Oregon Statutes 733.635 – Approved activities of corporations in which investments authorized
Investments authorized by ORS § 733.630 may be made in corporations engaged, or which will be engaged, in one or more of the following insurance or ancillary businesses:
Terms Used In Oregon Statutes 733.635
- Appraisal: A determination of property value.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(1) Any kind of insurance business authorized by the jurisdiction in which it is incorporated.
(2) Any kind of business primarily related to the insurance business carried on by the parent.
(3) Acting as an insurance producer for its parent or for any of its parent’s insurer subsidiaries or intermediate insurer subsidiaries.
(4) Investing, reinvesting or trading in securities for its own account, that of its parent, any subsidiary of its parent, or any affiliate or subsidiary.
(5) Management of any investment company subject to or registered pursuant to the Federal Investment Company Act of 1940, as amended, including related sales and services.
(6) Acting as a broker-dealer subject to or registered pursuant to the Securities Exchange Act of 1934, as amended.
(7) Rendering investment advice to governments, government agencies, corporations or other organizations or groups.
(8) Rendering other services related to the operations of an insurance business including, but not limited to, actuarial, loss prevention, safety engineering, data processing, accounting, claims, appraisal and collection services.
(9) Ownership and management of assets or property which the parent could itself own and manage.
(10) Acting as administrative agent for a government instrumentality which is performing an insurance function.
(11) Financing of insurance premiums.
(12) Owning a corporation or corporations engaged or organized to engage exclusively in one or more of the businesses specified in subsections (1) to (11) of this section. [1969 c.285 § 3; 2003 c.364 § 84]