Chapter 731 — Chapter 731

ORS 731.004 Short title. ORS chapters 731, 732, 733, 734, 735, 737, 742, 743, 743A, 743B, 744, 746, 748 and 750 may be cited as the Insurance Code. [1967 c.359 §1; 1973 c.97 §1; 1975 c.769 §1]

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ORS 731.008 Purpose of Insurance Code. The Legislative Assembly declares that the Insurance Code is for the protection of the insurance-buying public. [Formerly 736.003]

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ORS 731.010 [Repealed by 1965 c.241 §3]

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ORS 731.012 Effect of federal law. The Insurance Code shall regulate the business of insurance and every person engaged therein in accordance with the intent of Congress as expressed in the Act of March 9, 1945, as amended (Public Law 15, 79th Congress, 15 U.S.C. 1011 to 1014) which states in part that no Act of Congress shall be construed to invalidate, impair or supersede any law enacted by any state for the purpose of regulating the business of insurance, or which imposes a fee or tax upon such business, unless such Act specifically relates to the business of insurance. [1967 c.359 §3]

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ORS 731.016 Construction of Insurance Code. The Insurance Code shall be liberally construed and shall be administered and enforced by the Director of the Department of Consumer and Business Services to give effect to the policy stated in ORS 731.008. [1967 c.359 §4]

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ORS 731.020 [Repealed by 1965 c.241 §3]

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ORS 731.022 Compliance with Insurance Code required. No person shall transact insurance in this state or relative to a domestic risk without complying with the applicable provisions of the Insurance Code. [1967 c.359 §5]

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ORS 731.026 Application of Insurance Code to particular insurers. The Insurance Code applies to

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ORS 731.028 Applicability of certain Insurance Code provisions to State Accident Insurance Fund Corporation. (1) The State Accident Insurance Fund Corporation is subject as a domestic insurer to ORS 731.248, 731.252, 731.256, 731.258, 731.260, 731.296 to 731.316, 731.488, 731.574, 731.592, 731.594, 731.730, 731.731, 731.735, 731.737, 731.870, 731.988, 731.992, 733.010 to 733.060, 733.140 to 733.170, 733.210, 737.205, 737.215, 737.225, 737.235 to 737.340, 737.505 and 737.560, ORS chapters 742, 743, 743A, 743B and 744 and ORS 746.015, 746.075, 746.110, 746.145 to 746.155, 746.230 and 746.240. However

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ORS 731.030 [Repealed by 1965 c.241 §3]

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ORS 731.032 [1967 c.359 §7; 1971 c.69 §1; 1971 c.538 §1; 1979 c.848 §1; 1993 c.265 §3; repealed by 2003 c.802 §173]

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ORS 731.036 Persons completely exempt from application of Insurance Code. Except as provided in ORS 743.029 or as specifically provided by law, the Insurance Code does not apply to any of the following to the extent of the subject matter of the exemption

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ORS 731.038 Application of Insurance Code to charitable organizations that issue charitable gift annuities. (1) As used in this section

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ORS 731.039 Requirements for certain educational institutions or nonprofit corporations issuing charitable gift annuities. ORS 731.038 (2)(a) and (b) does not apply to an educational institution or nonprofit corporation that holds a certificate of authority issued under ORS 731.704 (repealed in 2005) on the day before January 1, 2006. An educational institution or nonprofit corporation subject to this section shall keep on file an annual audited financial statement prepared by an independent certified public accountant. [2005 c.31 §3]

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ORS 731.040 [Repealed by 1965 c.241 §3]

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ORS 731.042 Certificate of exemption; application of certain Insurance Code provisions to exempt insurers. (1) An exempt insurer who holds a certificate of exemption issued by the Director of the Department of Consumer and Business Services before January 1, 2003, may continue transacting insurance

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ORS 731.046 Exemption of policies from Securities Law. Any policy, other than a variable annuity policy, whose form has been filed with and approved by the Director of the Department of Consumer and Business Services is exempt from the application of ORS 59.005 to 59.505, 59.710 to 59.830, 59.991 and 59.995, and the marketing of such policy is likewise exempt. [1967 c.359 §10; 2007 c.393 §2]

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ORS 731.050 [Repealed by 1965 c.241 §3]

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ORS 731.052 Insurance Code definitions. Except where the context otherwise requires, the definitions given in the Insurance Code govern its construction. [1967 c.359 §11]

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ORS 731.056 “Action.” “Action” means any action, suit or legal proceeding. [1967 c.359 §12]

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ORS 731.060 [Repealed by 1965 c.241 §3]

