Title 36 — Title 36 — Insurance

A. The annual statement of a reciprocal insurer shall be made and filed by its attorney. B. The statement shall be supplemented by such information as may be required by the Insurance Commissioner relative to the affairs and transactions of the attorney. Laws 1957, p. 357, § 2916…

The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms such funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer, and, except upon liquidation of the insurer, sha…

In determining the financial condition of a reciprocal insurer the Insurance Commissioner shall apply the following rules: 1. The Commissioner shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.…

Individuals, partnerships, and corporations of this state may make application, enter into agreement for and hold policies or contracts in or with and be a subscriber of any domestic, foreign, or alien reciprocal insurer. Any corporation now or hereafter organized under the laws …

A. The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt. B. Not less than two-thirds (2/3) of such committee shall be subscribers other than the attorney, or any person employed by, …

A. The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual, several, and proportionate liability, and not joint. B. Except as to a nonassessable policy each subscriber shall have a contingent …

A. No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for thirty (30) days. B. Any such judgment shall be binding upon each subscriber only in such proport…

A. If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock generally required of a domestic stock insurer authorized to transact like kinds of insurance, upon application of the attorney and as approved by the subscribers' …

A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks, or policies, or between subscribers, but such distribution may…

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in Section 2917 of this article, and the return…

A. A domestic reciprocal insurer upon affirmative vote of not less than two-thirds (2/3) of its subscribers who vote on such merger pursuant to due notice and the approval of the Insurance Commissioner of the terms therefor, may merge with another reciprocal insurer or be convert…

A. If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others and to maintain the required surplus, its attorney shall forthwith make up the deficiency or levy…

A reciprocal insurer, as defined in Section 2902 of Title 36 of the Oklahoma Statutes, may purchase, receive, own, hold, lease, mortgage, pledge, or encumber, by deed of trust or otherwise, manage, or sell real property in its own name for the purposes and objects of such insurer…

agreements. "Underwriters" Defined. Individuals, partnerships, or associations of individuals, hereby designated "underwriters," are authorized to make any insurance as hereinafter provided, except life insurance or title insurance, on the Lloyd's plan, by executing articles of a…

Policies of insurance may be executed by an attorney or by an attorney-in-fact, or other representative, hereby designated "attorney," authorized by and acting for such underwriters under power of attorney. The principal office of such attorneys shall be maintained at such place …

authorized; financial statement; process. The attorney shall file with the Insurance Commissioner a verified application for license setting forth and accompanied by: 1. The name of the attorney or attorneys and the title under which the business is to be conducted, which title s…

In the accounts pertaining to each kind of insurance shall be entered all receipts thereof and all expenses incurred directly in its behalf and due proportion of the unallocated expenses of the Lloyd's in such manner as to show separately the underwriting experience. Laws 1957, p…

No attorney shall be licensed for the underwriters at a Lloyd's under this Code unless the net assets, including the guaranty fund contributed to the attorney, a committee of underwriters, trustees, or other officers as provided for in the articles of agreement, shall be at least…

Underwriters at a Lloyd's are required to compute reserve liabilities for all outstanding business and for all incurred losses upon the same basis required for stock insurance companies doing the same class and character of business in Oklahoma. Laws 1957, p. 361, § 3006.

An underwriter at a Lloyd's may limit his total liability on all risks to the amount of his subscription as expressed in his power of attorney and agreement with the attorney-in-fact; provided at least half of the subscription of each underwriter must be paid or contributed to th…

authority of deputy, substitute or successor attorney. Additional or substituted underwriters shall be bound in the same manner and to the same extent as original subscribers to the articles of agreement and power of attorney on file with the Insurance Commissioner; and the acts …

No profits shall accrue to an underwriter, except upon the basis of his actual investment in cash or securities, disregarding any obligation or subscription to pay in additional cash or securities at a later date. Laws 1957, p. 362, § 3009.

The Insurance Department of the State of Oklahoma is hereby created. The Insurance Commissioner shall be the chief executive officer of the Insurance Department. The powers and duties of the Insurance Commissioner shall be those created by the Oklahoma Insurance Code. The Insuran…

Judgment - Costs. Action on any policy or contract of insurance issued by an attorney for the underwriters may be brought against the attorney. In such action, summons and process shall be served on either the Insurance Commissioner or on the attorney-in-fact, and when so served …

condition to permit. In case underwriters at a Lloyd's who are nonresidents of Oklahoma, or who maintain their principal office outside of Oklahoma, apply to the Insurance Commissioner for a permit to do business in Oklahoma, such permit shall not be granted unless such underwrit…

If any attorney-in-fact or underwriters at Lloyd's shall violate any of the provisions of this Code, or any of the other laws of the State of Oklahoma which are applicable to them, the license of such attorney shall be revoked and the right to do business in Oklahoma shall be can…

