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2019 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 733 - Accounting and Investments
Section 733.680 - Acquisition and retention of personal property generally; purchases or loans for protection of investment property.
Universal Citation: OR Rev Stat § 733.680 (2019)
(1) An insurer may acquire and retain personal property received as a dividend, gift or devise, or pursuant to a lawful plan of merger, consolidation or reorganization or bona fide agreement of bulk reinsurance, or in satisfaction or liquidation of an obligation, or in exchange or part payment for real or personal property previously owned or to protect or enhance such property.
(2) An insurer may make purchases or loan sums necessary to protect, preserve or enhance investment property, real or personal, which it is otherwise authorized to acquire or hold.
(3) The Director of the Department of Consumer and Business Services shall allow as assets in any determination of the financial condition of the insurer only such property or investments acquired or retained under this section as are consistent with the customary operations of an insurer. [Formerly 738.315]
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