Limitations on applicability of ORS 742.150
ORS 742.150 (Approval by director) does not apply to any of the following:
(1) A reinsurance agreement or transaction in which the ceding insurer remains directly liable for its insurance obligations or risks under the policies that are subject to the reinsurance agreement.
(2) The substitution of one insurer for another upon the expiration of insurance coverage pursuant to statutory or contractual requirements and the issuance of a new policy by another insurer.
(3) The transfer of policies pursuant to a merger or consolidation of two or more insurers to the extent that the merger or consolidation is regulated by statute.
(4) An insurer that is subject to a judicial order of liquidation or rehabilitation.
(5) Any reinsurance agreement or transaction to which a state insurance guaranty association is a party, but only if policyholders do not lose any rights or claims afforded under their original policies pursuant to ORS 734.510 (Definitions for ORS 734.510 to 734.710) to 734.710 (Administration of delinquency proceeding claims and expenses) or 734.750 (Short title) to 734.890 (Association not to be used in sales or solicitation).
(6) The transfer of liabilities from one insurer to another under a single group policy upon the request of the group policyholder.
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.