Oregon Code § 732.305·Enacted ·Last updated March 01, 2026
Statute Text
Board
of directors; qualifications.
A domestic insurer may not have fewer than five directors. A director need not
be a shareholder or member of the insurer unless the articles of incorporation
so require, but a director must be 21 years of age or older. At least five or
one-quarter of the directors, whichever is fewer, must be residents of this
state. A majority of directors must be persons who are not salaried officers of
the insurer. [1967 c.359 §174; 1997 c.771 §18; 2007 c.433 §1]
Plain English Explanation
This Oregon statute addresses Board
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 732.305
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Board
. Read the full statute text above for details.
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