Oregon Code § 732.584·Enacted ·Last updated March 01, 2026
Statute Text
Examinations; penalty; costs.
(1)(a) In addition to other powers that the Director of the Department of
Consumer and Business Services has under the Insurance Code to examine and
investigate insurers, the director may also order any insurer registered under
ORS 732.517 to 732.596 to produce books, records, accounts, papers, documents
and computer and other recordings the insurer or the insurers affiliates have
that are necessary for the director to ascertain the insurers financial
condition or to determine the insurers compliance with the Insurance Code. If
the insurer fails to comply with the directors order, the director may examine
the affiliates to obtain the information the director requires.
(b) In examining
the insurers financial condition, the director may determine the extent to
which the person that controls the insurer, the insurance holding company
system or an entity within the insurance holding company system may cause
enterprise risk to the insurer.
(c) In
determining compliance with the Insurance Code, the director may order an
insurer that is registered under ORS 732.517 to 732.596 to produce information
the insurer does not possess but to which the insurer might have access by
reason of a contractual relationship or a statutory obligation or by other
means. If the insurer cannot obtain the information the director requires, the
insurer shall provide the director with a detailed explanation of the reason
the insurer cannot obtain the information and shall identify the person that
possesses the information. If the director finds that the insurers explanation
is without merit, the director may impose a civil penalty on the insurer under
ORS 731.988 or may suspend or revoke the insurers certificate of authority.
(2) ORS 731.302
(2) applies to an examination the director conducts under subsection (1) of
this section, and an insurer shall otherwise pay the costs of an examination of
the insurer under this section as provided in ORS 731.316. [1993 c.447 §51;
2013 c.370 §29]