Oregon Statutes 734.620 – Notification of insolvency to insured persons; revocation of designation of servicing facility
The Director of the Department of Consumer and Business Services may:
Terms Used In Oregon Statutes 734.620
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(1) Require the Oregon Insurance Guaranty Association to notify the insureds of an insolvent insurer of the determination of insolvency and of their rights under ORS § 734.510 to 734.710. Such notification may be by:
(a) Certified or first-class mail to the address of each such person as it last appears in the records of the director or the insurer;
(b) Publication in a newspaper of general circulation in this state if the addresses of those persons to be notified is not available from the records of the director or the insurer; or
(c) Any combination of the methods referred to in paragraphs (a) and (b) of this subsection that the association considers likely to inform the persons of their rights under ORS § 734.510 to 734.710.
(2) Revoke the designation of any servicing facility that the director finds is not processing and paying claims in the manner provided in the plan and in ORS § 734.510 to 734.710. [1971 c.616 § 13]