(a) Indorse on each of such duplicate originals of the articles the word "filed," and the month, day and year of the filing thereof.
(b) File one of such duplicate originals in the director’s office.
(c) Issue a certificate of incorporation to which the director shall affix the other duplicate original.
(d) Return to the incorporators or their representative the certificate of incorporation with the duplicate original.
(2) Upon the issuance of the certificate of incorporation, the insurer’s corporate existence shall begin and the insurer shall have all authority and power, subject to the limitations prescribed in the Insurance Code, as may be necessary and proper to complete its organization, obtain its initial capital and otherwise complete the requirements to qualify for a certificate of authority to transact the class or classes of insurance proposed in its articles of incorporation. In the case of an insurer without capital stock, the authority and power shall include the solicitation of applications for insurance and receipt in advance of premium payments for any insurance for which the proposed form of application, policies, literature and advertisements pertaining thereto have been filed with and approved by the director. An insurer shall not otherwise transact any business or incur any indebtedness until its certificate of authority to transact insurance has been granted.
(3) The issuance of the certificate of incorporation shall be conclusive evidence that all conditions precedent required to be performed by the incorporators have been complied with and that the insurer has been incorporated under the laws of this state, except as against this state in a proceeding to cancel or revoke the certification of incorporation or any certificate of authority to transact insurance or for involuntary dissolution of the insurer. [1967 c.359 §157; 1989 c.413 §8; 1991 c.331 §128]
Structure 2021 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Section 732.005 - Application of private corporation law; definitions.
Section 732.025 - Application for permit to organize stock insurer; rules.
Section 732.035 - Application for permit to organize insurer without capital stock.
Section 732.055 - Approval or disapproval of application for permit.
Section 732.095 - Articles of incorporation.
Section 732.105 - Filing articles of incorporation and surety bond, letter of credit or deposit.
Section 732.205 - General powers of insurers.
Section 732.220 - Exclusive agency contracts.
Section 732.225 - Impairment of required capitalization prohibited; rules.
Section 732.230 - Order to cure impairment; confidentiality of order.
Section 732.235 - Voluntary dissolution of insurer.
Section 732.240 - Trusts of life insurance proceeds.
Section 732.245 - Home office; records, assets; unlawful removal; rules.
Section 732.250 - Continuity of management in event of national emergency.
Section 732.320 - Supporting documents for expenditures.
Section 732.415 - Stock insurer’s proxies; regulation by director; rules.
Section 732.420 - "Equity security" defined; rules.
Section 732.425 - Application of insider trading regulation.
Section 732.435 - Suit to recover insider profits; exempted transactions; rules.
Section 732.440 - Prohibited sales of securities.
Section 732.445 - Establishing or maintaining primary or secondary market in securities; rules.
Section 732.465 - Members of domestic mutual insurers.
Section 732.470 - Voting rights of members of mutual insurer.
Section 732.475 - Members’ meetings and procedures of domestic mutual and reciprocal insurers.
Section 732.518 - Definitions for ORS 732.517 to 732.546.
Section 732.526 - Hearing on proposed activity; notice.
Section 732.528 - Approval of proposed activity; grounds for refusing approval.
Section 732.529 - Procedures following approval by director of proposed activity.
Section 732.531 - Acquisition of assets or insurance of mutual or reciprocal insurers.
Section 732.536 - Compliance with foreign or alien laws.
Section 732.538 - Effect of merger or consolidation.
Section 732.544 - Director’s order; effect; requirements for issuing; penalties.
Section 732.547 - Remedies for violation of ORS 732.517 to 732.546.
Section 732.548 - Definitions for ORS 732.517 to 732.596.
Section 732.549 - Subsidiaries.
Section 732.551 - Registration of insurer members of holding company systems.
Section 732.552 - Registration statement; form; contents.
Section 732.566 - Exemption from ORS 732.517 to 732.596 by director.
Section 732.574 - Standards for transactions within holding company; notice.
Section 732.576 - Dividends and distributions.
Section 732.584 - Examinations; penalty; costs.
Section 732.586 - Confidentiality of information; permitted disclosures.
Section 732.588 - Supervision, rehabilitation or liquidation.
Section 732.600 - Definitions for ORS 732.600 to 732.630.
Section 732.602 - Intent of ORS 732.600 to 732.630.
Section 732.604 - Permissible actions of domestic mutual insurer; rules.
Section 732.608 - Waiver of requirements of ORS 732.606.
Section 732.610 - Contents of plan.
Section 732.611 - Eligible member of domestic mutual insurer or mutual holding company; record date.
Section 732.614 - Effect of conversion.
Section 732.616 - Reorganization involving organization of stock holding company; subsidiaries.
Section 732.618 - Reorganization involving organization of mutual holding company; subsidiaries.
Section 732.622 - Restructuring of mutual holding company.
Section 732.626 - Plan review and approval; general provisions.
Section 732.650 - Definitions.
Section 732.653 - Scope; requirements and guidance.
Section 732.656 - Risk management framework.
Section 732.659 - Own risk and solvency assessment in accordance with manual.
Section 732.662 - Own risk and solvency summary report; attestation.
Section 732.666 - Exemptions; director’s requirements.
Section 732.669 - Documentation and supporting information; director’s review.
Section 732.686 - Maintenance of confidentiality and privilege; permitted disclosures; waivers.
Section 732.810 - Definitions for ORS 732.810 to 732.814.
Section 732.811 - Application of ORS 732.810 to 732.814.
Section 732.812 - Filing of financial statements; contract requirements; audit; reports to director.
Section 732.813 - Notice to prospective insured.
Section 732.814 - Authority of director over controlling producer and controlled insurer.
Section 732.820 - Interstate Insurance Product Regulation Compact.
Section 732.825 - State member of Interstate Insurance Product Regulation Commission.