Title 36 — Title 36 — Insurance

The Insurance Commissioner may apply to the court for an order appointing him as ancillary receiver of and directing him to liquidate the business of a foreign insurer having assets, business, or claims in this state upon the appointment in the domiciliary state of such insurer o…

A. An order to rehabilitate a domestic insurer shall direct the Insurance Commissioner forthwith to take possession of the property of the insurer and to conduct the business thereof, and to take such steps toward removal of the causes and conditions which have made rehabilitatio…

A. An order to liquidate the business of a domestic insurer shall direct the Insurance Commissioner forthwith to take possession of the property of the insurer, to liquidate its business, to deal with the insurer's property and business in his own name as Insurance Commissioner o…

An order to liquidate the business of a United States branch of an alien insurer having trusteed assets in this state shall be in the same terms as those prescribed for domestic insurers, save and except only that the assets of the business of such United States branch shall be t…

or alien insurers. A. An order to conserve the assets of a foreign or alien insurer shall require the Insurance Commissioner forthwith to take possession of the property of the insurer within this state and to conserve it, subject to the further direction of the court. B. An orde…

alien insurers - Limitations on power of Commissioner - Conflict of interest. A. Whenever under this article of this title a receiver is to be appointed in delinquency proceedings for a domestic or alien insurer, the court shall appoint the Insurance Commissioner as the receiver.…

insurers. A. Whenever under this article an ancillary receiver is to be appointed in delinquency proceedings for an insurer not domiciled in this state, the court shall appoint the Insurance Commissioner as ancillary receiver. The Insurance Commissioner shall file a petition requ…

A. In a delinquency proceeding begun in this state against a domestic insurer, claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary receiver. All such claims must be filed on or be…

A. In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state, claimants against such insurer who reside within this state may file claims either with the ancillary receiver, if any, appointed in this state, or with the domiciliary receiver. All …

A. All claims against an insurer against which delinquency proceedings have been begun shall set forth in reasonable detail the amount of the claim, or the basis upon which such amount can be ascertained, the facts upon which the claim is based, and the priorities asserted, if an…

A. In a delinquency proceeding against an insurer domiciled in this state, claims owning to residents of ancillary states shall be preferred claims if like claims are preferred under the laws of this state. All such claims owing to residents or nonresidents shall be given equal p…

During the pendency of delinquency proceedings in this or any reciprocal state, no action or proceedings in the nature of an attachment, garnishment or execution shall be commenced or maintained in the courts of this state against the delinquent insurer or its assets. Any lien ob…

A. Paragraphs 1 to 13, inclusive, of section 1801 of this article, together with sections 1803, 1804, 1814 to 1820, inclusive, of this article constitute and may be referred to as the uniform insurers liquidation act. B. The uniform insurers liquidation act shall be so interprete…

A. The receiver shall have the power: 1. To hold hearings, to subpoena witnesses for the purpose of compelling their attendance, to administer oaths, to examine any person under oath, and to compel any persons to subscribe to their testimony after it has been correctly reduced to…

The Insurance Commissioner shall not be required to pay any fee to any public officer in this state for filing, recording, issuing a transcript or certificate or authenticating any paper or instrument pertaining to the exercise by the Insurance Commissioner of any of the powers o…

36 O.S. § 1924 Repealed by Laws 2008, c. 184, § 32, eff. July 1, 2008

A. If applicable statutory or common law, an order, or an agreement fixes, defines, extends or tolls a period within which the insurer may commence an action, and this period has not expired before the date of the filing of the initial petition in a delinquency proceeding as defi…

filed. The rights and liabilities of the insurer and of its creditors, policyholders, stockholders, members, subscribers, and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date on which the order directing the liquida…

A. Every transfer made or suffered to be made and every obligation incurred by an insurer within one (1) year prior to the filing of a successful petition for rehabilitation or liquidation under the Insurance Code is fraudulent as to then existing and future creditors if made or …

Contractual rights — Termination — Transfer. A. As used in this section: 1. "Actual direct compensatory damages" means normal and reasonable costs of cover or other reasonable measures of damages utilized in the derivatives, securities, or other market for the contract and agreem…

36 O.S. § 1927 Repealed by Laws 1996, c. 246, § 25, eff. July 1, 1996

estate. A. The priority of distribution of claims from the insurer's estate shall be in accordance with the order in which each class of claims is set forth in this section. Before the members of the next class receive any payment, every claim in each class shall be: 1. Paid in f…

A. In all cases of mutual debts or mutual credits between the insurer and another person, whether arising out of one or more contracts between the insurer and another person, in connection with any action or proceeding under this article, such credits and debts shall be offset an…

A. No contingent claim shall share in a distribution of the assets of an insurer which has been adjudicated to be insolvent by an order made pursuant to this article, except that such claim shall be considered, if properly presented, and may be allowed to share where: 1. Such cla…

If upon commencement of delinquency proceedings under this article or at any time during the proceedings the insurer shall not be clearly solvent, the court shall, after such notice and hearing as it deems proper, make an order declaring the insurer to be insolvent. Thereupon, re…

