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ORS 731.142 "Stock," "Mutual" and "Reciprocal" Insurer
Library | Oregon Statutes |
Edition | 2023 |
Currency | Current through legislation effective January 1, 2024 |
Year | 2023 |
Citation | ORS 731.142 |
(1) "Stock insurer" means an incorporated insurer whose capital is divided into shares and owned by its stockholders.
(2) "Mutual insurer" means an incorporated insurer without capital stock and the governing body of which is elected by its policyholders. This definition does not exclude as a "mutual...
(3) "Reciprocal insurer" means an unincorporated aggregation of persons known as "subscribers," operating individually and collectively through an attorney in fact common to all such persons, interexchanging among themselves reciprocal agreements of indemnity.
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