Okla. Stat. tit. 36, § 36-2805 — OK Code / Title 36 / Section 36-2805
Restrictions as to corporate acts
Status: in_force

Every such association shall not insure other than its own

members; issue capital stock or have any capitalization whatsoever;

be run or conducted for profit to any member or person whomsoever;

pay any salary or compensation to its president, secretary,

treasurer, board of directors, or other officer or person, except as

in this article provided; pass or enact any bylaw creating different

classes of membership or depriving any member of the full rights of

suffrage therein.
Okla. Stat. tit. 36, § 36-1445 — OK Code / Title 36 / Section 36-1445
Fiduciary capacity and duties of administrator
Status: in_force

A. All insurance charges or premiums collected by an

administrator for an insurer or trust and all return premiums

received from the insurer or trust shall be held by the

administrator in a fiduciary capacity. These funds shall be

immediately remitted to the person entitled to the funds or shall be

deposited promptly in a fiduciary bank account established and

maintained by the administrator.

B. If charges or premiums deposited in a fiduciary account have

been collected for more than one insurer or trust, the administrator

Oklahoma Statutes - Title 36. Insurance Page 371

shall keep records showing the deposits to and withdrawals from the

account for each insurer or trust. The administrator, upon request

of an insurer or trust, shall furnish copies of the records

pertaining to deposits to and withdrawals from the account for that

insurer or trust.

C. The administrator shall not pay any claim by withdrawals

from a fiduciary account unless provisions for said withdrawals are

included in the written agreement between the insurer or trust and

the administrator. The written agreement shall authorize

withdrawals by the administrator from the fiduciary account only

for:

1. Remittance to an insurer or trust entitled to a remittance;

or

2. Deposit in an account maintained in the name of an insurer

or trust; or

3. Transfer to and deposit in an account established for

payment of claims, as provided for by subsection D of this section;

or

4. Payment to a group policyholder for remittance to the

insurer or trust entitled to such remittance; or

5. Payment of commission, fees, or charges to the

administrator; or

6. Remittance of return premiums to the person entitled to such

return premiums.

D. All claims paid by the administrator from funds collected on

behalf of the insurer or trust shall be paid on drafts, checks or

electronic payment authorized by the insurer or trust.
Okla. Stat. tit. 36, § 36-3634 — OK Code / Title 36 / Section 36-3634
Chiropody, podiatry, psychology and clinical social work
Status: in_force

- Accident and health benefits.

Medical or surgical services or procedures constituting the

practice of podiatric medicine, as defined by Section 142 of Title

59 of the Oklahoma Statutes, psychological services or procedures

constituting the practice of psychology, as defined by Section 1352

of Title 59 of the Oklahoma Statutes, and licensed and certified

clinical social work services provided by persons meeting the

qualifications required under subsection B of Section 1261.1 of

Title 59 of the Oklahoma Statutes and covered by the terms of any

individual, group, blanket or franchise policy, agreement or service

contract providing accident or health benefits coverage in Oklahoma

issued by any insurer, whether a stock or mutual insurance company,

a medical service corporation or association, or any other type of

issuer whatever, and covering an Oklahoma risk may be performed by

any practitioner licensed to do so under Sections 136 through 160.2,

Sections 1351 through 1376 or subsection B of Section 1261.1 of

Title 59 of the Oklahoma Statutes, who is selected by the insured

provided that where covered benefits are offered through a

contracting preferred provider organization, the podiatrist,

psychologist, or clinical social worker is a contracting provider.

Except in the case of a contracting preferred provider organization,

any provision, exclusion or limitation in such a policy denying an

insured the free choice of such licensed podiatric physician,

psychologist or certified clinical social worker shall, to the

extent of the denial, be void, but such voidance shall not affect

the validity of the other provisions of the policy.
Okla. Stat. tit. 36, § 36-2916 — OK Code / Title 36 / Section 36-2916
Annual statement
Status: in_force

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.
Okla. Stat. tit. 36, § 36-6470.10a — OK Code / Title 36 / Section 36-6470.10a
Establishment of series limited liability company
Status: in_force

