(2) On motion of the director or the insurer against whom an order under this section is issued, or on the court’s own motion, the court may hold such hearings from time to time as the court determines are desirable, after such notice as it determines appropriate, and may extend, shorten or modify the terms of the order.
(3) The court may vacate an order issued under this section if the court determines that the director has not commenced a rehabilitation or liquidation proceeding within a reasonable time.
(4) An order of the court directing a rehabilitation or liquidation proceeding vacates the order issued under this section.
(5) Entry of a seizure order under this section does not constitute an anticipatory breach of any contract of the insurer.
(6) At any time after a court issues an order under this section, the court may direct that notice of the order be given to a person if the court determines both of the following:
(a) That the person was not notified of the hearing on the order and did not appear at the hearing.
(b) That the interest of the person is or will be substantially affected by the order. [1989 c.425 §11]
Structure 2021 Oregon Revised Statutes
Volume : 18 - Financial Institutions, Insurance
Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers
Section 734.014 - Definitions.
Section 734.026 - "Domiciliary," "ancillary" and "reciprocal state" defined.
Section 734.043 - Supervision of insurer; order; consequences; insurer remedies.
Section 734.047 - Time for correction of condition leading to order of supervision.
Section 734.059 - Request for court order.
Section 734.063 - Court order; hearings; notice.
Section 734.067 - Review of court order.
Section 734.110 - Jurisdiction of delinquency proceedings; venue.
Section 734.113 - Application of Oregon Receivership Code.
Section 734.120 - Exclusive remedy; appeal.
Section 734.130 - Commencement of delinquency proceeding.
Section 734.140 - Injunctions.
Section 734.142 - Cooperation with director in delinquency proceedings.
Section 734.144 - Immunity of certain persons from civil liability.
Section 734.150 - Grounds for rehabilitation of domestic insurers.
Section 734.160 - Order of rehabilitation for domestic insurers.
Section 734.170 - Grounds for liquidation of domestic insurers.
Section 734.180 - Order of liquidation of domestic insurers.
Section 734.190 - Grounds for conservation of foreign and alien insurers.
Section 734.200 - Conservation or ancillary receivership of foreign and alien insurers.
Section 734.210 - Conduct of delinquency proceedings for domestic insurers.
Section 734.220 - Powers of director as receiver.
Section 734.240 - Conduct of delinquency proceedings for foreign insurers.
Section 734.260 - Claims of nonresidents against domestic insurers.
Section 734.270 - Claims of residents against foreign insurers.
Section 734.280 - Form of claim; notice; hearing.
Section 734.290 - Priority of preferred claims.
Section 734.350 - Voidable transfers.
Section 734.360 - Preference of claims.
Section 734.380 - Allowance of certain claims.
Section 734.390 - Time to file claims.
Section 734.400 - Report for assessment; domestic mutual and reciprocal insurers.
Section 734.410 - Levy of assessment; domestic mutual and reciprocal insurers.
Section 734.430 - Publication and transmittal of assessment order.
Section 734.440 - Judgment upon assessment.
Section 734.510 - Definitions for ORS 734.510 to 734.710.
Section 734.570 - Required functions of association.
Section 734.579 - Recoupment assessments; rules.
Section 734.580 - Discretionary functions of association.
Section 734.590 - Plan of operation; submission to director; rules.
Section 734.600 - Contents of plan of operation.
Section 734.640 - Claim priority.
Section 734.695 - Liability of insured of insolvent insurer.
Section 734.700 - Defense of claims on default of insolvent insurer.
Section 734.760 - Definitions for ORS 734.750 to 734.890.
Section 734.790 - Application.
Section 734.815 - Assessment of members; classes of assessments; amounts; refunds.
Section 734.820 - Plan of operation; submission of amendments to director; rules; contents of plan.
Section 734.825 - Powers and duties of director.
Section 734.835 - Assessments offset against tax liabilities; rate.