Oregon Statutes 748.174 – Certificate of authority for foreign or alien society
No foreign or alien society shall transact business in this state without a certificate of authority issued by the Director of the Department of Consumer and Business Services. Any foreign or alien society desiring admission to this state shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any foreign or alien society may be authorized to transact business in this state upon a showing that its assets are invested in accordance with the provisions of this chapter and upon filing with the director:
Terms Used In Oregon Statutes 748.174
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Certificate: means the document issued as written evidence of the benefit contract. See Oregon Statutes 748.103
- Oath: A promise to tell the truth.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Society: means fraternal benefit society, unless otherwise indicated. See Oregon Statutes 748.103
(1) A duly certified copy of its articles of incorporation;
(2) A copy of its bylaws, certified by its secretary or corresponding officer;
(3) A power of attorney to the director as required by the director;
(4) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the director, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country, satisfactory to the director;
(5) Certification from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business in the state, territory, province or country;
(6) Copies of its certificate forms; and
(7) Such other information as the director may deem necessary. [1987 c.490 § 30; 1991 c.182 § 11]
[1967 c.359 § 610; repealed by 1987 c.490 § 58]