ORS 734.760
Definitions for ORS 734.750 to 734.890


As used in ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation), unless the context requires otherwise:

(1)

“Account” means one of the three accounts created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association).

(2)

“Association” means the Oregon Life and Health Insurance Guaranty Association created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association).

(3)

“Contractual obligation” means any obligation under a covered policy or contract or a certificate under a group policy or contract.

(4)

“Covered policy” means any policy or contract or a certificate under a group policy or contract to which ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) apply.

(5)

“Disability insurance” means health insurance that provides income payments to an insured wage earner whose income is interrupted due to an accident or illness. “Disability insurance” does not include workers’ compensation insurance.

(6)

“Impaired insurer” means a member insurer that is subject to an order of rehabilitation under ORS 734.063 (Court order) or an order of conservation under ORS 734.200 (Conservation or ancillary receivership of foreign and alien insurers) after September 13, 1975. “Impaired insurer” does not include an insolvent insurer.

(7)

“Insolvent insurer” means a member insurer that, after September 13, 1975, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency.

(8)

“Long term care insurance” has the meaning given that term in ORS 743.652 (Definitions for ORS 743.650 to 743.665).

(9)

Intentionally left blank —Ed.

(a)

“Member insurer” means any insurer currently authorized to transact in this state any kind of insurance to which ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) apply, regardless of whether the insurer’s authorization to transact insurance was, in the past, suspended, revoked, not renewed or voluntarily withdrawn.

(b)

“Member insurer” does not include:

(A)

A hospital or medical service organization, whether for-profit or nonprofit;

(B)

A health maintenance organization;

(C)

A fraternal benefit society;

(D)

A mandatory state pooling plan;

(E)

A mutual assessment company or other person that operates on an assessment basis;

(F)

An insurance exchange; or

(G)

An organization that has a certificate of authority limited to the issuance of charitable gift annuities under ORS 731.038 (Application of Insurance Code to charitable organizations that issue charitable gift annuities).

(10)

“Premiums” means direct gross insurance, including annuity, premiums written on covered policies, less return premiums thereon and dividends paid or credited to policyholders on such direct business. “Premiums” does not include premiums on contracts between insurers and reinsurers or any premiums on policies or contracts excluded under ORS 734.790 (Application).

(11)

Intentionally left blank —Ed.

(a)

“Principal place of business” means:

(A)

For a plan sponsor or a person other than a natural person, the state in which the natural persons who establish policy for the direction, control and coordination of the operations of the entity as a whole primarily exercise that function, as determined by the association after considering the following factors:
(i)
The state in which the primary executive and administrative headquarters of the entity is located;
(ii)
The state in which the principal office of the chief executive officer of the entity is located;
(iii)
The state in which the board of directors or governing body of the entity conducts the majority of its meetings;
(iv)
The state in which the executive or management committee of the board of directors of the entity conducts the majority of its meetings; and
(v)
The state from which the management of the overall operations of the entity is directed.

(B)

For a benefit plan sponsored by affiliated companies comprising a consolidated corporation, the state in which the holding company or controlling affiliate has its principal place of business as determined using the factors set forth in subparagraph (A) of this paragraph.

(C)

For a plan sponsor of a benefit plan for which more than 50 percent of the participants in the benefit plan are employed in a single state, the state in which those participants are employed.

(D)

Absent a specific or clear designation of a principal place of business for a plan sponsor of a benefit plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the principal place of business of the association, committee, joint board of trustees or other governing body of the employer or employee organization that has the largest investment in the benefit plan.

(b)

As used in this subsection, “plan sponsor” means:

(A)

The employer for a benefit plan established or maintained by a single employer.

(B)

The employee organization for a benefit plan established or maintained by an employee organization.

(C)

For a benefit plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, joint board of trustees or other governing bodies of the parties that establish or maintain the benefit plan.

(12)

“Resident” means a person to whom contractual obligations are owed by a member insurer and who resides in this state on the date a court order is entered that determines the member insurer to be an impaired insurer or an insolvent insurer. A person may be a resident of only one state, which in the case of a person other than a natural person shall be its principal place of business. A citizen of the United States who resides in a foreign country, or resides in a United States possession, territory or protectorate that does not have an association similar to the association created under ORS 734.800 (Oregon Life and Health Insurance Guaranty Association), shall be considered a resident of the state of domicile of the insurer that issued the policies or contracts. If a person could be covered by the association of another state, whether as an owner, payee, beneficiary or assignee, ORS 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation) shall be construed with the laws of the other state to result in coverage by only one association.

