(a) All receivers responsible for the conduct of a delinquency proceeding, including present and former receivers.
(b) All employees of the receiver. For purposes of this section, such employees include all present and former special deputies and assistant special deputies appointed by the Director of the Department of Consumer and Business Services and all persons whom the director, special deputies, or assistant special deputies have employed to assist in a delinquency proceeding. Unless designated as special deputies, attorneys, accountants, auditors and other professional persons or firms who are retained by the receiver as independent contractors and their employees are not entitled to protection under this section.
(2) The receiver and employees of the receiver shall have official immunity and shall be immune from civil action and liability, both personally and in their official capacities, for any tort claim or demand, whether groundless or otherwise, arising out of any alleged act, error or omission of the receiver or any employee occurring in the performance of their duties. For purposes of this section, "tort" has the meaning given that term in ORS 30.260.
(3) The receiver and employees of the receiver shall be indemnified from the assets of the insurer against any tort claim arising out of any alleged act, error or omission of the receiver or any employee occurring in the performance of their duties, whether personally or in the official capacity of the receiver or employee. Any indemnification made under this subsection is an administrative expense of the insurer.
(4) The provisions of subsections (2) and (3) of this section do not apply in case of malfeasance in office or willful or wanton neglect of duty.
(5) In any legal action in which the receiver is a defendant, the portion of any settlement relating to the alleged act, error or omission of the receiver is subject to the approval of the court before which the delinquency proceeding is pending. The court may not approve the portion of the settlement if it determines:
(a) That the claim did not occur in the performance of the receiver’s duties; or
(b) That the claim was caused by malfeasance in office or willful or wanton neglect of duty by of the receiver.
(6) This section shall not be construed or applied to deprive the receiver or any employee of any immunity, indemnity, benefits of law, rights or any defense otherwise available. [1993 c.447 §95]
Note: See note under 734.142.
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.