2017 ORS 734.800¹
Oregon Life and Health Insurance Guaranty Association
  • required members
  • required accounts

(1) There is created a nonprofit legal entity to be known as the Oregon Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under ORS 734.820 (Plan of operation), and shall exercise its powers through a board of directors established under ORS 734.805 (Association board of directors). For purposes of administration and assessment, the association shall maintain three accounts:

(a) The health insurance account, composed of the following subaccounts:

(A) The disability insurance subaccount;

(B) The long term care insurance subaccount; and

(C) The major medical and all other health insurance subaccount;

(b) The life insurance account; and

(c) The annuity account.

(2) The association shall come under the immediate supervision of the Director of the Department of Consumer and Business Services and shall be subject to the applicable provisions of the insurance laws of this state. [1975 c.251 §7; 2011 c.142 §3]

Chapter 734

Atty. Gen. Opinions

State is not liable for losses incurred by Oregon Medical Insurance Pool and pools’ policy holders bear ultimate risk of pools’ insolvency, in that there would be no source of funds to pay benefits under their policies, (1989) Vol 46, p 155

1 Legislative Counsel Committee, CHAPTER 734—Rehabilitation, Liquidation and Conservation of Insurers, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors734.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 734, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano734.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.