Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 24 - DOMESTIC INSURERS; ORGANIZATION; CORPORATE PROCEDURES
Section 836-024-0130 - Exemptions from ORS 732.430 and 732.435
Universal Citation: OR Admin Rules 836-024-0130
Current through Register Vol. 63, No. 9, September 1, 2024
(1) Securities held by the following persons are exempt from ORS 732.430 and 732.435 for 12 months following the date of the person's appointment and qualification:
(a) An executor or administrator of the
estate of a decedent;
(b) A
guardian or committee for an incompetent; and
(c) A receiver, trustee in bankruptcy,
assignor for the benefit of creditors, conservator, liquidating agent or other
similar person authorized by law to administer the estate or assets of other
persons.
(2) After the 12-month period following the appointment of a person to whom section (1) of this rule applies:
(a) The person shall file a
statement under ORS 732.430 with respect to the
securities held by the estates that the person administers; and
(b) The person is liable for profits realized
from trading in the securities pursuant to ORS
732.435 only when the estate
being administered is a beneficial owner of more than ten percent of any class
of equity security of an insurer subject to 732.430 and 732.435.
(3) Securities reacquired by or for the account of an insurer and held by it for its account are exempt from ORS 732.430 and 732.435 while they are held by the insurer.
Stat. Auth: ORS 731.244, 732.420, 732.430, 732.435, 732.445, 732.450, 732.455
Stats. Implemented: ORS 732.420 - 732.455
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