OAR 836-050-0275
Credit Unions as Associations; Group Life Insurance

A credit union organized under ORS Chapter 723 (Credit Unions), a credit union authorized to conduct business as a credit union in this state under 723.042 (Interstate credit unions) or a federal credit union the principal office of which is located in Oregon is considered to be maintained primarily for purposes other than the procurement of insurance. Such a credit union may qualify as an association for the purposes of being the policyholder of a group life insurance policy if:


The credit union is authorized to provide insurance to its members under the laws under which the credit union is organized; and


The Director determines that the credit union otherwise satisfies the requirements of ORS 743.351 (Eligibility of association to be group life policyholder)(1).

Source: Rule 836-050-0275 — Credit Unions as Associations; Group Life Insurance, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-050-0275.

Last Updated

Jun. 8, 2021

Rule 836-050-0275’s source at or​.us