Oregon Code § 748.406·Enacted ·Last updated March 01, 2026
Statute Text
Financial statement; filing; fee; valuation.
(1) Every society transacting business in this state
shall annually file with the Director of the Department of Consumer and
Business Services on or before March 1, unless the time has been extended by
the director, a true statement of its financial condition, transactions and
affairs for the preceding calendar year and shall pay the applicable fee
established by the director. The statement shall be in general form and context
as approved by the National Association of Insurance Commissioners for fraternal
benefit societies and as supplemented by additional information required by the
director.
(2) As part of
the annual statement required by subsection (1) of this section, on or before
March 1, each society shall file with the director a valuation of its
certificates in force on December 31 last preceding. The director may extend
the time for filing the valuation for not more than two calendar months. The
valuation shall be done in accordance with the standards specified in ORS
748.403. The valuation and underlying data shall be certified by a qualified
actuary or, at the expense of the society, verified by the actuary of the
department of insurance of the state of domicile of the society. [1987 c.490 §27;
1991 c.182 §14]