(13)

“Structured settlement annuity” means an annuity purchased to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

(14)

“Supplemental contract” means a written agreement entered into for the distribution of proceeds under a life or health insurance policy or an annuity contract.

(15)

“Unallocated annuity contract” means an annuity contract or group annuity certificate that is not issued to and owned by an individual, except to the extent that any annuity benefits may be guaranteed to an individual under the contract or certificate. [1975 c.251 §6; 1987 c.414 §180; 1991 c.811 §1; 2011 c.142 §1]

Source: Section 734.760 — Definitions for ORS 734.750 to 734.890, https://www.­oregonlegislature.­gov/bills_laws/ors/ors734.­html.

734.014
Definitions
734.026
“Domiciliary,” “ancillary” and “reciprocal state” defined
734.043
Supervision of insurer
734.047
Time for correction of condition leading to order of supervision
734.051
Actions by director during period of supervision
734.055
Action against person violating order of supervision
734.059
Request for court order
734.063
Court order
734.067
Review of court order
734.110
Jurisdiction of delinquency proceedings
734.113
Application of Oregon Receivership Code
734.120
Exclusive remedy
734.130
Commencement of delinquency proceeding
734.140
Injunctions
734.142
Cooperation with director in delinquency proceedings
734.144
Immunity of certain persons from civil liability
734.150
Grounds for rehabilitation of domestic insurers
734.160
Order of rehabilitation for domestic insurers
734.170
Grounds for liquidation of domestic insurers
734.180
Order of liquidation of domestic insurers
734.190
Grounds for conservation of foreign and alien insurers
734.200
Conservation or ancillary receivership of foreign and alien insurers
734.210
Conduct of delinquency proceedings for domestic insurers
734.220
Powers of director as receiver
734.230
Deputies and assistants
734.240
Conduct of delinquency proceedings for foreign insurers
734.250
Right of domiciliary receiver to sue in this state
734.260
Claims of nonresidents against domestic insurers
734.270
Claims of residents against foreign insurers
734.280
Form of claim
734.290
Priority of preferred claims
734.300
Priority of special deposit claims
734.310
Priority of secured claims
734.320
Attachment and garnishment of assets
734.340
Date rights fixed on liquidation
734.350
Voidable transfers
734.360
Preference of claims
734.370
Offsets
734.380
Allowance of certain claims
734.390
Time to file claims
734.400
Report for assessment
734.410
Levy of assessment
734.420
Order to pay assessment
734.430
Publication and transmittal of assessment order
734.440
Judgment upon assessment
734.510
Definitions for ORS 734.510 to 734.710
734.520
Purpose
734.530
Construction
734.540
Application
734.550
Oregon Insurance Guaranty Association
734.555
Application to association of certain laws governing corporations
734.560
Association board of directors
734.570
Required functions of association
734.575
Refunds from association deposited in General Fund
734.579
Recoupment assessments
734.580
Discretionary functions of association
734.590
Plan of operation
734.600
Contents of plan of operation
734.610
Notification to association of insurer insolvency
734.620
Notification of insolvency to insured persons
734.630
Assignment of claim rights
734.635
Disbursing assets of insolvent insurer to association
734.640
Claim priority
734.650
Notifying director of impaired insurers
734.660
Regulation of association as insurer
734.670
Exemption of association from payment of fees and taxes
734.690
Immunity from legal action
734.695
Liability of insured of insolvent insurer
734.700
Defense of claims on default of insolvent insurer
734.710
Administration of delinquency proceeding claims and expenses
734.750
Short title
734.760
Definitions for ORS 734.750 to 734.890
734.770
Purpose
734.780
Construction
734.790
Application
734.800
Oregon Life and Health Insurance Guaranty Association
734.805
Association board of directors
734.810
Duties and powers of association
734.815
Assessment of members
734.820
Plan of operation
734.825
Powers and duties of director
734.830
Notifying director of impaired insurers
734.835
Assessments offset against tax liabilities
734.840
Conduct of liquidation, rehabilitation or conservation proceeding involving impaired or insolvent insurer
734.850
Examination and regulation of association by director
734.860
Exemption of association from payment of fees and taxes
734.870
Immunity from legal action
734.880
Stay of proceeding involving insolvent insurer
734.890
Association not to be used in sales or solicitation
Green check means up to date. Up to date