Declaration of ineligibility of surplus lines insurer.

  1. Law
  2. Oregon Revised Statutes
  3. Financial Institutions, Insurance
  4. Alternative Insurance
  5. Declaration of ineligibility of surplus lines insurer.

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(a) Is in unsound financial condition;

(b) Is no longer eligible under ORS 735.415;

(c) Has willfully violated the laws of this state; or

(d) Does not make reasonably prompt payment of just losses and claims in this state or elsewhere.

(2) The director shall promptly mail notice of all such declarations to each surplus lines licensee. [1987 c.774 §121; 2001 c.191 §44d]


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