OAR 836-027-0005: Definitions

(1) Unless the context otherwise requires, as used in OAR 836-027-0005 to 836-027-0180: (a) "Executive officer" means chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller and any other individual performing functions corresponding to those performed by the foregoing officers under whatever title. (b) "Foreign insurer" includes an alien insurer except where specifically noted otherwise. (c) "Form A" means the form prescribed by OAR 836-027-0100. (d) "Form B" means the form prescribed by OAR 836-027-0010. (e) "Form C" means the form prescribed by OAR 836-027-0012. (f) "Form D" means the form prescribed by OAR 836-027-0160. (g) "Form E" means the form prescribed by OAR 836-027-0125. (h) "Form F" means the form prescribed by OAR 836-027-0140. (i) “Group capital calculation” means a calculation made in accordance with instructions that the National Association of Insurance Commissioners publishes for the purpose of specifying the method of calculation. The director shall prescribe, on a periodic basis, the instructions published by the National Association of Insurance Commissioners. The director’s decision to prescribe the instructions for the method of calculation shall be posted on the department’s Division of Financial Regulation website at dfr.oregon.gov. (j) "Ultimate controlling person" means the person who is not controlled by any other person. (2) Unless the context requires otherwise, other terms used in OAR 836-027-0005 to 836-027-0180 are used as defined in ORS 732.548. (3) As required by Oregon Laws 2025, chapter 174, section 1, the “NAIC liquidity stress test framework” means a method for testing an insurer’s liquidity that the National Association of Insurance Commissioners describes in a publication by the association that includes instructions and reporting templates and that identifies scope criteria that apply to a specific data year. The director shall prescribe, on a periodic basis, the method as described in a publication by the National Association of Insurance Commissioners. The director’s decision to prescribe the method shall be posted on the department’s Division of Financial Regulation website at dfr.oregon.gov. [ED. NOTE: Exhibits referenced are available from the agency.]