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 Statutes shall not apply to captive

insurance companies formed or licensed under the Oklahoma Captive

Insurance Company Act.
Okla. Stat. tit. 36, § 36-6060.9c — OK Code / Title 36 / Section 36-6060.9c
Anti-abuse-formulated opioids - Study of effectiveness
Status: in_force

The College of Pharmacy at Southwestern Oklahoma State

University shall analyze the effectiveness of the anti-abuse

properties of anti-abuse-formulated opioids. In addition, the

College of Pharmacy shall analyze the discrepancies between

insurance coverage for the anti-abuse-formulated prescription

opioids and coverage for prescription opioids without abuse-

deterrent properties. Such information shall be submitted in a

report to the President Pro Tempore of the Senate and the Speaker of

the House of Representatives on or before December 31, 2016.
Okla. Stat. tit. 36, § 36-4023 — OK Code / Title 36 / Section 36-4023
Standard provisions required in reversionary annuities
Status: in_force

A. Except as stated herein, no contract for a reversionary

annuity shall be delivered or issued for delivery in this state

unless it contains in substance each of the following provisions:

Oklahoma Statutes - Title 36. Insurance Page 833

1. Any such reversionary annuity contract shall contain the

provisions specified in Sections 4017, 4018, 4019, 4021 and 4022 of

this article, except that under said Section 4017 the insurer may at

its option provide for an equitable reduction of the amount of the

annuity payments in settlement of an overdue or deferred payment in

lieu of providing for deduction of such payments from an amount

payable upon settlement under the contract.

2. In such reversionary annuity contracts there shall be a

provision that the contract may be reinstated at any time within

three (3) years from the date of default in making stipulated

payments to the insurer, upon production of evidence of insurability

satisfactory to the insurer, and upon condition that all overdue

payments and any indebtedness to the insurer on account of the

contract be paid, or, within the limits permitted by the then cash

values of the contract, reinstated, with interest as to both

payments and indebtedness at a rate to be specified in the contract

but not exceeding six percent (6%) per annum compounded annually.

B. This section shall not apply to group annuities or to

annuities included in life insurance policies, and any of such

provisions not applicable to single premium annuities shall not to

that extent be incorporated therein.
Okla. Stat. tit. 36, § 36-1936 — OK Code / Title 36 / Section 36-1936
Restrictions on insurers subject to delinquency
Status: in_force

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 to solicit or accept new business or request or

accept the restoration of any suspended or revoked license or

certificate of authority;

3. be returned to the control of its shareholders or private

management; or

4. have any of its assets returned to the control of its

shareholders or private management;

until all payments of or on account of the insurer's contractual

obligations by all guaranty associations, along with all expenses

thereof and interest on all such payments and expenses, shall have

been repaid to the guaranty associations or a plan of repayment by

the insurer shall have been approved by the guaranty associations.
Okla. Stat. tit. 36, § 36-6570.5 — OK Code / Title 36 / Section 36-6570.5
Prior Authorization Application Programming Interface
Status: in_force

requirement.

A. For plan years beginning on or after January 1, 2027, a

health benefit plan must implement and maintain a Prior

Authorization Application Programming Interface (API), as described

in 45 C.F.R. Part 156.

B. By July 1, 2027, health care providers must have electronic

health records or practice management systems that are compatible

with the API.

C. As of the effective date of this act, a utilization review

entity must provide health care providers with the following

opportunities for communication during the prior authorization

process:

1. Make staff available at least eight (8) hours a day during

normal business hours for inbound telephone calls regarding prior

authorization issues;

2. Allow staff to receive inbound communication regarding prior

authorization issues after normal business hours; and

3. Provide a treating provider with the opportunity to discuss

a prior authorization denial with an appropriate reviewer.
Okla. Stat. tit. 36, § 36-102 — OK Code / Title 36 / Section 36-102
"Insurance" defined
Status: in_force

"Insurance" is a contract whereby one undertakes to indemnify

another or to pay a specified amount upon determinable

contingencies.
Okla. Stat. tit. 36, § 36-6933 — OK Code / Title 36 / Section 36-6933
Provision of basic health care services directly or by
Status: in_force

contract or agreement - Standards and procedures for selection of

providers - Chiropractic and vision care services - Referrals.

A. A health maintenance organization shall provide basic health

care services directly or by contract or agreement with other

persons, corporations, institutions, associations, foundations or

other legal entities, public or private, in accordance with the laws

governing such professions and services.

