(1) An insurer or insurance group has discretion as to the form and content of the insurer’s or insurance group’s responses to inquiries in a corporate governance annual disclosure so long as the responses provide information the Director of the Department of Consumer and Business Services requires to understand the insurer’s or insurance group’s corporate governance structure, policies and practices. The director may request additional information the director deems material and necessary to enable a clear understanding of the corporate governance policies and the reporting, information systems or controls that implement the policies.

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(2) Notwithstanding the discretion permitted to an insurer or insurance group under subsection (1) of this section, the insurer or insurance group shall prepare the corporate governance annual disclosure in a manner consistent with rules the director adopts under ORS § 732.680. The insurer or insurance group shall maintain documentation and supporting information for the corporate governance annual disclosure and make the documentation and supporting information available during an examination of the insurer or insurance group or otherwise at the director’s request. [2017 c.479 § 6]

See note under 732.650.

[1971 c.373 § 10; 1993 c.447 § 44; renumbered 732.566 in 1993]