{"data":{"id":"us-or/ors-734.645","jurisdiction":"us-or","citation":"ORS 734.645","heading":"Liability of Oregon Insurance Guaranty Association when member insurer is subject to liquidation after assuming sole responsibility for insurance policy that other member issued; exception.","body":"(1) Notwithstanding any other provision of ORS 734.510 to 734.710, if an insurer assumes sole responsibility for an insurance policy that a member insurer issued and the insurer that assumes responsibility for the insurance policy is subject to liquidation, the Oregon Insurance Guaranty Association is subject under ORS 734.510 to 734.710 to a claim that arises from the insurance policy even if:\n      (a) The insurer that is subject to liquidation assumed sole responsibility for the insurance policy under an allocation, transfer, assumption or other operation in accordance with a law of this state that provides for dividing an insurer or allocating, transferring or assuming designated insurance policies; and\n      (b) A court order or novation released the member insurer from any obligation under the insurance policy.\n      (2) The association is not subject under ORS 734.510 to 734.710 to a claim that arises from an insurance policy if an insurer that was not a member insurer issued the insurance policy and a member insurer later assumed sole responsibility for the insurance policy under a novation or an allocation, transfer or assumption in accordance with a law of this state that provides for dividing an insurer or allocating, transferring or assuming designated insurance policies.","path":["18 - Financial Institutions, Insurance","56. Insurance","Chapter 734 — Rehabilitation, Liquidation and Conservation of Insurers"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors734.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:17Z","sha256":"155813e0b04eb1b9d3ed65c16ae17b3d4787d89df5f279121c7a6dbf5836a7a5","source_id":"us-or","stale":false,"prev":"us-or/ors-734.640","next":"us-or/ors-734.650"},"notice":"GroundRules: Original legal text. Not legal advice."}