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ORS 731.062 [1967 c.359 §13; 1991 c.810 §1; 2001 c.191 §20; 2003 c.364 §1; renumbered 731.104 in 2003]

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ORS 731.066 “Authorized,” “unauthorized” insurer. (1) An “authorized” insurer is one authorized by a subsisting certificate of authority to transact insurance in this state

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ORS 731.069 “Certificate,” “certificate holder.” (1) “Certificate” means a written statement evidencing the coverage of a person insured under a group insurance policy

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ORS 731.070 [Repealed by 1965 c.241 §3]

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ORS 731.072 “Certificate of authority,” “license.” (1) A “certificate of authority” is one issued by the Director of the Department of Consumer and Business Services pursuant to the Insurance Code evidencing the authority of an insurer to transact insurance in this state

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ORS 731.074 “Commercial liability insurance.” (1) “Commercial liability insurance” means insurance for a business, professional, nonprofit or governmental entity against legal, contractual or assumed liability for death, injury or disability of any human, or for damage to property, arising out of acts or omissions in the course of the conduct of the entity

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ORS 731.075 “Covered life.” “Covered life” means a subscriber, policyholder, certificate holder, spouse, dependent child or any other individual insured under an insurance policy or whose benefits are administered by a third party administrator licensed under ORS 744.702. [2009 c.595 §1194]

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ORS 731.076 “Department,” “director.” (1) “Department” means the Department of Consumer and Business Services

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ORS 731.080 [Repealed by 1965 c.241 §3]

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ORS 731.082 “Domestic,” “foreign,” “alien” insurer. (1) “Domestic insurer” means an insurer formed under the laws of this state

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ORS 731.086 “Domestic risk.” “Domestic risk” means a subject of insurance resident, located or to be performed in this state. [1967 c.359 §18]

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ORS 731.090 [Repealed by 1965 c.241 §3]

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ORS 731.092 “Domicile.” The “domicile” of an insurer means

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ORS 731.096 “Domicile of alien insurer.” (1) The domicile of an alien insurer, other than insurers formed under the laws of Canada or a province thereof, shall be that state designated by the insurer in writing filed with the Director of the Department of Consumer and Business Services at time of admission to this state or before January 1, 1962, whichever date is the later, and may be any one of the following states

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ORS 731.097 “Essential health benefits.” “Essential health benefits” are the items and services prescribed by the Department of Consumer and Business Services by rule in accordance with federal law, including

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ORS 731.098 “Group health insurance.” “Group health insurance” means that form of health insurance covering groups of persons described in this section, with or without one or more members of their families or one or more of their dependents, or covering one or more members of the families or one or more dependents of such groups of persons, and issued upon one of the following bases

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ORS 731.099 “Independently procured insurance.” “Independently procured insurance” means insurance procured directly by an insured from a nonadmitted insurer as defined in ORS 735.405. [2011 c.660 §2]

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ORS 731.100 [Repealed by 1965 c.241 §3]

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ORS 731.102 “Insurance.” (1) “Insurance” means a contract whereby one undertakes to indemnify another or pay or allow a specified or ascertainable amount or benefit upon determinable risk contingencies

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ORS 731.104 “Insurance producer.” “Insurance producer” means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. For purposes of this definition

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ORS 731.106 “Insurer.” “Insurer” includes every person engaged in the business of entering into policies of insurance. [1967 c.359 §22]

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ORS 731.110 [Repealed by 1965 c.241 §3]

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ORS 731.112 “Judgment.” “Judgment” includes a final order. [1967 c.359 §23; 2003 c.576 §553]

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ORS 731.114 “Limited benefit coverage.” “Limited benefit coverage” means

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ORS 731.116 “Person.” “Person” means an individual or a business entity. For the purpose of this definition, “business entity” means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. [1967 c.359 §24; 1983 c.327 §12; 2001 c.191 §21]

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ORS 731.120 [Repealed by 1965 c.241 §3]

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ORS 731.122 “Policy.” “Policy” means the written contract or written agreement for or effecting insurance, by whatever name called, and includes all clauses, riders, indorsements and papers which are a part thereof and annuities. [1967 c.359 §25]

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ORS 731.126 “Reinsurance.” “Reinsurance” means a contract under which an originating insurer, called the “ceding” insurer, procures insurance for itself in another insurer, called the “assuming” insurer or the “reinsurer,” with respect to part or all of an insurance risk of the originating insurer. [1967 c.359 §26]

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ORS 731.130 [Repealed by 1965 c.241 §3]

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