Except as otherwise provided in the Insurance Code or the articles of incorporation of an insurer, a domestic insurer shall have:

Terms Used In Oregon Statutes 732.205

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(1) The general and emergency powers granted to corporations by ORS § 60.077 and 60.081;

(2) The powers granted to insurers by the Insurance Code; and

(3) All powers necessary or convenient to effect any or all of the purposes for which the corporation is organized or to perform any or all of the acts expressly or impliedly authorized or required under the Insurance Code. [1967 c.359 § 164; 1987 c.846 § 6]

 

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