Oregon Code § 734.770·Enacted ·Last updated March 01, 2026
Statute Text
Purpose.
The
purpose of ORS 734.750 to 734.890 is to protect the persons specified in ORS
734.790, subject to certain limitations, against failure in the performance of
contractual obligations, under life and health insurance policies and annuity
contracts specified in ORS 734.790, because of the impairment or insolvency of
the insurer issuing such policies or contracts. To provide this protection:
(1) An
association of insurers is created to enable the guarantee of payment of
benefits and continuation of coverages;
(2) Members of
the Oregon Life and Health Insurance Guaranty Association are subject to
assessment to provide funds to carry out the purpose of ORS 734.750 to 734.890;
and
(3) The
association is authorized to assist the Director of the Department of Consumer
and Business Services, in the prescribed manner, in the detection and
prevention of insurer impairments or insolvencies. [1975 c.251 §3; 1991 c.811 §2]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 734.770
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Purpose. Read the full statute text above for details.
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