B. Each health maintenance organization shall have a defined

set of standards and procedures for selecting providers, including

specialists, to serve enrollees. The standards and procedures shall

be drafted in such a manner as to be applicable to all categories of

providers and shall be utilized by the health maintenance

organization in a manner that is without bias for or discrimination

against a particular category or categories of providers.

C. With respect to chiropractic services, such covered services

shall be provided on a referral basis within the network at the

request of an enrollee who has a condition of an orthopedic or

neurological nature if:

1. A referral is necessitated in the judgment of the primary

care physician; and

2. Treatment for the condition falls within the licensed scope

of practice of a chiropractic physician.

D. 1. Any health maintenance organization that offers services

for vision care or medical diagnosis and treatment for the eye shall

allow optometrists to be providers of those services.

2. Once a fee schedule has been negotiated, ophthalmologists

and optometrists shall be paid equally for the same services so long

as the services provided by the optometrists are within the scope of

the practice of optometry.

Oklahoma Statutes - Title 36. Insurance Page 1413

3. No health maintenance organization shall require a provider

of vision care or medical diagnosis and treatment for the eye to

have hospital privileges if hospital privileges are not usual and

customary for the services the provider provides.

4. With respect to optometric services, such covered services

shall be provided on a referral basis within the medical group or

network at the request of an enrollee who has a condition requiring

vision care or medical diagnosis and treatment of the eye if:

a. a referral is necessitated in the judgment of the

primary care physician, and

b. treatment for the condition falls within the licensed

scope of practice of an optometrist.

5. Nothing in this subsection shall be construed to:

a. prohibit any health maintenance organization that

offers services for vision care or medical diagnosis

and treatment for the eye from determining the

adequacy of the size of its network,

b. limit, expand or otherwise affect the scope of

practice of optometry, or

c. alter, repeal, modify or affect the laws of this state

except where such laws are in conflict or are

inconsistent with the express provisions of this

section.

6. Existing contracts shall comply with the requirements of

this subsection upon issuance or renewal on or after the effective

date of this act.

E. 1. A health maintenance organization shall not:

a. engage in the practice of medicine or any other

profession except as provided by law, or

b. prohibit or restrict a primary care physician from

referring a patient to a specialist within the network

if such referral is deemed medically necessary in the

judgment of the primary care physician.

2. A health maintenance organization shall provide basic health

care services in a manner that is reasonably geographically

convenient to residents of the service area for which it seeks a

license.
Okla. Stat. tit. 36, § 36-6417 — OK Code / Title 36 / Section 36-6417
Annual statement - Examination of Accounts, etc. - Report
Status: in_force

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 affairs during the preceding calendar year. The statement shall

contain such matters and information as are prescribed and shall be

in such form as is approved by the Commissioner. The Commissioner

may, at any time, require the Association to furnish additional

information with respect to its transactions, condition, operations,

and affairs, or any matter connected therewith considered to be

material and of assistance in evaluating the scope, operation and

experience of the Association.

B. The books of account, records, reports and other documents

of the Association shall be open and free for examination to the

Commissioner at all reasonable times.

C. The books of account, records, reports and other documents

of the Association shall be open to inspection by the members at

such times and under such conditions and regulations as the Board

shall determine.

D. The Association shall provide for the making of detailed

reports of liability approved or canceled, for the drawing up of

annual budgets of the Association and for the rendering of accounts

to each Board member at least every twelve (12) months.
Okla. Stat. tit. 36, § 36-6927 — OK Code / Title 36 / Section 36-6927
Public records - Trade secrets - Privileged or
Status: in_force

confidential information.

