Registration of securities subsequent to issuance of organization permit and certificate of incorporation
If the proposed domestic insurer is to issue securities, it shall comply with the applicable provisions of ORS 59.005 (Short title) to 59.451 (Prohibition against filing false statement by person under investigation or examination), 59.710 (Definitions for ORS 59.710 to 59.830) to 59.830 (Self-incrimination by witness), 59.991 (Criminal penalties for ORS 59.005 to 59.451 and 59.710 to 59.830) and 59.995 (Civil penalties for ORS 59.005 to 59.451 and 59.710 to 59.830). However, the Director of the Department of Consumer and Business Services shall not allow the registration of securities of a proposed domestic insurer unless the organizers of such insurer have been issued an organization permit under ORS 732.055 (Approval or disapproval of application for permit), and have received a certificate of incorporation under ORS 732.115 (Approval of articles, documents and bond, letter of credit or deposit). [1967 c.359 §158; 1987 c.414 §162]
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