Or. Admin. Code § 410-141-5375
Current through Register Vol. 64, No. 1, January 1, 2025
Section 410-141-5375 - CCO INSOLVENCY AND DISSOLUTION: Voluntary Dissolution; Approval of Plan(1) No CCO may be dissolved voluntarily until the Authority has approved a plan for liquidation of the CCO's assets and obligations.(2) The plan of dissolution must provide for the reinsurance and assumption of all in-force CCO contracts to which the CCO is a party.(3) The Authority shall require that the plan of dissolution provide adequate reserves in trust or otherwise for the satisfaction of all remaining obligations of the CCO.Or. Admin. Code § 410-141-5375
DMAP 60-2019, adopt filed 12/18/2019, effective 1/1/2020; DMAP 143-2024, amend filed 12/29/2024, effective 1/1/2025Statutory/Other Authority: ORS 413.042, 414.572, 414.591, 414.605, 415.013 & 415.101-415.430
Statutes/Other Implemented: ORS 414.570-414.686 & 415.001-415.430