All applications, filings, provider contracts excluding any

financial terms and/or reimbursement criteria contained in such

contracts, and reports required under the Health Maintenance

Organization Act of 2003 shall be treated as public records, except

those that are trade secrets or privileged or confidential quality

assurance, commercial, financial or other information considered

privileged or confidential under state or federal law, including,

but not limited to, the Health Insurance Portability and

Accountability Act (HIPAA). Annual financial statements that may be

required under the provisions of Section 9 of this act shall be

treated as public records.
Okla. Stat. tit. 36, § 36-1615 — OK Code / Title 36 / Section 36-1615
Preferred or guaranteed stock
Status: in_force

An insurer may invest in preferred or guaranteed stocks or

shares of any solvent institution created or existing under the laws

of the United States or of any state, district or territory thereof,

if such stock and all of the prior obligations and prior preferred

stocks, if any, of such institution at the date of acquisition by

such insurer are not then in default.
Okla. Stat. tit. 36, § 36-944 — OK Code / Title 36 / Section 36-944
Motor vehicle policies - Restriction on cancellation or
Status: in_force

increasing rates.

No insurer shall, directly or indirectly, use traffic tickets or

convictions for traffic offenses as a basis for cancellation of

automobile insurance policies or increasing insurance premium rates

for automobile insurance policies where such ticket or conviction is

for exceeding the speed limit specified in Article 8 of Chapter 11

of Title 47 of the Oklahoma Statutes, but not exceeding the speed

limit previously in force where the violation occurred; nor shall

any insurer in any way penalize or adversely affect any insured for

any such violation or conviction.
Okla. Stat. tit. 36, § 36-6303 — OK Code / Title 36 / Section 36-6303
Release of relevant information - Information included
Status: in_force

A. Any authorized agency may by written request require an

insurance company to release to the authorized agency any relevant

information or evidence which the company may have in its

possession, relating to a fire or theft loss under investigation by

such agency. Relevant information includes, but is not limited to:

1. Information with regard to the policy covering a fire or

theft loss under investigation and any application for such policy;

2. Records of policy premium payments;

3. The limits of coverage under the policy;

4. History of previous claims made by the insured; and

5. Any material or evidence relating to the investigation of

the loss, including statements of any person or proof of loss.

B. When an insurance company has reason to believe that a fire

loss in which it has an interest may be of other than accidental

cause, the company shall in writing notify an authorized agency and

provide it with all information, documents and evidence relating to

the company's inquiry into the fire loss, for the purpose of having

such fire loss investigated.

C. An authorized agency provided with information pursuant to

subsections A or B of this section may release or provide such

information to any other authorized agency.

D. Any insurance company providing information to an authorized

agency pursuant to this act shall have the right to request from the

authorized agency additional information relating to the fire or

theft loss. The authorized agency may release the requested

information, but the release of the information is not mandatory.

Provided that the insured shall be notified of any information

provided pursuant to this act. Such notice shall include the name

Oklahoma Statutes - Title 36. Insurance Page 1184

and address of the entity to whom information is provided, as well

as copies of all information so provided if such copies are

requested by the insured.
Okla. Stat. tit. 36, § 36-6060.41 — OK Code / Title 36 / Section 36-6060.41
Definitions
Status: in_force

As used in the Oklahoma Right to Shop Act:

1. "Allowed amount" means the contractually agreed-upon amount

paid by a carrier to a health care entity participating in the

network of the carrier;

2. "Comparable health care service" means any covered

nonemergency health care service or bundle of services. The

Insurance Commissioner may limit what is considered a comparable

health care service if an insurance carrier can demonstrate allowed

amount variation among network providers is less than Fifty Dollars

($50.00);

Oklahoma Statutes - Title 36. Insurance Page 1119

3. "Health benefit plan" means any plan as defined in

subsection C of Section 6060.4 of Title 36 of the Oklahoma Statutes;

4. "Insurance carrier" or "carrier" means an insurance company

that issues policies of accident and health insurance and is

licensed to sell insurance in this state;

5. "Shared savings incentive" means a voluntary and optional

financial incentive that an insurance carrier may provide to an

enrollee for choosing certain health care services under a shared

savings incentive program; and

6. "Shared savings incentive program" means a voluntary and

optional incentive program established by an insurance carrier

pursuant to this act.
Okla. Stat. tit. 36, § 36-1424.19 — OK Code / Title 36 / Section 36-1424.19
Renumbered as § 1435.38 of this title by Laws 2001, c
Status: in_force

156, § 35, eff. Nov. 1, 2001.
Okla. Stat. tit. 36, § 36-1645 — OK Code / Title 36 / Section 36-1645
Recovery of distributions by receiver - Liability
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 491

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 controlled the insurer, the amount of

distributions (other than distributions of shares of the same class

of stock) paid by the insurer on its capital stock; or

2. Any payment in the form of a bonus, termination settlement

or extraordinary lump-sum salary adjustment made by the insurer or

its subsidiary, to a director, officer or employee,

where the distribution or payment pursuant to paragraph 1 or 2 of

this subsection is made at any time during the one (1) year

preceding the petition for liquidation, conservation or

rehabilitation, as the case may be, subject to the limitations of

subsections B, C and D of this section.

