734.047 Time for correction of condition leading to order of supervision

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OR Code › Title 56 › Chapter 734 › Section 734.047

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

(1) An insurer placed under supervision must correct, eliminate or remedy the acts, transactions or practices that are the basis for the order of supervision and otherwise comply with the requirements of the Director of the Department of Consumer and Business Services within the period of time allowed by the director, not to exceed 60 days, after the date on which the order is served on the insurer.

(2) If the director determines that the conditions giving rise to the supervision still exist at the end of the supervision period established in subsection (1) of this section, the director may extend the period. [1989 c.425 §7; 1993 c.447 §89]

Source: Section 734.047 — Time for correction of condition leading to order of supervision , https://www.oregonlegislature.gov/bills_laws/ors/ors734.html (accessed May 26, 2025).

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.