Or. Admin. Code § 410-141-5230 - REPORTING AND APPROVAL OF CERTAIN TRANSACTIONS: Reports of Material Acquisitions And Dispositions Of Assets, and Changes to Ceded Reinsurance Agreements; Assumption Reinsurance
(1) Every
CCO shall file a report with the Authority disclosing material acquisitions and
dispositions of assets or material nonrenewals, cancellations or revisions of
ceded reinsurance agreements unless the subject transaction has been submitted
to the Authority for review, approval or information under or pursuant to
another provision of applicable law.
(2) The report required in subsection (1) is
due no later than the 15th day following the end of the calendar month in which
any of the reportable transaction occurred.
(3) A CCO shall not enter a transaction in
which the CCO assumes or transfers obligations or risks on contracts under an
Assumption Reinsurance Agreement or any equivalent agreement, unless the
Authority first approves the transaction.
Notes
Statutory/Other Authority: ORS 413.042, 414.572, 414.591 & 414.605
Statutes/Other Implemented: ORS 414.570-414.686 & 415.001-415.430
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