B. No distribution shall be recoverable if the parent or

affiliate shows that when paid the distribution was lawful and

reasonable, and that the insurer did not know and could not

reasonably have known that the distribution might adversely affect

the ability of the insurer to fulfill its contractual obligations.

C. Any person who was a parent corporation or holding company

or a person who otherwise controlled the insurer or affiliate at the

time the distributions were paid shall be liable up to the amount of

distributions or payments under subsection A of this section which

the person received. Any person who otherwise controlled the

insurer at the time the distributions were declared shall be liable

up to the amount of distributions that would have been received if

they had been paid immediately. If two or more persons are liable

with respect to the same distributions, they shall be jointly and

severally liable.

D. The maximum amount recoverable under this section shall be

the amount needed in excess of all other available assets of the

impaired or insolvent insurer to pay the contractual obligations of

the impaired or insolvent insurer and to reimburse any guaranty

funds.

E. To the extent that any person liable under subsection C of

this section is insolvent or otherwise fails to pay claims due from

it, its parent corporation or holding company or person who

otherwise controlled it at the time the distribution was paid shall

be jointly and severally liable for any resulting deficiency in the

amount recovered from the parent corporation or holding company or

person who otherwise controlled it.
Okla. Stat. tit. 36, § 36-660.1 — OK Code / Title 36 / Section 36-660.1
Definitions
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 165

As used in this act, unless the context otherwise requires:

1. "Board" means the board of directors of a converting mutual

insurer;

2. "Conversion" means a process by which a domestic mutual

insurer is converted to a domestic stock insurer as part of a

reorganization;

3. "Converted stock insurer" means a domestic stock insurer

into which a domestic mutual insurer is converted as part of a

reorganization;

4. "Converting mutual insurer" means a domestic mutual insurer

that is converting to a domestic stock insurer as part of a

reorganization;

5. "Effective date" means, with respect to a plan, the date on

which the plan or a part of the plan becomes effective as set forth

in an order of the Oklahoma Insurance Commissioner;

6. "Eligible member" means a member of the converting mutual

insurer whose insurance policy is in force as of the date on which

the board adopts the plan of reorganization or on some other date

that the plan specifies as the record date and that the Insurance

Commissioner approves;

7. "Intermediate stock holding company" means a corporation

that satisfies all of the following:

a. the corporation was incorporated under Title 18 of the

Oklahoma Statutes,

b. a mutual holding company holds directly or indirectly

at least a majority of the corporation's voting stock,

and

c. the corporation holds directly or indirectly at least

a majority of the voting stock of a converted stock

insurer;

8. "Member" means:

a. with respect to a domestic mutual insurer, a member as

described in Section 2115 of Title 36 of the Oklahoma

Statutes, or

b. with respect to a mutual holding company, any holder

of one or more policies of insurance, other than a

policy of reinsurance, issued by the converted stock

insurer resulting from a reorganization involving the

organization of a mutual holding company and, if

permitted under the articles of incorporation or

bylaws of the mutual holding company, may include any

holder of one or more policies of insurance, other

than a policy of reinsurance, issued by any other

insurer that is a direct or indirect subsidiary or

affiliate of the mutual holding company;

9. "Membership interest" means:

Oklahoma Statutes - Title 36. Insurance Page 166

a. with respect to a converting mutual insurer, a member

of a domestic mutual insurer shall have the same

character of rights and relationship as a stockholder

has toward a domestic stock insurer, with respect to

the management, records, and affairs of the insurer,

or

b. with respect to a mutual holding company on and after

the effective date of the plan, any right that a

member of the mutual holding company may hold by

virtue of membership in the mutual holding company

arising under the articles of incorporation and bylaws

of the mutual holding company, including the right to

vote for the board;

