Or. Admin. Code § 836-028-0035

Current through Register Vol. 63, No. 10, October 1, 2024

Section 836-028-0035 - Registration of Foreign Risk Retention Groups; Forms

Before doing business in this state, a risk retention group chartered in a state other than this state shall submit to the Director the following documents:

(1) A registration. The registration must be made on the form prescribed by the Director.

(2) A plan of operation or feasibility study, certified by the state of domicile or incorporation.

(3) A copy of the most recent financial statement of the risk retention group, certified by the state of domicile or incorporation, with evidence that the financial statement was certified by an independent certified public account.

(4) A statement of opinion on loss and loss adjustment expense reserves, certified by a member of the American Academy of Actuaries or by a loss reserve specialist qualified under criteria established by the National Association of Insurance Commissioners as of the effective date of this rule.

(5) A copy of the most recent examination report conducted by the Insurance Department of the state of domicile or incorporation.

(6) An appointment of the Director as the agent for services of legal documents for the risk retention group. The appointment must be made on the form prescribed by the Director.

Or. Admin. Code § 836-028-0035

IC 7-1988, f. & cert. ef. 4-14-88; ID 19-2006, f. & cert. ef. 9-26-06

Forms referenced are available from the agency.

Stat. Auth.: ORS 731, 735 & 746

Stats. Implemented: ORS 735.315