Chapter 748 — Chapter 748
114 sections in this chapter.
ORS 748.205 [1967 c.359 §613; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.207 Benefits exempt from execution. No money or other benefit, charity, relief or aid to be paid, provided or rendered by any society, shall be liable to attachment, garnishment or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or beneficiary, or any other person who may have a right thereunder, either before or after payment by the society. [1987 c.490 §19]
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[Repealed or reserved.]
ORS 748.210 [1967 c.359 §614; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.211 Benefit contract; certificate. (1) Every society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided. The certificate, together with any riders or indorsements attached to it, the laws of the society, the application for membership, the application for insurance and declaration of insurability, if any, signed by the applicant, and all amendments to each, shall constitute the benefit contract, as of the date of issuance, between the society and the owner, and the certificate shall so state. The laws of the society need not be stated in full in the certificate, except as provided in this section. A copy of the application for insurance and declaration of insurability, if any, shall be indorsed upon or attached to the certificate. All statements on the application shall be representations and not warranties. Any waiver of this provision shall be void
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(2) Any changes, additions or amendments to the laws of the society duly made or enacted subsequent to the issuance of the certificate, shall bind the owner and the beneficiaries, and shall govern and control the benefit contract in all respects the same as though the changes, ad…
ORS 748.215 [1967 c.359 §615; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.216 [Formerly 740.740; repealed by 1969 c.336 §21]
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[Repealed or reserved.]
ORS 748.220 [1967 c.359 §616; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.225 [Formerly 740.640; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.230 [Formerly 740.200; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.235 [Formerly 740.650; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.240 [Formerly 740.660; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.305 [1967 c.359 §621; repealed by 1987 c.490 §58]
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GROUP BENEFITS
ORS 748.306 Authority for group benefit certificates. A fraternal benefit society may provide in its laws, in addition to other benefits provided, for the issuance of group benefit certificates if on the date when it enters upon business it has admitted assets which are greater than the sum of its accrued liabilities and reserves under all of its certificates when valued according to standards required for certificates issued after June 8, 1967. [1987 c.490 §36]
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[Repealed or reserved.]
ORS 748.309 Group membership; lodges. (1) Group benefit certificates may provide for the payment of benefits in the event of the death, or death and disability, of
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(a) Persons engaged in a common enterprise or employment. (b) The employees of any employer. (2) Group certificates may be issued with or without medical examination and without limitation as to age. (3) The society shall organize the persons or employees into a lodge or lodges w…
ORS 748.310 [1967 c.359 §622; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.312 Membership in lodges organized under ORS 748.309. If provided in the laws of the society, other persons may become members of a lodge organized under ORS 748.309 subsequent to its organization and may be initiated into and hold membership in the lodge. Individual benefit certificates may be issued to them. The lodges shall in all other respects be subject to the laws of the society. [1987 c.490 §40]
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[Repealed or reserved.]
ORS 748.315 [1967 c.359 §623; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.316 Payments for group benefits. (1) The monthly or other payments to be made to the society on or for any group benefit certificate may be made by the employer, or by the employer and employees jointly, or as provided in the contract
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(2) When the payments are made by the employer and the employees jointly and the benefits under the group certificate are offered to all eligible employees of the employer, not less than 75 percent of the employees must be included under the group certificate. [1987 c.490 §38]
ORS 748.319 Group certificates issued by foreign or alien society or by domestic society in foreign or alien jurisdiction. (1) A group certificate, when issued in this state by any foreign or alien society, may contain, when issued, any provision required by the laws of the state or country under which the society is organized
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(2) Group certificates issued in other states or countries by a domestic society may contain any provision required by the laws of the other state or country. [1987 c.490 §39]
ORS 748.320 [1967 c.359 §624; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.322 Continuation of membership in society after cancellation, discontinuance or nonrenewal of group certificate. If any group certificate is canceled, discontinued or not renewed, or if any individual member of a group ceases to be a member of the group, the members of the group or any individual member who ceases to be a member of the group may be permitted to continue membership in the society for the same amount of protection at the required rate of monthly or other payment and in all other respects as provided in the laws of the society. [1987 c.490 §41]
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[Repealed or reserved.]
