OR SB102

Courts cannot stay or prohibit Federal Home Loan Banks from exercising rights to collateral pledged by insurer-members during delinquency proceedings, overriding existing claim priority rules in ORS 734.280-734.310

Federal Home Loan Banks must establish a process within 10 business days of a receiver's request for releasing excess collateral, paying fees, operating accounts, and redeeming stock of insolvent insurer-members

Federal Home Loan Banks must provide opportunities to renew or restructure loans to defer prepayment fees for insurer-members in delinquency proceedings, considering market conditions and applicable policies

Receivers cannot void transfers of money or property made under Federal Home Loan Bank security agreements in the ordinary course of business, unless the transfer was made with intent to defraud

Declared an emergency measure taking effect upon passage, applying to delinquency proceedings beginning on or after the effective date