Relating to federal home loan bank rights with respect to insurer-members under Oregon delinquency proceedings; declaring an emergency.

Provides that court may not stay or prohibit federal home loan bank from exercising rights to collateral pledged by insurer-member that is subject to delinquency proceeding. Requires receiver to comply with provisions of Act with respect to claims against insurer-member. Requires federal home loan bank that exercises right to collateral to repurchase any outstanding capital stock that exceeds amount of federal home loan bank stock that insurer-member must hold as minimum investment, subject to certain determinations. Prohibits receiver from voiding transfer of, or obligation to transfer, moneys or property under terms of federal home loan bank security agreement. Declares emergency, effective on passage.