Oregon Code § 742.160·Enacted ·Last updated March 01, 2026
Statute Text
Effect
of novation of policy under assumption reinsurance agreement.
If a policyholder consents to a
transfer as provided in ORS 742.158, or if a transfer is effected under ORS
742.162, the effect of the novation of the policy subject to the assumption
reinsurance agreement is that the transferring insurer is relieved of all
insurance obligations or risks transferred under the assumption reinsurance
agreement and the assuming insurer becomes directly and solely liable to the
policyholder for those insurance obligations and risks. [1995 c.30 §7]
Plain English Explanation
This Oregon statute addresses Effect
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 742.160
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Effect
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