Or. Admin. R. 836-011-0100
Current through Register Vol. 63, No. 8, August 1, 2024
Section 836-011-0100 - Authority; Purpose; Scope(1) OAR 836-011-0100 to 836-011-0230 are adopted by the Director pursuant to ORS 731.488. The purpose of OAR 836-011-0100 to 836-011-0230 is to improve the Director's surveillance of the financial condition of insurers by requiring the following: (a) An annual audit of financial statements reporting the financial position and the results of operations of insurers by independent certified public accountants;(b) Communication of Internal Control Related Matters Noted in an Audit; and(c) Management's Report of Internal Control over Financial Reporting.(2) OAR 836-011-0100 to 836-011-0230 apply to every authorized insurer, subject to exemptions in OAR 836-011-0130.(3) OAR 836-011-0100 to 836-011-0230 do not limit the Director's authority to order, conduct or perform examinations of insurers under the Insurance Code.Or. Admin. R. 836-011-0100
ID 4-1992, f. & cert. ef. 3-26-92; ID 22-2002, f. & cert. ef. 11-27-02; ID9-2008, f. 6-30-08, cert. ef. 7-1-08; ID 11-2008, f. & cert. ef. 7-29-08Stat. Auth.: ORS 731.244 & 731.488
Stats. Implemented: ORS 731.488