Section 415.422 - Voidable transfers or liens.

OR Rev Stat § 415.422 (2019) (N/A)

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(a) Made or created within four months prior to the commencement of a delinquency proceeding;

(b) Made with the intent of giving to a transferee or lienor or enabling the transferee or lienor to obtain a greater percentage of the debt than any other creditor of the same class; and

(c) Accepted by a transferee or lienor who has reasonable cause to believe that the transferee or lienor will obtain a greater percentage of the debt than any other creditor of the same class.

(2) Every director, officer, employee or other person acting on behalf of a coordinated care organization who participates in a transfer or lien described in subsection (1) of this section, and every person receiving any property of the coordinated care organization or the benefit of the transfer or lien, shall be personally liable as described in subsection (3) of this section.

(3) The Oregon Health Authority, as a receiver in a delinquency proceeding, may avoid any transfer of, or lien upon, the property of a coordinated care organization described in subsection (1) of this section and may recover the property or value of the property transferred or attached unless the person in possession of the property or the lien was a bona fide holder for value prior to the commencement of the delinquency proceeding. [2019 c.478 §41]

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