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ORS 735.400

Applied in 2 court decisions — leading case 197 Or. App. 147 - Schnitzer Investment Corp. v. Certain Underwriters at Lloyd's of London (2005)

Most recently applied in Palmrose v. Oregon Insurance Guaranty (May 2006)

1987 c.774 §117

ORS 735.400 to 735.495 shall be liberally construed and applied to promote its underlying purposes which include:

(1) Protecting persons seeking insurance in this state;

(2) Permitting surplus lines insurance to be placed with reputable and financially sound nonadmitted insurers and exported from this state pursuant to ORS 735.400 to 735.495;

(3) Establishing a system of regulation which will permit orderly access to surplus lines insurance in this state and encourage admitted insurers to provide new and innovative types of insurance available to consumers in this state; and

(4) Protecting revenues of this state.

Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.