# ORS § 734.047: 734.047 Time for correction of condition leading to order of supervision

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.047

## Section

- **Citation:** ORS § 734.047
- **Heading:** 734.047 Time for correction of condition leading to order of supervision
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 56 / Chapter 734 / Section 734.047

## 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).

## Nearby sections

- [ORS § 734.014 734.014 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.014.md)
- [ORS § 734.026 734.026 “Domiciliary,” “ancillary” and “reciprocal state” defined](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.026.md)
- [ORS § 734.043 734.043 Supervision of insurer](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.043.md)
- [ORS § 734.047 734.047 Time for correction of condition leading to order of supervision](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.047.md)
- [ORS § 734.051 734.051 Actions by director during period of supervision](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.051.md)
- [ORS § 734.055 734.055 Action against person violating order of supervision](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.055.md)
- [ORS § 734.059 734.059 Request for court order](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.059.md)
- [ORS § 734.063 734.063 Court order](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.063.md)
- [ORS § 734.067 734.067 Review of court order](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.067.md)
- [ORS § 734.110 734.110 Jurisdiction of delinquency proceedings](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.110.md)
- [ORS § 734.113 734.113 Application of Oregon Receivership Code](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.113.md)
- [ORS § 734.120 734.120 Exclusive remedy](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.120.md)
- [ORS § 734.130 734.130 Commencement of delinquency proceeding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.130.md)
- [ORS § 734.140 734.140 Injunctions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.140.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T56_C734_S734.047. Check the current official text before relying on it. Not legal advice.