Title 36 — Title 36 — Insurance

believe MEWA is insurance company. No licensed MEWA shall use in its name, contracts, literature, advertising in any medium, or any other printed matter any words or descriptions which would cause beneficiaries or potential beneficiaries to believe it is an insurance company. Add…

Each MEWA shall file with the Insurance Commissioner an application for a license on a form prescribed by the Commissioner and signed under oath by officers of the association or the administrator of the MEWA. The application shall include or have attached the following: 1. A cop…

examinations, deposits and solvency regulation. Every Multiple Employer Welfare Arrangement shall comply with Articles 15 through 19 and Sections 309.1 through 309.7, 311.1 and 619 of this title which pertain to examinations, deposits and solvency regulation. Added by Laws 1992, …

Quarterly financial statements - Penalties. A. Every MEWA shall, within ninety (90) days after the end of each fiscal year of the MEWA, or within any such extension of time that the Insurance Commissioner for good cause grants, file a report with the Commissioner, on forms accept…

action plans - Rescission or modification of suspension order. A. The Insurance Commissioner shall deny, suspend or revoke a MEWA's license if, after notice and opportunity for a hearing, the Commissioner finds that the MEWA: 1. Is insolvent; 2. Is using such methods and practice…

As a condition of doing business in the State of Oklahoma, any insurer duly licensed in Oklahoma and who, on the effective date of this act, is writing custom harvesting insurance in any state in the United States or who has written such insurance in the State of Oklahoma within …

The rates for such custom harvesting insurance shall be those rates on file with the Insurance Commissioner on May 15, 1986, or if such rates are not on file and need to be submitted or filed with the Insurance Commissioner. Added by Laws 1986, c. 181, § 2, emerg. eff. May 15, 19…

Failure of any insurer to comply with Section 6401 et seq. of this title may subject the insurer at the discretion of the Insurance Commissioner, after notice and opportunity for hearing, to penalties of censure, suspension or revocation of certification of authority or a civil p…

welfare arrangements. The Insurance Commissioner may promulgate rules to implement the provisions of Sections 633 through 640 of Title 36 of the Oklahoma Statutes relating to multiple employer welfare arrangements. Added by Laws 2002, c. 129, § 4, eff. Nov. 1, 2002.

Sections 44 through 55 of this act shall constitute a part of the Oklahoma Insurance Code and shall be known and may be cited as the "Market Assistance Association Act". Added by Laws 1986, c. 251, § 44, emerg. eff. June 13, 1986.

There is hereby created a Market Assistance Association to assist in the placement of homeowners' and liability insurance coverage for residents of this state. The Market Assistance Association is not a carrier capable of assuming insurance risks. While it is believed that the As…

As used in the Market Assistance Association Act: 1. "Association" means the Market Assistance Association established pursuant to this act; 2. "Board" means the Board of Directors of the Market Assistance Association; 3. "Commissioner" means the Insurance Commissioner; 4. "Insur…

of operation - Insurer's financial liability - Termination of membership. A. The Association created pursuant to the Market Assistance Association Act shall have the power on behalf of its members to: 1. Require members to issue policies of insurance to applicants, subject to lim…

Meetings - Approval of selections - Compensation. A. The business and functions of the Association shall be managed and administered by a Board of eight (8) directors composed of four directors representing Association members, two directors who are representatives of Oklahoma do…

There shall be no liability on the part of, and no cause of action of any nature shall arise against the Insurance Commissioner or his staff, the Association, its agents or employees, an insurer, any licensed agent, or the board of directors or its authorized representatives for …

to members. A. The Association shall submit to the Insurance Commissioner, annually, from the date of its inception, a statement prepared by an independent certified public accountant which shall contain information with respect to its transactions, condition, operations, and aff…

insurance. Each member insurer shall use the filed rate for the homeowners' liability and homeowners' insurance being written. Any variance from such rate, including a variance based upon debit, shall be submitted or filed with the Insurance Commissioner. Added by Laws 1986, c. 2…

The Commissioner may adopt any rules and regulations necessary for the implementation, administration or furtherance of the provisions of the Market Assistance Association Act. Added by Laws 1986, c. 251, § 52, emerg. eff. June 13, 1986.

