(1) Dissenters’ rights provided in ORS § 60.551 to 60.594 are not available to any member, whether or not eligible, of a converting mutual insurer or a restructuring mutual holding company.

(2) An action challenging the validity of or arising from the conversion, reorganization or restructuring or other acts taken or proposed to be taken under the plan or ORS § 732.600 to 732.630 must be commenced not later than the 60th day after the effective date of the conversion, reorganization or restructuring or other acts so taken and may be pursued only if they are unlawful or fraudulent. There shall be a rebuttable presumption that any act set forth in an order of the Director of the Department of Consumer and Business Services is lawful. [1997 c.771 § 15]

[1971 c.373 § 5; 1993 c.447 § 39; renumbered 732.553 in 1993]

[1971 c.373 § 6; 1993 c.447 § 40; renumbered 732.554 in 1993]

RISK MANAGEMENT FRAMEWORKS, OWN RISK AND SOLVENCY ASSESSMENTS AND CORPORATE GOVERNANCE ANNUAL DISCLOSURES

(Own Risk and Solvency Assessments)