ORS 748.325 [1967 c.359 §625; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.330 [1967 c.359 §626; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.335 [1967 c.359 §627; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.340 [1967 c.359 §628; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.345 [1967 c.359 §629; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.350 [1967 c.359 §630; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.355 [1967 c.359 §631; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.360 [1967 c.359 §632; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.365 [1967 c.359 §633; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.370 [1967 c.359 §634; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.375 [1967 c.359 §635; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.380 [1967 c.359 §636; repealed by 1987 c.490 §58]
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FINANCIAL PROVISIONS
ORS 748.401 Value of benefit and amount of options. (1) For certificates issued prior to January 1, 1989, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan or other option granted shall comply with the provisions of law applicable immediately prior to January 1, 1988
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(2) For certificates issued on or after January 1, 1989, for which reserves are computed on the Commissioner’s 1941 Standard Ordinary Mortality Table, the Commissioner’s 1941 Standard Industrial Table, the Commissioner’s 1958 Standard Ordinary Mortality Table, the Commissioner’s …
ORS 748.403 Standards of valuation for certificates. (1) Standards of valuation for certificates issued prior to January 1, 1989, shall be those provided by the laws applicable immediately prior to January 1, 1988
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(2) The minimum standards of valuation for certificates issued on or after January 1, 1989, shall be based on the following tables: (a) For certificates of life insurance, the Commissioner’s 1941 Standard Ordinary Mortality Table, the Commissioner’s 1941 Standard Industrial Morta…
ORS 748.405 [Formerly 740.810; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.406 Financial statement; filing; fee; valuation. (1) Every society transacting business in this state shall annually file with the Director of the Department of Consumer and Business Services on or before March 1, unless the time has been extended by the director, a true statement of its financial condition, transactions and affairs for the preceding calendar year and shall pay the applicable fee established by the director. The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the director
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(2) As part of the annual statement required by subsection (1) of this section, on or before March 1, each society shall file with the director a valuation of its certificates in force on December 31 last preceding. The director may extend the time for filing the valuation for no…
ORS 748.409 Assets of society; variable contracts. (1) All assets shall be held, invested and disbursed for the use and benefit of the society and no member or beneficiary shall have or acquire individual rights or become entitled to any apportionment on the surrender of any part, except as provided in the benefit contract
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(2) A society may create, maintain, invest, disburse and apply any special fund or funds necessary to carry out any purpose permitted by the laws of the society. (3) Pursuant to resolution of its supreme governing body a society may: (a) Establish and operate one or more separate…
ORS 748.410 [Formerly 740.820; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.412 Investment of funds. A society shall invest its funds only in investments that are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state, district, territory, country or province in which it is incorporated, shall be held to meet the requirements of this section for the investment of funds. [1987 c.490 §22]
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[Repealed or reserved.]
ORS 748.414 Funds exempt from certain taxes. Every society organized or licensed under this chapter is hereby declared to be a charitable and benevolent institution, and all of its funds shall be exempt from all and every state, county, district, municipal and school tax, other than taxes on real estate and office equipment. [1987 c.490 §24]
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[Repealed or reserved.]
ORS 748.415 [Formerly 740.840; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.420 [Formerly 740.850; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.425 [Formerly 740.860; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.430 [1967 c.359 §642; repealed by 1987 c.490 §58]
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ENFORCEMENT
ORS 748.501 Examination. (1) The Director of the Department of Consumer and Business Services, or any person the director may appoint, may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this state in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies
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(2) The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the director. [1987 c.490 §29]
ORS 748.503 Investigation of society; notice of deficiencies; action by Attorney General; hearing. (1) The Director of the Department of Consumer and Business Services shall notify the society of any deficiency or deficiencies, and state in writing the reasons for dissatisfaction, when the director, upon investigation, finds that a domestic society
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(a) Has exceeded its powers; (b) Has failed to comply with any provisions of this chapter; (c) Is not fulfilling its contracts in good faith; (d) Has a membership of less than 400 after an existence of one year or more; (e) Is conducting business fraudulently or in a manner hazar…
ORS 748.505 [1967 c.359 §643; repealed by 1987 c.490 §58]
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[Repealed or reserved.]
ORS 748.506 Investigation of foreign or alien society; notice of deficiencies; revocation or suspension of authority. (1) The Director of the Department of Consumer and Business Services shall notify the society of any deficiency or deficiencies, and state in writing the reasons for dissatisfaction, when the director, upon investigation, finds that a foreign or alien society transacting or applying to transact business in this state
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(a) Has exceeded its powers; (b) Has failed to comply with any of the provisions of this chapter; (c) Is not fulfilling its contracts in good faith; or (d) Is conducting its business fraudulently or in a manner hazardous to its members, creditors or the public. (2) The director s…
ORS 748.509 Validity of petition for injunction. No application or petition for injunction against any domestic, foreign or alien society, or lodge thereof, shall be recognized in any court of this state unless made by the Attorney General upon request of the Director of the Department of Consumer and Business Services. [1987 c.490 §33]
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[Repealed or reserved.]