2021 Oregon Revised Statutes
Chapter 734 - Rehabilitation, Liquidation and Conservation of Insurers
Section 734.560 - Association board of directors; terms; vacancies; compensation and expenses; quorum.


(2) In making or approving selections to the board, the director shall consider, among other things, whether member insurers are fairly represented.
(3) A member of the board shall receive no compensation for services as a member. However, a member shall be reimbursed by the association for actual and necessary travel and other expenses incurred by the member in the performance of duties.
(4) A majority of the members of the board constitutes a quorum for the transaction of business. [1971 c.616 ยง7]

Structure 2021 Oregon Revised Statutes

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 734.560 - Association board of directors; terms; vacancies; compensation and expenses; quorum.

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 734.610 - Notification to association of insurer insolvency; furnishing association with premium information.

Section 734.620 - Notification of insolvency to insured persons; revocation of designation of servicing facility.

Section 734.630 - Assignment of claim rights; filing statements of paid claims; effect of claim settlements.

Section 734.635 - Disbursing assets of insolvent insurer to association; court approval; notice to other states.

Section 734.640 - Claim priority.

Section 734.650 - Notifying director of impaired insurers; examination; reports on impaired insurers.

Section 734.695 - Liability of insured of insolvent insurer.

Section 734.700 - Defense of claims on default of insolvent insurer.

Section 734.710 - Administration of delinquency proceeding claims and expenses; application of ORS 734.014, 734.026 and 734.110 to 734.440 to insurers.

Section 734.760 - Definitions for ORS 734.750 to 734.890.

Section 734.770 - Purpose.

Section 734.790 - Application.

Section 734.800 - Oregon Life and Health Insurance Guaranty Association; required members; required accounts.

Section 734.805 - Association board of directors; terms; selection; vacancies; compensation and expenses.

Section 734.810 - Duties and powers of association; termination of obligations; limit of obligations.

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 734.830 - Notifying director of impaired insurers; examination; reports on impaired insurers.

Section 734.835 - Assessments offset against tax liabilities; rate.

Section 734.840 - Conduct of liquidation, rehabilitation or conservation proceeding involving impaired or insolvent insurer.