Oregon Code § 731.640·Enacted ·Last updated March 01, 2026
Statute Text
Eligible deposits; rules.
(1) Deposits which are required or permitted under the Insurance Code shall
consist only of the following:
(a) Cash.
(b) Amply secured
obligations of the United States, a state or a political subdivision thereof.
(c) Certificates
of deposit or other investments described in ORS 733.650 (4). The Director of
the Department of Consumer and Business Services may promulgate rules to limit
such investments.
(d) A surety
bond, approved by the director, executed by an authorized surety insurer that
is not under common ownership, management or control with the person making the
deposit. This paragraph does not apply to deposits made by surety insurers or
to workers compensation deposits made under ORS 731.628.
(e) Amply secured
obligations of a corporation rated by the National Association of Insurance
Commissioners as Class 1. This paragraph applies only to that portion of the
total deposit that exceeds $50 million. The director may adopt rules to require
periodic review of the secured obligations of a corporation allowed under this
paragraph.
(2) Deposits of
domestic insurers made pursuant to the laws of other jurisdictions shall
consist of cash or securities as required or permitted by the laws of such
jurisdictions. [1967 c.359 §121; 1973 c.450 §1; 1981 c.854 §61; 1999 c.196 §6a;
2003 c.123 §1]