ORS 735.190: Incorporation of captive reinsurer.

(1) A captive reinsurer must be incorporated as a stock insurer with its capital divided into shares and held by the captive reinsurer’s shareholders. In incorporating, a captive reinsurer must comply with the requirements of ORS 735.164.

      (2) The capital stock of a captive reinsurer must be issued at par value or greater.

      (3) At least one member of the board of directors of a captive reinsurer incorporated in this state must be a resident of this state.