2011 Oregon Revised Statutes
ORS Volume 16, Chapters 705 - 752
ORS Chapter 731
731.636 Deposit or trusteed assets of alien insurer required.
(1) Except as provided in subsection (3) of this section, every alien insurer, before transacting insurance in this state as an authorized insurer, shall deposit with the Department of Consumer and Business Services the sum of the following amounts:
(a) The amount of its outstanding liabilities arising out of its insurance transactions in the United States; and
(b) Its required capitalization.
(2) ORS 731.640 (1)(d) does not apply with respect to such deposit.
(3) In lieu of such deposit, the insurer may furnish evidence satisfactory to the Director of the Department of Consumer and Business Services that it maintains in the United States, by way of trust deposits with public depositories or with trust institutions acceptable to the director, assets at least equal to the deposit otherwise required by this section. [1967 c.359 120; 1999 c.196 6]
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