Oregon Statutes 656.636 – Reserves in Industrial Accident Fund for awards for permanent disability or death
For every case where the State Accident Insurance Fund Corporation must pay an award or benefits for death or permanent total disability or permanent partial disability, the State Accident Insurance Fund Corporation forthwith shall set aside in the Industrial Accident Fund in a reserve account the amount required to equal, together with the anticipated interest increment, the present worth of the installments payable on account of that injury. The number of installments shall be computed in case of permanent total disability or death according to the ages of the beneficiaries, and according to the actuarial practices in the insurance field as recommended by the Director of the Department of Consumer and Business Services and, in the case of permanent partial disability, according to the schedule in ORS § 656.214 and 656.216. [Formerly 656.456; 1971 c.768 § 4; 1973 c.614 § 7; 1974 c.41 § 10; 1977 c.200 § 1; 1977 c.804 § 21; 1979 c.839 § 15; 1979 c.845 § 4; 1981 c.854 § 45; 1983 c.391 § 2; 1985 c.739 § 2]
Terms Used In Oregon Statutes 656.636
- 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.
[1979 c.334 § 2; 1983 c.391 § 3; repealed by 1985 c.739 § 3]
[Formerly 656.460; 1969 c.536 § 4; 1971 c.768 § 5; 1977 c.804 § 22; repealed by 1981 c.854 § 1]