10. "Mutual holding company" means a corporation that is formed

and existing under the laws of this state and pursuant to the

reorganization of a mutual insurance company;

11. "Plan" means a plan of reorganization;

12. "Reorganization" means a process by which a domestic mutual

insurer is converted to a domestic stock insurer and a mutual

holding company is organized; and

13. "Voting stock" means:

a. stock of any class or any percentage ownership

interest having voting power for the election of

directors, trustees or management, and

b. includes stock having voting power only by reason of

the happening of a contingency.
Okla. Stat. tit. 36, § 36-932 — OK Code / Title 36 / Section 36-932
Joint underwriting or joint reinsurance
Status: in_force

A. Every group, association or other organization of insurers

which engages in joint underwriting or joint reinsurance, shall be

subject to regulation with respect thereto, as herein provided,

subject, with respect to joint underwriting, to all other provisions

of this act, and with respect to joint reinsurance as provided in

this act.

B. If, after a hearing, the Insurance Commissioner finds that

any activity or practice of any such group, association or other

Oklahoma Statutes - Title 36. Insurance Page 209

organization, is unfair or unreasonable, or otherwise inconsistent

with the provisions of this act, the Commissioner may issue a

written order specifying in what respects such act or practice is

unfair or unreasonable or otherwise inconsistent with the provisions

of this act, and require the discontinuance, within a reasonable

time under the circumstances, of such act or practice.
Okla. Stat. tit. 36, § 36-2675 — OK Code / Title 36 / Section 36-2675
Contracts; investments; law applicable
Status: in_force

A. A certified corporation, in addition to contracting with the

licensed dentists of the state, may contract for its subscribers the

use of hospital facilities located in the state.

B. A certified corporation may contract with any other person

who is licensed and qualified for the purpose of providing dental

services to or for the subscribers but no certified corporation

shall enter into an exclusive or preferential contract with any

person.

C. A certified corporation may contract with any other person

for the cooperative administration or underwriting with regard to

the performance of the obligations created upon it under the

contracts it issues to the subscribers and to participating

dentists.

D. A certified corporation may join with, contract with or

become a member of any organization of other dental service or

indemnity corporations, nonprofit hospital or hospital service

corporations or medical service or indemnity corporations, either

domestic or foreign, to create, establish or maintain an agency,

group or entity to facilitate the providing of dental services for

subscribers located within or outside the State of Oklahoma.

Oklahoma Statutes - Title 36. Insurance Page 702

E. A certified corporation may join with, contract with or

serve in any capacity with any agency of the United States of

America, the State of Oklahoma or any county, city or town, in

connection with any program or undertaking sponsored by one or more

of the above.

F. A certified corporation may invest in such real and personal

property as is reasonably necessary to conduct its business. No law

relating to insurance hereafter enacted shall apply to dental

service corporations unless expressly designated therein as

applicable.
Okla. Stat. tit. 36, § 36-943 — OK Code / Title 36 / Section 36-943
Motor vehicle policies - Insurers prohibited from
Status: in_force

canceling, increasing premium rates or refusing to issue or renew

policy based on traffic charges under certain circumstances.

Oklahoma Statutes - Title 36. Insurance Page 212

A. No insurance carrier who issues motor vehicle policies in

this state shall use traffic complaints, traffic citations or other

legal forms of traffic charges as a basis for cancellation of a

motor vehicle insurance policy, increasing premium rates for a motor

vehicle insurance policy or refusing to issue or renew a motor

vehicle insurance policy, where:

1. the insured was acquitted of the charge;

2. the insured was arrested and no charges were filed; or

3. the insured was arrested and the charges were dismissed.

B. The Insurance Commissioner may suspend or revoke, after

notice and hearing, the certificate of authority to transact

insurance business in this state of any insurance carrier violating

the provisions of this section or may censure the insurer or impose

a fine.
Okla. Stat. tit. 36, § 36-6212 — OK Code / Title 36 / Section 36-6212
Fees - Notification of change of name, address, or e-mail
Status: in_force

address.

