Current through Register Vol. 63, No. 8, August 1, 2024
Section 410-141-5375 - CCO INSOLVENCY AND DISSOLUTION: Voluntary Dissolution; Approval of Plan(1) No CCO may be dissolved voluntarily until the Authority has approved a plan for liquidation of the CCO's assets and obligations.(2) The plan of dissolution must provide for the reinsurance and assumption of all in-force Member Contracts to which the CCO is a party.(3) The Authority shall require that the plan of dissolution provide adequate reserves in trust or otherwise for the satisfaction of all remaining obligations of the CCO.Or. Admin. R. 410-141-5375
DMAP 60-2019, adopt filed 12/18/2019, effective 1/1/2020Statutory/Other Authority: ORS 414.615, 414.625, 414.635, 414.651 & ORS 413.042
Statutes/Other Implemented: ORS 414.610 - 414.685