Insurance. (1) Insurance means a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies.
(2) Insurance so defined includes annuities.
(3) Insurance so defined includes a contract under which one other than a manufacturer, builder, seller or lessor of the subject property undertakes to perform or provide, for a fixed term and consideration, repair or replacement service or indemnification therefor for the operational or structural failure of specified real or personal property or property components. Insurance does not include contracts with a telecommunications utility as defined in ORS 759.005 (Definitions), for repair, replacement or maintenance of customer-owned inside wiring.
(4) Insurance so defined does not include a contract under which an owner rents or leases an animal to a person or to a public body, as defined in ORS 174.109 (Public body defined), if the owner retains an obligation to provide for veterinary care or other needs of the animal. [1967 c.359 §21; 1981 c.247 §1; 1985 c.633 §5; 1987 c.447 §111; 2017 c.677 §5]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information