2017 ORS 732.518¹
Definitions for ORS 732.517 to 732.546

As used in ORS 732.517 (Purpose of ORS 732.517 to 732.546) to 732.546 (Severability):

(1) “Acquiring party” means a person that acquires or attempts to acquire control of a domestic insurer as described in ORS 732.521 (Activities that are prohibited unless specified procedures followed) (1)(a), that enters into an agreement to merge with or otherwise acquire control of a domestic insurer as described in ORS 732.521 (Activities that are prohibited unless specified procedures followed) (1)(b) or that engages in an activity described in ORS 732.521 (Activities that are prohibited unless specified procedures followed) (1)(c), or an intermediary or subsidiary corporation that holds, directly or indirectly, the assets or voting securities or assumes the liabilities of an insurer or other corporation.

(2) “Acquisition” means an agreement, arrangement or activity that results in a person acquiring control of another person, directly or indirectly, including but not limited to an acquisition of voting securities, a merger, an acquisition of assets or bulk reinsurance.

(3) “Domestic insurer” means an insurer formed under the laws of this state or a person that controls an insurer formed under the laws of this state.

(4) “Significant portion” means, when acquired in one transaction or in a related or integrated series of transactions within any 12 consecutive month period, 10 percent or more of:

(a) The assets of the insurer; or

(b) The insurer’s insurance or major class of insurance in force. [1993 c.447 §26; 2013 c.370 §17]

1 Legislative Counsel Committee, CHAPTER 732—Organization and Corporate Procedures of Domestic Insurers; Regulation of Insurers Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors732.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
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.