Or. Admin. Code § 836-011-0100

Current through Register Vol. 63, No. 11, November 1, 2024

Section 836-011-0100 - Authority; Purpose; Scope

(1) OAR 836-011-0100 to 836-011-0230 are adopted by the Director pursuant to ORS 731.488. The purpose of OAR 836-011-0100 to 836-011-0230 is to improve the Director's surveillance of the financial condition of insurers by requiring the following:

(a) An annual audit of financial statements reporting the financial position and the results of operations of insurers by independent certified public accountants;

(b) Communication of Internal Control Related Matters Noted in an Audit; and

(c) Management's Report of Internal Control over Financial Reporting.

(2) OAR 836-011-0100 to 836-011-0230 apply to every authorized insurer, subject to exemptions in OAR 836-011-0130.

(3) OAR 836-011-0100 to 836-011-0230 do not limit the Director's authority to order, conduct or perform examinations of insurers under the Insurance Code.

Or. Admin. Code § 836-011-0100

ID 4-1992, f. & cert. ef. 3-26-92; ID 22-2002, f. & cert. ef. 11-27-02; ID9-2008, f. 6-30-08, cert. ef. 7-1-08; ID 11-2008, f. & cert. ef. 7-29-08

Stat. Auth.: ORS 731.244 & 731.488

Stats. Implemented: ORS 731.488