Oregon Code § 742.058·Enacted ·Last updated March 01, 2026
Statute Text
Return
of premium on destruction of property.
(1) In the event of the total destruction of any insured property, if the total
amount of loss or agreed loss is less than the total amount insured thereon,
the insurer or insurers shall return to the insured the portion of insurance
premium paid for the excess of the insurance over the loss. This amount shall
be paid at the same time and in the same manner as the loss.
(2) This section
does not apply to insurance on stocks of merchandise or property of fluctuating
values where the reduced rate percentage clause is made a part of the policy. [Formerly
744.090 and then 743.111]
Plain English Explanation
This Oregon statute addresses Return
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 742.058
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Return
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