Oregon Revised Statutes Chapter 743 § 743.047 — Exemption of proceeds of group life insurance
Oregon Revised Statutes Chapter 743 ·
Oregon Code § 743.047·Enacted ·Last updated March 01, 2026
Statute Text
Exemption of proceeds of group life insurance.
(1) A policy of group life
insurance or the proceeds thereof payable to a person or persons other than the
individual insured or the individuals estate shall be exempt from debts and
claims of creditors or representatives of the individual insured and, in the
event of bankruptcy of the individual insured, from all demands in legal
proceedings under such bankruptcy.
(2) The
provisions of subsection (1) of this section do not apply to group life
insurance issued to a creditor covering the creditors debtors to the extent
that such proceeds are applied to payment of the obligation for the purpose of
which the insurance was so issued. [Formerly 743.102]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 743.047
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Exemption of proceeds of group life insurance. Read the full statute text above for details.
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The formal citation is Oregon Code § 743.047. Use this format in legal documents and court filings.
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