ORS 750.318
Officers and persons appointed to act on behalf of board

  • bond

(1)

The board of trustees of a trust carrying out a multiple employer welfare arrangement shall select officers as designated in the articles or bylaws and may appoint persons to act on behalf of the board as the board determines to be necessary for transacting the business of the multiple employer welfare arrangement.

(2)

Officers and persons appointed to act on behalf of the board have such authority and may perform such duties in the management of the property and affairs of the trust as may be delegated by the board of trustees.

(3)

The board of trustees by bond must secure the fidelity of all officers and persons appointed to act on behalf of the board who handle the funds of the trust. The amount of the bond shall be determined annually. The requirement of this subsection may be satisfied by either of the following, whichever is the greater amount:

(a)

By a bond in the amount required by the Director of the Department of Consumer and Business Services for an authorized insurer. To establish the amount, the director shall consider the formula established in the examiner’s handbook of the National Association of Insurance Commissioners.

(b)

By compliance with the bonding requirements set forth in the federal Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. 1002, applicable to all fiduciaries as defined therein. [1993 c.615 §11]
Note: See note under 750.301 (Definitions for ORS 750.301 to 750.341).

Source: Section 750.318 — Officers and persons appointed to act on behalf of board; bond, https://www.­oregonlegislature.­gov/bills_laws/ors/ors750.­html.

750.003
Purpose 750.005
Definitions 750.015
Management to include representatives of public 750.025
Restricting distribution of income 750.035
Regulation of hospital care associations under prior law 750.045
Required capitalization 750.055
Other provisions applicable to health care service contractors 750.059
Exemption of group practice maintenance organizations from reimbursement requirement for services provided by state hospital or state-approved program 750.065
Payment or reimbursement for services within scope of practice of optometrists 750.085
Offer of replacement coverage upon order of liquidation 750.095
Requirements of contract between provider and subscriber 750.301
Definitions for ORS 750.301 to 750.341 750.303
Conditions for use of multiple employer welfare arrangement 750.305
Application for certificate 750.307
Requirements for association or group 750.309
Requirements for trust 750.311
Multiple employer welfare arrangements established in another state 750.313
Issuance or refusal of certificate of multiple employer welfare arrangement 750.315
Maintenance of reserves 750.317
Board of trustees 750.318
Officers and persons appointed to act on behalf of board 750.319
Salaries 750.321
Assessment 750.323
Notice of coverage under plan 750.325
Filings by trust 750.327
Examinations 750.329
Taxation 750.331
Prohibited activities for trustee or officer 750.333
Applicable provisions of Insurance Code 750.335
Delinquency proceedings 750.337
Exclusion from membership in guaranty funds, joint underwriting associations and other pools 750.339
Liability of excess loss insurer 750.341
Requirement for multiple employer welfare arrangement to become traditional insurer 750.505
Definitions for ORS 750.505 to 750.715 750.515
Certificate of registration required 750.525
Inapplicability of ORS 750.505 to 750.715 to certain legal services 750.535
Registration requirements 750.545
Application 750.555
Issuance of certificate of registration 750.565
Duration of certificate 750.575
Grounds for suspension or revocation of certificate or refusal to issue or renew certificate 750.585
Written provider agreement with providing attorney 750.595
Membership agreement 750.605
Unfair, discriminatory or misleading provisions in agreements prohibited 750.615
Deposit to reimburse members for unearned premiums required 750.625
Paying providing attorney contingent on claims experience prohibited 750.635
Registered agent and registered office in state required 750.645
Annual report 750.655
Filing schedule of legal service rates required 750.675
Filing of provider and membership agreement with director 750.685
Indemnification insurance or bond required 750.695
ORS 750.505 to 750.715 not to affect regulation of practice of law 750.705
Application of Insurance Code 750.715
Rules
Green check means up to date. Up to date

Current through early 2024

§ 750.318’s source at oregon​.gov