2011 Oregon Revised Statutes
ORS Volume 16, Chapters 705 - 752
ORS Chapter 731
731.362 Requirements of foreign or alien insurers generally.
(1) A foreign or alien insurer may be authorized to transact insurance in this state when it has complied with the following requirements:
(a) It shall file with the Director of the Department of Consumer and Business Services a certified copy of its charter, articles of incorporation or deed of settlement and a statement of its financial condition and business in all states in such form and detail as the director may require, signed and sworn to by at least two of its executive officers or the United States manager.
(b) It shall satisfy the director that it is fully and legally organized under the laws of its state or government to do the business it proposes to transact.
(c) It shall satisfy the director that it is possessed of and will maintain at all times its required capitalization.
(d) It shall make such deposits with the Department of Consumer and Business Services as are required by the provisions of the Insurance Code.
(2) Upon compliance with the requirements of this section and all other requirements imposed on such insurer by the Insurance Code, the director shall issue to it a certificate of authority. [Formerly 736.205; 1999 c.196 1]
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