4) This section does not delegate to a supervisory college the director’s authority within this state to regulate or supervise an insurer or the insurer’s affiliates. [2013 c.370 §11]
OR Rev Stat § 732.572 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.572 - Rulemaking authority for ORS 732.517 to 732.596.

The Director of the Department of Consumer and Business Services may adopt rules to carry out ORS 732.517 to 732.596. [Formerly 732.705]
OR Rev Stat § 732.580 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.580

[1983 c.498 §16; 1993 c.447 §35; renumbered 732.541 in 1993]
OR Rev Stat § 732.582 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 732 - Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally|Section 732.582 - Determination of reasonableness and adequacy of capital and surplus.

For purposes of ORS 732.517 to 732.596, in order to determine whether the combined capital and surplus is reasonable in relation to the outstanding liabilities of the insurer and adequate to its financial needs, the Director of the Department of Consumer and Business Services must consider at least the applicable factors stated in ORS 731.554 for determining the reasonableness and adequacy of the insurer’s capital and surplus. [1993 c.447 §50]