Or. Admin. Code § 410-141-5375 - CCO INSOLVENCY AND DISSOLUTION: Voluntary Dissolution; Approval of Plan

(1) No CCO may be dissolved voluntarily until the Authority has approved a plan for liquidation of the CCO's assets and obligations.
(2) The plan of dissolution must provide for the reinsurance and assumption of all in-force CCO contracts to which the CCO is a party.
(3) The Authority shall require that the plan of dissolution provide adequate reserves in trust or otherwise for the satisfaction of all remaining obligations of the CCO.

Notes

Or. Admin. Code § 410-141-5375
DMAP 60-2019, adopt filed 12/18/2019, effective 1/1/2020; DMAP 143-2024, amend filed 12/29/2024, effective 1/1/2025

Statutory/Other Authority: ORS 413.042, 414.572, 414.591, 414.605, 415.013 & 415.101-415.430

Statutes/Other Implemented: ORS 414.570-414.686 & 415.001-415.430

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