OAR 836-080-0105: Statutory Authority; Purpose; Effective Date

(1) OAR 836-080-0105 to 836-080-0155 are adopted pursuant to the general rulemaking authority of the Commissioner in ORS 731.244 to aid in the effectuation of ORS Chapter 746, especially the enforcement of 746.015, 746.075, 746.160(3), and 746.240, as well as the effectuation and enforcement of 737.205 to 737.348, 742.003, 742.005, 742.009 and other related provisions of the Oregon Insurance Code. (2) The purpose of OAR 836-080-0105 to 836-080-0155 is to regulate the content and use of participation provisions in commercial lines of property and casualty insurance policies so as to prevent misrepresentations and other unfair practices relating to future dividends, to prevent unfair and coercive practices in the allocation and payment of dividends, and to effectuate the statutes governing ratemaking, classification of risks, and approval of policy forms, with respect to commercial lines of property and casualty insurance issued on the participating basis. [Publications: Publications referenced are available from the agency.]