Section 742.007 - Director’s withdrawal of approval.

OR Rev Stat § 742.007 (2019) (N/A)
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(2) When the director notifies an insurer of a hearing on a form under subsection (1) of this section, if the director in the director’s own discretion determines that the public may suffer serious injury because of continued use of the form, the director also may order the insurer to suspend delivery of the form in this state until the director has decided whether to withdraw approval of the form.

(3) No insurer shall deliver in this state:

(a) A form subject to an order of suspension under subsection (2) of this section, after the effective date of the order and until the director withdraws the order.

(b) A form for which the director has withdrawn approval, after the effective date of such withdrawal. The effective date of withdrawal shall be as the director may prescribe but not less than 30 days after the giving of notice of withdrawal. [Formerly 743.012]