There is a newer version of the Oregon Revised Statutes
2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 742 - Insurance Policies Generally; Property and Casualty Policies
Section 742.160 - Effect of novation of policy under assumption reinsurance agreement.
OR Rev Stat § 742.160 (2015) What's This?
If a policyholder consents to a transfer as provided in ORS 742.158, or if a transfer is effected under ORS 742.162, the effect of the novation of the policy subject to the assumption reinsurance agreement is that the transferring insurer is relieved of all insurance obligations or risks transferred under the assumption reinsurance agreement and the assuming insurer becomes directly and solely liable to the policyholder for those insurance obligations and risks.
[1995 c.30 §7]
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