ORS 735.005
Definitions for ORS 735.005 to 735.145
(1)
“Association” means the Oregon FAIR Plan Association created by ORS 735.045 (Oregon FAIR Plan Association).(2)
“Board” means the board of directors of the association.(3)
“Essential property insurance” means insurance against direct loss to property as defined and limited in standard fire policies and extended coverage indorsements thereon, as approved by the Director of the Department of Consumer and Business Services, and insurance against the perils of vandalism and malicious mischief. “Essential property insurance” does not include automobile insurance or insurance on such types of manufacturing risks as may be excluded by the director.(4)
“Inspection bureau” means the person or persons designated by the association with the approval of the director to make inspections as required under ORS 731.418 (Grounds for suspension or revocation of certificate of authority), 733.010 (Assets allowed) and 735.005 (Definitions for ORS 735.005 to 735.145) to 735.145 (Immunity from legal action in carrying out duties) and to perform such other duties as may be authorized by the association.(5)
“Service insurer” means any insurer designated as such by the board.(6)
“Member insurer” means an insurer authorized to transact insurance in this state that writes any kind of essential property insurance.(7)
“Net direct written premiums” means direct gross premiums written in this state on insurance policies to which ORS 735.005 (Definitions for ORS 735.005 to 735.145) to 735.145 (Immunity from legal action in carrying out duties) apply, less return premiums thereon and dividends paid or credited to policyholders on such direct business. “Net direct written premiums” does not include premiums on contracts between insurers or reinsurers.(8)
“Plan” means the plan of operation of the association established pursuant to ORS 735.085 (Plan of operation). [1971 c.321 §5; 1979 c.818 §2]
Source:
Section 735.005 — Definitions for ORS 735.005 to 735.145, https://www.oregonlegislature.gov/bills_laws/ors/ors735.html.
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