The directors, incorporators, and organizers of any insurer organized under the Insurance Code and those entitled to participation in the profits of such insurer shall be jointly and severally liable for all debts or liabilities of such insurer until it has received a certificate of authority. [1967 c.359 § 162]

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Terms Used In Oregon Statutes 732.165

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.