Oregon Statutes 278.415 – Department authorization of agency insurance purchases; exceptions
Current as of: 2023 | Check for updates
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(1) A state agency may not purchase insurance except as authorized by the Oregon Department of Administrative Services and in accordance with the terms, conditions and procurement methods as may be established by the department, except for the transaction of workers’ compensation insurance and reinsurance business by the State Accident Insurance Fund Corporation.
Terms Used In Oregon Statutes 278.415
- agency: means each state branch, institution, department, board, commission or activity of whatever nature. See Oregon Statutes 278.005
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the Oregon Department of Administrative Services. See Oregon Statutes 278.005
(2) This section does not apply to:
(a) Professional liability insurance acquired under ORS § 9.080 (2);
(b) Insurance for employee benefits; or
(c) Loan cancellation life insurance procured by the Department of Veterans’ Affairs under ORS § 407.465. [1985 c.731 § 3; 2009 c.29 § 2]
INSURANCE FUND