A legal expense organization shall possess and thereafter maintain capital or surplus, or any combination thereof, of not less than $25,000 or an amount equal to 25 percent of the gross written prepaid fees collected from plan members in the preceding calendar year, whichever is greater, but in no case shall the required amount be more than $300,000.

Statutory/Other Authority

ORS 731 & 750

Statutes/Other Implemented

ORS 750.535(3)(a)

History

ID 4-1990, f. & cert. ef. 1-24-90