Oregon Revised Statutes Chapter 735 § 735.420 — Declaration of ineligibility of surplus lines insurer
Oregon Revised Statutes Chapter 735 ·
Oregon Code § 735.420·Enacted ·Last updated March 01, 2026
Statute Text
Declaration of ineligibility of surplus lines insurer.
(1) The Director of the Department
of Consumer and Business Services may declare a surplus lines insurer described
in ORS 735.415 (1) ineligible if the director has reason to believe that the
surplus lines insurer:
(a) Is in unsound
financial condition;
(b) Is no longer
eligible under ORS 735.415;
(c) Has willfully
violated the laws of this state; or
(d) Does not make
reasonably prompt payment of just losses and claims in this state or elsewhere.
(2) The director
shall promptly mail notice of all such declarations to each surplus lines
licensee. [1987 c.774 §121; 2001 c.191 §44d]
Plain English Explanation
This Oregon statute addresses Declaration of ineligibility of surplus lines insurer. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 735.420
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Declaration of ineligibility of surplus lines insurer. Read the full statute text above for details.
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The formal citation is Oregon Code § 735.420. Use this format in legal documents and court filings.
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