Oregon Code § 742.043·Enacted ·Last updated March 01, 2026
Statute Text
Binders.
(1)
Binders or other contracts for temporary insurance may be made orally or in
writing, and shall be deemed to include all the usual terms of the policy as to
which the binder was given together with such applicable indorsements as are
designated in the binder, except as superseded by the clear and express terms
of the binder.
(2) Except as
provided in subsection (3) of this section and ORS 746.195, within 90 days
after issue of a binder a policy shall be issued in lieu thereof, including
within its terms the identical insurance bound under the binder and the premium
therefor.
(3) If the policy
has not been issued a binder may be extended or renewed beyond such 90 days
with the written approval of the Director of the Department of Consumer and
Business Services, or in accordance with such rules relative thereto as the
director may promulgate.
(4) This section
does not apply to life or health insurance. [Formerly 743.075]
Plain English Explanation
This Oregon statute addresses Binders. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 742.043
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Binders. Read the full statute text above for details.
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The formal citation is Oregon Code § 742.043. Use this format in legal documents and court filings.
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