Grounds for liquidation of domestic insurers
The Director of the Department of Consumer and Business Services may apply for an order directing the director to liquidate the business of a domestic insurer, regardless of whether there has been a prior order directing the director to rehabilitate such insurer, upon any of the grounds specified in ORS 734.150 (Grounds for rehabilitation of domestic insurers), or if the insurer:
(1) Has ceased transacting business for a period of one year;
(2) Has commenced voluntary liquidation or dissolution, or attempts to commence or prosecute any action or proceeding to liquidate its business or affairs, or to dissolve its corporate charter, or to procure the appointment of a receiver, trustee, custodian, or sequestrator under any laws except the Insurance Code;
(3) Has not organized or completed its organization and obtained a certificate of authority as an insurer within the time authorized by law; or
(4) Is insolvent. [1967 c.359 §271; 1993 c.447 §97]
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.