Title 36 — Title 36 — Insurance

The Commissioner may establish and from time to time amend such rules relating to risk retention groups and purchasing groups as may be necessary or desirable to implement the provisions of the Oklahoma Risk Retention Act. Added by Laws 1987, c. 157, § 16, emerg. eff. June 25, 19…

The Commissioner may make reciprocal agreements with other states to further the purposes of this act. Added by Laws 1987, c. 157, § 17, emerg. eff. June 25, 1987.

exempted. The provisions of this act shall not apply to workers' compensation group self-insurance associations. Added by Laws 1987, c. 157, § 18, emerg. eff. June 25, 1987.

Sections 6470.1 through 6470.33 of this title shall be known and may be cited as the “Oklahoma Captive Insurance Company Act”. Added by Laws 2004, c. 334, § 8, emerg. eff. May 25, 2004. Amended by Laws 2006, c. 265, § 1, eff. Nov. 1, 2006.

captive insurance company – Organization as reciprocal insurer – Branch captive insurance company – Considerations for issuance of license – Privileges and obligations. A. A captive insurance company may be incorporated as a stock corporation or as a nonstock corporation, or may …

Captive insurance companies formed or licensed under the Oklahoma Captive Insurance Company Act may establish a series limited liability company under the Oklahoma Limited Liability Company Act. Any exclusion of the business of a domestic insurer under Title 18 of the Oklahoma St…

A. A captive insurance company may not be required to make an annual report except as provided in the Oklahoma Captive Insurance Company Act. B. Before March 1 of each year, a captive insurance company shall submit to the Insurance Commissioner a report of its financial condition…

reserves – Actuarial opinion. A. Upon written application, accompanied by such information as the Commissioner requires, the Insurance Commissioner may grant permission to a sponsored captive insurance company or a special purpose captive insurance company to discount loss and lo…

Confidentiality - Application. A. At least once in five (5) years, and whenever the Insurance Commissioner determines it to be prudent, the Commissioner personally, or a competent person appointed by the Commissioner, shall conduct an examination under Sections 309.1 through 309.…

A. The license of a captive insurance company to conduct an insurance business in this state may be suspended or revoked by the Insurance Commissioner for: 1. Insolvency or impairment of capital and surplus; 2. Failure to meet the requirements of Section 6470.6 of this title; 3. …

A. An association captive insurance company, a sponsored captive insurance company, and a risk retention group shall comply with the investment requirements contained in the Oklahoma Insurance Code. The Insurance Commissioner may approve the use of alternative investment requirem…

for reserves. A captive insurance company may cede or assume reinsurance and take credit for reserves, as authorized for domestic insurers by the Oklahoma Insurance Code. Added by Laws 2004, c. 334, § 23, emerg. eff. May 25, 2004. Amended by Laws 2013, c. 41, § 14, eff. Nov. 1, 2…

A captive insurance company may not be required to join a rating organization. Added by Laws 2004, c. 334, § 24, emerg. eff. May 25, 2004.

pool, association, or guaranty or insolvency fund. A captive insurance company may not join or contribute financially to a plan, pool, association, or guaranty or insolvency fund in this state, and a captive insurance company, or its insured or its parent or any affiliated compan…

A. Each captive insurance company, other than a sponsored captive insurance company, and each protected cell of a sponsored captive insurance company, shall pay to the Insurance Department, by March 1 of each year, a tax at the rate of two-tenths of one percent (0.2%) on the dire…

As used in the Oklahoma Captive Insurance Company Act: 1. "Alien company" means an insurance company formed and licensed pursuant to the laws of a country or jurisdiction other than the United States of America, or any of its states, districts, commonwealths and possessions; 2. "…

A captive insurance company failing to make returns or to pay all taxes required by this section is subject to sanctions provided in the Oklahoma Insurance Code. Added by Laws 2004, c. 334, § 27, emerg. eff. May 25, 2004. Amended by Laws 2013, c. 41, § 17, eff. Nov. 1, 2013; Laws…

The Insurance Commissioner may promulgate and, from time to time, amend rules and issue orders relating to captive insurance companies as are necessary to enable the Insurance Commissioner to carry out the provisions of the Oklahoma Captive Insurance Company Act. Added by Laws 20…

companies. The Insurance Commissioner may, by rule, regulation, or order, exempt special purpose captive insurance companies, on a case-by- case basis, from provisions of the Oklahoma Insurance Code, Oklahoma Captive Insurance Company Act and any rule or regulation established un…

2015.

2009.