Market Assistance Association. Property and casualty insurance companies licensed to transact insurance in the State of Oklahoma are hereby authorized to create and operate a Voluntary Market Assistance Association under the auspices of the Commissioner of Insurance. In the event…

If at any time after the provisions of this act are implemented, either by voluntary plan or as otherwise provided for herein, the State Insurance Commissioner would determine by written order that there was no further need for such Association, then the same would be dissolved. …

Members of the Market Assistance Association, whether a voluntary or statutory program, shall be required to participate in all assessments and writings of the Association. Failure to participate shall, after notice and opportunity for hearing before the Insurance Commissioner, r…

36 O.S. § 6423 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6424 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6425 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6426 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6427 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6428 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6429 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6430 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6431 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6432 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

36 O.S. § 6433 Repealed by Laws 1990, c. 236, § 12, eff. July 1, 1991

Sections 1 through 18 of this act shall be a part of the Insurance Code and shall be known as the Oklahoma Risk Retention Act. Added by Laws 1987, c. 157, § 1, emerg. eff. June 25, 1987.

The Oklahoma Risk Retention Act shall regulate the formation and operation of risk retention groups in this state formed pursuant to the provisions of the federal Liability Risk Retention Act of 1986. Added by Laws 1987, c. 157, § 2, emerg. eff. June 25, 1987.

As used in the Oklahoma Risk Retention Act: 1. "Commissioner" means the Insurance Commissioner of this state or the Commissioner, Director, or Superintendent of insurance in any other state; 2. "Completed operations liability" means liability arising out of the installation, main…

A. 1. A risk retention group seeking to be chartered for domicile in this state shall be chartered and licensed only to write liability insurance pursuant to the insurance laws of this state and, except as provided elsewhere in the Oklahoma Risk Retention Act, shall comply with a…

A. For the purposes of this section: 1. "Board of Directors" or "Board" means the governing body of the risk retention group elected by the shareholders or members to establish policy, elect or appoint officers and committees, and make other governing decisions; 2. "Director" mea…

Risk retention groups chartered and licensed in states other than this state and seeking to do business as risk retention groups in this state shall observe and abide by the laws of this state as follows: A. Before offering insurance in this state, a risk retention group shall su…

guaranty fund prohibited – Purchasing group coverage – Risks not covered. A. No risk retention group shall be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its ins…

Notwithstanding any other provision of law, a policy of insurance issued to a risk retention group or any member of that group shall not be required to be countersigned. Added by Laws 2021, c. 314, § 6, eff. Nov. 1, 2021.

A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law of this state that would: 1. P…

agent. A. A purchasing group which intends to do business in this state shall, prior to doing business, furnish to the Insurance Commissioner notice which shall, on forms prescribed by the National Association of Insurance Commissioners: 1. Identify the state in which the group i…

– Notice of risks not covered – Deductibles or self-insured retention – Aggregate limits standards. A. A purchasing group shall not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not licensed to transact insurance in this state,…

Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group shall be: 1. Imposed at the same rate and subject to the same interest, fines and penalties as applicable to premium taxes…

The Insurance Commissioner of this state is authorized to make use of any of the powers established pursuant to the Insurance Code of this state to enforce the laws of this state so long as those powers are not specifically preempted by the Risk Retention Act of 1986, as amended,…

A. A risk retention group which violates any provision of the Oklahoma Risk Retention Act shall be subject to fines and penalties applicable to licensed insurers generally, including but not limited to revocation of license and the authority to transact insurance business in this…

Soliciting liability insurance for purchasing groups. A. No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless such person, firm, association or corp…

The State Insurance Commissioner shall require all risk insurance groups to have appropriate reserves in Oklahoma, other assets, or a corporate surety bond to protect purchasers in case of bankruptcy, withholding of unearned premiums, or failure to pay benefits. Added by Laws 198…

An order issued by any District Court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in any state, or in any territory or possession of the United States, upon a finding that such a group is in a hazardous financial condit…

There shall be collected, at the time of filing of information for a risk retention group, a fee payable annually, of Four Hundred Dollars ($400.00). In addition, risk retention groups chartered for domicile in this state shall pay the same fees applicable to insurers in this sta…