Title 36 — Title 36 — Insurance

A. An insurer may invest or deposit any of its cash funds on deposit in checking or savings accounts, under certificates of deposit, or in solvent banks or trust companies, which are insured by the Federal Deposit Insurance Corporation. B. An insurer may invest or deposit any of …

Provided nothing contained herein shall prevent a domestic company doing business in other states of the United States or in foreign countries from investing the funds required to meet its obligations incurred in such other states or foreign countries in the kind of securities th…

A. An insurer may invest any of its funds in bonds, notes or other evidences of indebtedness which are secured by first mortgages or deeds of trust upon improved, unencumbered real property located in the United States, or which are secured by first mortgages or deeds of trust up…

An insurer may invest in purchase money mortgages or like securities, received by it upon the sale or exchange of real property theretofore owned by it. Provided, however, such investments shall be subject to the limitations of Section 1622 of this title. Laws 1957, p. 290, § 162…

No insurance company, foreign, alien or domestic, doing business in Oklahoma, may acquire or hold real property therein, except as follows: 1. Such as shall be requisite for the convenient accommodation of the transaction of its own business; the amount invested in such real prop…

securities; penalty. A. Any personal property or securities lawfully acquired by an insurer, which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of within three (3) years from date of acquisition, unless within…

The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile but shall be of a quality substantially as high as those required under this article for similar funds of like domestic insurers. Laws 1957, p. 291, § 1626.

An insurer may invest in loans with a maturity not in excess of five (5) years from the date thereof which are secured by pledge of securities eligible for investment under this chapter, or by the pledge or assignment of life insurance policies issued by other insurers authorized…

responsibilities. A. As used in this section: 1. "Agent" shall mean a national bank, state bank, or trust company which maintains an account in its name in a clearing corporation or which is a member of the Federal Reserve System and through which a custodian participates in a cl…

Any insurer may make and invest in student loans guaranteed or reinsured as to principal and interest by a state or federally sponsored higher education assistance corporation, to the extent of such guaranty or reinsurance, or by a private nonprofit or for profit student loan ins…

As used in this act, the following terms shall have these meanings unless the context shall otherwise require: 1. "Affiliate of" or person "affiliated with" a specific person means a person that directly, or indirectly through one or more intermediaries, controls, or is controlle…

investments. A. A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. The subsidiaries may conduct any kind of business or businesses and their authority to do so shall not be limited by reason of the fa…

insurer. A. The requirements for filing shall be as follows: 1. No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or othe…

Exceptions - Examination by Commissioner. A. The following definitions shall apply for the purposes of this section only: 1. "Acquisition" means any agreement, arrangement or activity the consummation of which results in a person acquiring directly or indirectly the control of an…

A. Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the Insurance Commissioner, except a foreign insurer subject to registration requirements and standards adopted by statute or regulat…

Standards. A. 1. Transactions within an insurance holding company system to which an insurer subject to registration is a party shall be subject to the following standards: a. the terms shall be fair and reasonable, b. agreements for cost-sharing services and management shall inc…

A. Subject to the limitation contained in this section and in addition to the powers which the Commissioner has under Sections 309.1 through 309.7 of Title 36 of the Oklahoma Statutes relating to the examination of insurers, the Commissioner shall have the power to examine any in…

colleges. A. With respect to any insurer registered under Section 5 of this act, and in accordance with subsection C of this section, the Commissioner shall also have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding c…

insurance group. A. The Commissioner is authorized to act as the group-wide supervisor for any internationally active insurance group in accordance with the provisions of this section. However, the Commissioner may otherwise acknowledge another regulatory official as the group-wi…

A. Documents, materials or other information in the possession or control of the Insurance Department that are obtained by or disclosed to the Commissioner or any other person in the course of an examination or investigation made pursuant to Section 1637 of this title and all inf…

The Commissioner may issue such rules, regulations and orders as shall be necessary to carry out the provisions of Section 1631 et seq. of this title. Added by Laws 2017, c. 350, § 11, emerg. eff. May 31, 2017. Amended by Laws 2024, c. 345, § 14, eff. Nov. 1, 2024.

Sequestration of voting securities. A. Whenever it appears to the Commissioner that any insurer or any director, officer, employee or agent thereof has committed or is about to commit a violation of this act or of any rule, regulation or order issued by the Commissioner hereunder…

investments - Willful violations - False statements. A. Any insurer failing, without just cause, to file any registration statement as required in this act shall be required, after notice and hearing, to pay a penalty of Five Hundred Dollars ($500.00) for each day's delay, to be …

Commissioner. Whenever it appears to the Commissioner that any person has committed a violation of this act which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, c…

A. If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer: 1. From any parent corporation or holding company or person or affiliate who otherwise controlle…

or authority to do business. Whenever it appears to the Commissioner that any person has committed a violation of this act which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Commissioner may, after giving notice and an …

A. Any person aggrieved by any act, determination, rule, regulation or order or any other action of the Commissioner pursuant to this act may appeal to the district court for Oklahoma County. The court shall conduct its review without a jury and by trial de novo, except that if a…

The powers, remedies, procedures and penalties provided in this act shall be in addition to, and not in limitation of, any other powers, remedies, procedures and penalties provided by law. Added by Laws 2017, c. 350, § 18, emerg. eff. May 31, 2017.

2017.

2017.

2017.

2017.

2017.

2017.

31, 2017.

36 O.S. § 1657 Repealed by Laws 2013, c. 269, § 26, eff. Nov. 1, 2013

31, 2017.

36 O.S. § 1658 Repealed by Laws 1992, c. 178, § 41, eff. Sept. 1, 1992

31, 2017.

31, 2017.

36 O.S. § 1659 Repealed by Laws 1992, c. 178, § 41, eff. Sept. 1, 1992

31, 2017.

31, 2017.

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2017.

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Sections 13 through 19 of this act may be cited as the "Business Transacted with Producer Controlled Insurer Act". Added by Laws 1992, c. 178, § 13, eff. Sept. 1, 1992.

As used in the Business Transacted with Producer Controlled Insurer Act: 1. "Accredited State" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by…

The Business Transacted with Producer Controlled Insurer Act shall apply to licensed insurers as defined in Section 14 of this act, either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. All provisions …