No captive insurance company shall voluntarily take any of the following actions without providing the Insurance Commissioner at least thirty (30) days prior written notice and receiving the Commissioner's approval of any such action: 1. The dissolution of the captive insurance c…

A. Unless otherwise approved by the Commissioner, a captive insurance company formed under the provisions of this act shall maintain its books, records, documents, accounts, vouchers and agreements in this state. A captive insurance company shall make its books, records, document…

In the case of a sponsored captive insurance company: 1. The assets of the protected cell may not be used to pay expenses or claims other than those attributable to the protected cell; and 2. Its capital and surplus at all times must be available to pay expenses of or claims agai…

36 O.S. § 6470.26 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

management function of insured controlled unaffiliated business – Regulations. The Insurance Commissioner shall promulgate regulations establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management for any controlled unaffi…

The provisions of Article 16A of the Insurance Code applicable to acquisition of control or merger with a domestic insurer shall apply to acquisition of control of an association captive insurance company, sponsored captive insurance company, special purpose captive insurance com…

materials – Protected cells. A. In addition to the provisions of Sections 6470.1 through 6470.28 of this title and the provisions of Sections 6470.29 through 6470.31 of this title shall apply to sponsored captive insurance companies, and the provisions of Section 6470.24.1 of thi…

for conducting business in state – Information required – Fees – Provisional license. A. A captive insurance company, when permitted by its articles of incorporation or charter, may apply to the Insurance Commissioner for a license to do any and all insurance authorized by this t…

A sponsor of a sponsored captive insurance company must be an insurer licensed pursuant to the laws of a state, an insurance holding company that controls an insurer licensed pursuant to the laws of any state and subject to registration pursuant to the insurance holding company s…

The business written by a sponsored captive insurance company with respect to each protected cell must be: 1. Fronted by an insurance company licensed pursuant to the laws of any state or any jurisdiction if the insurance company is a wholly owned subsidiary of an insurance compa…

A. An association, a corporation, a limited liability company, a partnership, a trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed pursuant to the Oklahoma Captive Insurance Company Act. B. A sponsor may be a participa…

Notwithstanding the provisions of paragraph 2 of subsection B of Section 6470.29 of Title 36 of the Oklahoma Statutes, a sponsored captive insurance company may combine the assets of two or more protected cells for purposes of investing those assets. Such a combination of assets …

36 O.S. § 6470.32 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

36 O.S. § 6470.33 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

A. A protected cell of a sponsored captive insurance company may be formed as an entity-protected cell. "Entity-protected cell" means a protected cell that is established as any type of legal entity separate from the sponsored captive insurance company of which it is a part. B. S…

dormancy. A. As used in this section, "dormant captive insurance company" means a captive insurance company that has: 1. Ceased transacting the business of insurance including the issuance of insurance policies; and 2. No remaining liabilities associated with insurance business t…

36 O.S. § 6470.4 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

A captive insurance company may not adopt a name that is the same as, deceptively similar to, or likely to be confused with or mistaken for any other existing business name registered in this state. Added by Laws 2004, c. 334, § 12, emerg. eff. May 25, 2004.

companies – Trust funds – Dividends and distributions – Approval required. A. The Insurance Commissioner may not issue or renew the license of a captive insurance company unless the company possesses and thereafter maintains unimpaired aggregate paid-in capital and surplus of: 1.…

36 O.S. § 6470.7 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

36 O.S. § 6470.8 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

36 O.S. § 6470.9 Repealed by Laws 2013, c. 41, § 24, eff. Nov. 1, 2013

Sections 6475.1 through 6475.17 of this title shall be known and may be cited as the "Uniform Health Carrier External Review Act". Added by Laws 2011, c. 278, § 35. Amended by Laws 2011, c. 360, § 25; Laws 2022, c. 154, § 11, eff. Nov. 1, 2022.

A. 1. Within four (4) months after the date of receipt of a notice of an adverse determination or final adverse determination pursuant to Section 6475.5 of this title that involves a denial of coverage based on a determination that the health care service or treatment recommended…

A. An external review decision is binding on the health carrier except to the extent the health carrier has other remedies available under applicable state law. B. An external review decision is binding on the covered person except to the extent the covered person has other remed…

A. The Insurance Commissioner shall approve independent review organizations eligible to be assigned to conduct external reviews under the Uniform Health Carrier External Review Act. B. In order to be eligible for approval by the Commissioner under this section to conduct externa…

A. To be approved under Section 6475.12 of this title to conduct external reviews, an independent review organization shall have and maintain written policies and procedures that govern all aspects of both the standard external review process and the expedited external review pro…

No independent review organization or clinical reviewer working on behalf of an independent review organization or an employee, agent or contractor of an independent review organization shall be liable in damages to any person for any opinions rendered or acts or omissions perfor…

A. 1. An independent review organization assigned pursuant to Section 6475.8, 6475.9, or 6475.10 of this title to conduct an external review shall maintain written records in the aggregate by state and by health carrier on all requests for external review for which it conducted a…