Within three (3) years from the date an order or rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer was filed in the office of the clerk of the court by which such order was made, the Insurance Commissioner may make a report to the court s…

A. Upon the basis of the report provided for in section 1831 of this article, including any amendments thereof, the court, ex parte, may levy one or more assessments against all members of such insurer who, as shown by the records of the insurer, were members (if a mutual insurer…

After levy of assessment as provided in section 1832 of this article, upon the filing of a further detailed report by the Insurance Commissioner the court shall issue an order directing each member (if a mutual insurer) or each subscriber (if a reciprocal insurer), if he shall no…

The Insurance Commissioner shall cause a notice of such assessment order, setting forth a brief summary of the contents of such order, to be (1) published in such manner as shall be directed by the court, and (2) enclosed in a sealed envelope, addressed and mailed postage prepaid…

A. Upon the return day of the order to show cause provided for in section 1833 of this article, if the member or subscriber does not appear and serve duly verified objections upon the Insurance Commissioner, the court shall make and order adjudging that such member or subscriber …

proceedings. No insurer that is subject to any delinquency proceeding, whether formal or informal, administrative or judicial, shall: 1. be released from such proceeding, unless such proceeding is converted into a judicial rehabilitation or liquidation proceeding; 2. be permitted…

A. For the purposes of this section the persons entitled to protection under this section are: 1. The receiver, assistant receiver, and retained counsel responsible for the conduct of a delinquency proceeding under Article 19 of the Insurance Code, including present and former re…

personnel. A. Upon written notice to the receiver, a person shall be placed on the service list to receive notice of matters filed by the receiver. It shall be the responsibility of the person requesting notice to inform the receiver in writing of any changes to his or her addres…

This act shall be known and may be cited as the Oklahoma Property and Casualty Insurance Guaranty Association Act. Laws 1980, c. 362, § 1, emerg. eff. June 27, 1980.

A. The purpose of the Oklahoma Property and Casualty Insurance Guaranty Association Act is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment, and to the extent provided in this act, minimize financial lo…

The Oklahoma Property and Casualty Insurance Guaranty Association Act shall apply to all kinds of direct insurance, but shall not be applicable to the following: 1. Life, annuity, health, or disability insurance; 2. Ocean marine insurance; 3. Fidelity or surety bonds, or any othe…

As used in the Oklahoma Property and Casualty Insurance Guaranty Association Act: 1. "Affiliate" means a person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person on December 31 of the year ne…

of operation. A. There is hereby created a nonprofit, unincorporated legal entity to be known as the Oklahoma Property and Casualty Insurance Guaranty Association. For purposes of administration and assessment, the Association shall be divided into three separate accounts: 1. The…

Vacancies – Compensation. A. The business and functions of the Oklahoma Property and Casualty Insurance Guaranty Association shall be managed and administered by a board of twelve (12) directors composed of domestic, foreign and alien insurers who are member insurers, including a…

A. The Oklahoma Property and Casualty Insurance Guaranty Association shall: 1. Be obligated to pay the covered claims existing prior to the determination of insolvency if the claims arise within thirty (30) days after the determination of insolvency, or before the policy expirati…

A. The Oklahoma Property and Casualty Insurance Guaranty Association shall submit to the Commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the Association. The plan of operation and any…

A. The Commissioner shall: 1. Notify the Oklahoma Property and Casualty Insurance Guaranty Association Executive Director of the existence of an insolvent insurer as soon as possible but not later than three (3) days after notice of the determination is received. The Association …

- Priority of claims. A. Any person recovering under the Oklahoma Property and Casualty Insurance Guaranty Association Act shall be deemed to have assigned the rights of the person under the policy to the Oklahoma Property and Casualty Insurance Guaranty Association to the extent…

Notice. A. Within one hundred twenty (120) days of a final determination of insolvency of a company by a court of competent jurisdiction of this state, the receiver shall make application to the court for approval of a proposal to disburse assets out of such company's marshalled …

program or associations. A. 1. Any person having a claim against an insurer shall be required to first exhaust all coverage provided by another policy if it arises from the same facts, injury or loss that gave rise to the covered claim against the Oklahoma Property and Casualty I…

36 O.S. § 2013 Repealed by Laws 2010, c. 159, § 16, eff. Nov. 1, 2010

A covered claim shall not include any claim filed with the Association after the final date set by the court for the filing of claims against the liquidator or receiver of an insolvent insurer. Added by Laws 1980, c. 362, § 14, emerg. eff. June 27, 1980.

No person, including an insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated or placed before the public, in any newspaper, magazine or o…

The Oklahoma Property and Casualty Insurance Guaranty Association shall be subject to the examination by the Commissioner and a report shall be made not less than annually by the board of directors concerning the financial condition of the Association. The report shall be made in…

The Association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions. Laws 1980, c. 362, § 17, emerg. eff. June 27, 1980.