A legal expense organization shall file with the Director an annual financial statement, using the form prescribed by the Director, not later than March 1 following the calendar year to which the statement applies. The statement shall be:

1. (1) Provided on a statutory accounting basis pursuant to the provisions of ORS chapter 733 applicable to organizations under ORS 750.705.

2. (2) Verified as to the financial condition of the legal expense organization as of the end of the preceding calendar year:

   1. (a) If the organization is a corporation, by two executive officers;
   2. (b) If the organization is a partnership, by two partners;
   3. (c) If the organization is a sole proprietorship, by the individual proprietor;
   4. (d) If the organization is an association, by two executive officers;

   5. (e) If the organization is an entity other than one to which subsection (a), (b), (c) or (d) of this section applies, by two executive officers.

      [ED. NOTE: Forms referenced are available from the agency.]

Statutory/Other Authority

ORS 731 & 750

Statutes/Other Implemented

ORS 750.645(1)(a)

History

ID 19-2006, f. & cert. ef. 9-26-06
ID 4-1990, f. & cert. ef. 1-24-90