ORS 735.190: Incorporation of captive reinsurer.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
(1) A captive reinsurer must be incorporated as a stock insurer with its capital divided into shares and held by the captive reinsurer’s shareholders. In incorporating, a captive reinsurer must comply with the requirements of ORS 735.164. (2) The capital stock of a captive reinsurer must be issued at par value or greater. (3) At least one member of the board of directors of a captive reinsurer incorporated in this state must be a resident of this state. [2012 c.84 §22] MARKET ASSISTANCE PLANS; JOINT UNDERWRITING ASSOCIATIONS
Official history and status
History: Note: See note under 735.150.
This rule cites
- ORS 735.164 — resolved
Cited by
- ORS 735.150: Definitions for ORS 735.150 to 735.190.
- ORS 735.152: Application of laws.
- ORS 735.154: Rules.
- ORS 735.156: Confidentiality of documents and materials; public disclosure.
- ORS 735.158: Certificate of authority; restriction on types of insurance; requirements for certification; requirements for corporations; fees; expiration and renewal of certificate.
- ORS 735.164: Incorporation of pure captive insurer and association captive insurer; application; fee; approval; alien captive insurer; application of corporation laws.
- ORS 735.168: Allowable risks for captive insurer; risk distribution pool; annual actuarial opinion; rules.
- ORS 735.172: Reporting; contents; filing date; waiver of annual statement for alien captive insurer; rules.
- ORS 735.174: Examination; frequency; scope; payment of expenses.
- ORS 735.176: Compliance with sound actuarial principles.
- ORS 735.178: Suspension or revocation of certificate of authority.
- ORS 735.180: Branch captive insurer as pure captive insurer; rules.
- ORS 735.182: Examination of branch captive insurer and alien captive insurer; payment of charges and expenses.
- ORS 735.188: Application of captive reinsurer for certificate of authority.
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors735.html