2017 ORS 732.814¹
Authority of director over controlling producer and controlled insurer

(1) If the Director of the Department of Consumer and Business Services believes that the controlling producer or any other person has not complied with ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) or any rule adopted or order issued thereunder, the director may order the controlling producer to cease placing insurance with the controlled insurer.

(2) If the director finds that the controlled insurer or any policyholder of the controlled insurer has suffered any loss or damage because the controlling producer or any other person has not complied with ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) or any rule adopted or issued thereunder, the director may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.

(3) If an order for liquidation or rehabilitation of the controlled insurer has been entered pursuant to ORS chapter 734 and the receiver appointed under that order believes that the controlling producer or any other person has not complied with ORS 732.810 (Definitions for ORS 732.810 to 732.814) to 732.814 (Authority of director over controlling producer and controlled insurer) or any rule adopted or order issued thereunder, and if the insurer suffered any loss or damage because of the noncompliance, the receiver may maintain a cause of action for recovery of damages or other appropriate sanctions for the benefit of the insurer.

(4) This section does not affect the authority of the director to take any other administrative action under the Insurance Code.

(5) This section does not alter or affect the rights of policyholders, claimants, creditors or other third parties. [1993 c.447 §62]

Note: See note under 732.810 (Definitions for ORS 732.810 to 732.814).

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.