A. The provisions of this article are applicable to domestic Lloyd's insurers and to foreign Lloyd's insurers. B. To the extent not modified by the provisions of this article, Lloyd's insurers shall be subject to and governed by the other applicable provisions of this Code. Laws …

The Insurance Commissioner of this state shall be at least twenty-five (25) years of age and a resident of this state for at least five (5) years, and have had at least five (5) years' experience in the insurance industry in administration, sales, servicing or regulation. The Ins…

A. The Insurance Commissioner of the State of Oklahoma, in addition to the other powers and duties vested in the Commissioner, shall be authorized to relocate the Oklahoma Insurance Department's Oklahoma City offices to a single site in Oklahoma County, including but not limited …

The Insurance Commissioner shall have an official seal, the center of which shall be the same as that of the Great Seal of the State of Oklahoma, and which shall be distinguished by the words "Insurance Commissioner - State of Oklahoma" inscribed in the circular band surrounding …

nongovernmental entities. A. The Insurance Commissioner shall deposit weekly with the State Treasurer all funds in the Commissioner’s hands collected for the use of the state. B. The Insurance Commissioner may contract with nongovernmental entities to collect fees and taxes on be…

A. The Insurance Commissioner may appoint such deputies, assistants, examiners, actuaries, attorneys, clerks and employees, at compensation to be fixed by the Insurance Commissioner, as may be necessary properly to discharge the duties imposed upon the Insurance Commissioner unde…

exemptions. In any proceeding commenced against an insurer pursuant to Article 18 or 19 of Title 36 of the Oklahoma Statutes for the purpose of liquidating, rehabilitating, reorganizing or conserving such insurer: 1. No former employee of the Insurance Department shall be employe…

A. The records, books, and papers pertaining to the official transactions, filings, examinations, investigations, and proceedings of the Insurance Department shall be maintained by the Department until disposition thereof has been approved by the Archives and Records Commission. …

Confidentiality – Sharing of data - Definitions. A. A supervisory agency shall make available to a requesting agency any data obtained or generated by, and in the possession of, the supervisory agency and that the requesting agency deems necessary for review in connection with th…

The Insurance Commissioner shall be charged with the duty of administration and enforcement of the provisions of the Oklahoma Insurance Code, of any requirements placed on an insurance company pursuant to the Oklahoma Statutes. The Commissioner shall have jurisdiction over compla…

The Insurance Commissioner may adopt reasonable bulletins, orders, rules and regulations for the implementation and administration of the provisions of the Insurance Code and other statutes for which the Commissioner has jurisdiction. Added by Laws 1983, c. 89, § 14, eff. Nov. 1,…

A. No person shall disclose any nonpublic personal information contrary to the provisions of Title V of the Gramm-Leach-Bliley Act of 1999, Public Law No. 106-102. B. The Insurance Commissioner may promulgate rules necessary to carry out the provisions of this section. C. Nothing…

A. Effective July 1, 2009, there is hereby created in the State Treasury a revolving fund for the Insurance Commissioner called the State Insurance Commissioner Revolving Fund. The revolving fund shall be used to fund the operations of the Office of the Insurance Commissioner. 1.…

A. The Insurance Commissioner may solicit, accept and authorize the use of any grant made to the Insurance Department as long as the terms of the grant are carried out and the Insurance Commissioner holds the funds in trust for the purposes of carrying out the terms of the grant.…

A. There is hereby created in the State Treasury a revolving fund for the Oklahoma Insurance Department, to be designated the "Insurance Department Anti-Fraud Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitation, and shall consist of any mon…

Fund. A. There is hereby created in the State Treasury a revolving fund for the Insurance Department, to be designated the "Insurance Department Pharmacy Benefits Manager Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitation, and shall consis…

36 O.S. § 308 Repealed by Laws 1991, c. 204, § 14, eff. Sept. 1, 1991

36 O.S. § 309 Repealed by Laws 1991, c. 204, § 14, eff. Sept. 1, 1991

As used in Sections 309.1 through 309.7 of this title: 1. "Commissioner" means the Insurance Commissioner; 2. "Company" means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons …

of examinations. A. The Insurance Commissioner or an examiner may conduct an examination, including a financial and market conduct examination, under Sections 309.1 through 309.7 of this title of any company as often as the Commissioner deems appropriate but shall at a minimum, c…

requests - Powers of Commissioner. A. Upon determining that an examination should be conducted, the Insurance Commissioner shall issue an examination warrant appointing one or more examiners to perform the examination and instructing them as to the scope of the examination. In co…

Investigatory hearing - Disclosure. A. All examination reports shall be comprised of only facts appearing upon the books, records, or other documents of the company, its agents or other persons examined, or as ascertained from the testimony of its officers or agents or other pers…

A. No examiner may be appointed by the Insurance Commissioner if such examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under Sections 309.1 through 309.7 o…

Any insurer or person examined under the provisions of Sections 309.1 through 309.7 of this title shall pay the proper charges incurred in such examination, including the actual expense of the Insurance Commissioner or the expenses and compensation of an authorized representative…