(2) All information reported in accordance with ORS 732.552, 732.554, 732.574 and 732.576 is confidential and may not be made public except as provided in this subsection. The director may disclose reported information only as provided in ORS 705.137 or only if:
(a) The director obtains the prior written consent of the insurer to which the reported information pertains; or
(b) The director, after giving the insurer and the insurer’s affiliates that would be affected by the disclosure notice and opportunity to be heard, determines that disclosing the information will serve the interest of policyholders, shareholders or the public. If the director determines that disclosing the information will serve one or more of such interests, the director may publish all or any part of the information in any manner that the director determines is appropriate.
(3) The director’s sharing of information under ORS 732.517 to 732.596 does not delegate regulatory or rulemaking authority. The director is solely responsible for administering, executing and enforcing ORS 732.517 to 732.596. [1993 c.447 §52; 2001 c.377 §11; 2013 c.370 §30; 2015 c.547 §21]
Note: The amendments to 732.586 by section 21, chapter 547, Oregon Laws 2015, apply for a limited period. See section 28, chapter 547, Oregon Laws 2015 (note below). The text that is applicable for the limited period is set forth for the user’s convenience.
(1) All information, documents and copies of information or documents obtained by or disclosed to the Director of the Department of Consumer and Business Services or any other person in the course of an examination or investigation under ORS 732.584 are subject to the provisions of ORS 731.312.
(2) All information reported in accordance with ORS 732.552, 732.554, 732.569, 732.574, 732.576 and 732.662 is confidential and may not be made public except as provided in this subsection. The director may disclose reported information only as provided in ORS 705.137 or only if:
(a) The director obtains the prior written consent of the insurer to which the reported information pertains; or
(b) The director, after giving the insurer and the insurer’s affiliates that would be affected by the disclosure notice and opportunity to be heard, determines that disclosing the information will serve the interest of policyholders, shareholders or the public. If the director determines that disclosing the information will serve one or more of such interests, the director may publish all or any part of the information in any manner that the director determines is appropriate.
(3) The director’s sharing of information under ORS 732.517 to 732.592 [series became 732.517 to 732.596] does not delegate regulatory or rulemaking authority. The director is solely responsible for administering, executing and enforcing ORS 732.517 to 732.592.
Note: Section 28 (1), chapter 547, Oregon Laws 2015, provides:
Sec. 28. (1) Section 14 of this 2015 Act and the amendments to ORS 732.586, 733.302, 733.304, 733.316, 733.318, 743.204 and 743.215 by sections 21 to 27 of this 2015 Act apply to all policies and contracts, as appropriate, that are issued on or after the operative date for the Standard Nonforfeiture Law for Life Insurance under ORS 743.204 and before the operative date of the valuation manual.
[2015 c.547 §28(1)]