2015 ORS 731.142¹
"Stock," "mutual" and "reciprocal" insurer

(1) "Stock insurer" means an incorporated insurer whose capital is divided into shares and owned by its stockholders.

(2) "Mutual insurer" means an incorporated insurer without capital stock and the governing body of which is elected by its policyholders. This definition does not exclude as a "mutual insurer" a foreign insurer found by the Director of the Department of Consumer and Business Services to be organized on the mutual plan under the laws of its domicile, but having temporary share capital or providing for election of the insurer’s governing body on a reasonable basis by policyholders and others.

(3) "Reciprocal insurer" means an unincorporated aggregation of persons known as "subscribers," operating individually and collectively through an attorney in fact common to all such persons, interexchanging among themselves reciprocal agreements of indemnity. [1967 c.359 §29]

Chapter 731

Atty. Gen. Opinions

Vehicle service contracts sold to purchasers by motorcycle and motor vehicle dealers as constituting sale of insurance, (1978) Vol 38, p 2218


1 Legislative Counsel Committee, CHAPTER 731—Administration and General Provisions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors731.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 731, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano731.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.