Oklahoma Statutes - Title 36. Insurance Page 1169

A. The Insurance Commissioner or an administrator approved by

the Insurance Commissioner shall collect a fee of Twenty Dollars

($20.00) for an examination for an adjuster's license in any of the

following single classes of business. The fee for any examination

which includes two or more classes of business shall not exceed

Forty Dollars ($40.00). The classes of business are:

1. Motor vehicle physical damage;

2. Fire and allied lines (property);

3. Casualty;

4. Workers' compensation;

5. Crime and fidelity bonds; and

6. Crop/hail.

B. The Commissioner shall collect the following fees for an

adjuster's license:

1. For a license in any single class of business, every two (2)

years, Thirty Dollars ($30.00);

2. For a license in any combination of two or more classes of

business, every two years, Fifty Dollars ($50.00);

3. Public adjuster, every two years, Thirty Dollars ($30.00);

4. Emergency adjuster, as provided for in Section 6218 of this

title, each year, Fifteen Dollars ($15.00); and

5. Apprentice adjuster, as provided for in Section 6204.1 of

this title, Twenty Dollars ($20.00).

C. The fees prescribed in this section shall accompany the

application for an original license or a renewal of a license.

D. The fee for the original license or renewal license shall be

collected in advance of issuance. Late application for renewal

shall require a fee of double the amount of the original license

fee.

E. The Commissioner may issue a duplicate license for any lost,

stolen, or destroyed license issued pursuant to the provisions of

the Insurance Adjusters Licensing Act if an affidavit is submitted

by the licensee to the Commissioner concerning the facts of such

loss, theft, or destruction. The affidavit shall be in a form

prescribed by the Commissioner. The fee for a duplicate license

shall be one-half (1/2) the fee of the license.

F. Licensees shall inform by any means acceptable to the

Commissioner of a change of legal name, address or e-mail address

within thirty (30) days of the change to permit the Commissioner to

give proper notice to licensees. A change in legal name or address

submitted more than thirty (30) days after the change shall include

an administrative fee of Fifty Dollars ($50.00). Failure to provide

acceptable notification of a change of legal name or address to the

Commissioner within forty-five (45) days of the date the

administrative fee is assessed shall result in penalties pursuant to

subsection B of Section 6220 of this title.

Oklahoma Statutes - Title 36. Insurance Page 1170
Okla. Stat. tit. 36, § 36-1425.8 — OK Code / Title 36 / Section 36-1425.8
Renumbered as § 1435.39 of this title by Laws 2001, c
Status: in_force

156, § 35, eff. Nov. 1, 2001.
Okla. Stat. tit. 36, § 36-5008 — OK Code / Title 36 / Section 36-5008
Release of mortgage affidavit
Status: in_force

A. As used in this section:

1. "Mortgage" means a contract lien on an interest in real

property;

2. "Mortgagee" means:

a. the grantee of a mortgage,

b. if a mortgage has been assigned of record, the last

person or entity to whom the mortgage or judgment lien

has been assigned of record, or

c. if a mortgage is serviced by a mortgage servicer, the

mortgage servicer;

3. "Mortgage servicer" means the last person or entity to whom

a mortgagor has been instructed by a mortgagee to send payments for

the loan secured by a mortgage or judgment lien. A person or entity

transmitting a payoff statement is considered the mortgage servicer

for the mortgage or judgment lien described in the payoff statement;

4. "Mortgagor" means the grantor of a mortgage;

5. "Payoff statement" means a statement of the amount of:

a. the unpaid balance of a loan secured by a mortgage or

judgment lien, including principal, interest, and

other charges properly assessed under the loan

documentation of the mortgage or judgment lien, and

Oklahoma Statutes - Title 36. Insurance Page 1023

b. interest on a per diem basis for the unpaid balance;

and

6. "Title insurance company" means a corporation or other

business entity authorized and licensed to transact business of

insuring titles to interests in real property in this state.

B. This section applies only to a mortgage or judgment lien on

all real property including commercial or agriculture or a one- to

four-family residence, including a residential unit in a condominium

regime.

C. If a mortgagee or judgment lienholder fails to execute and

deliver a release of mortgage or judgment lien to the mortgagor or

designated agent of the mortgagor within sixty (60) days after the

date of receipt of payment of the mortgage by the mortgagee or

judgment lienholder in accordance with a payoff statement furnished

by the mortgagee or judgment lienholder or its mortgage servicer, an

authorized officer of a title insurance company or a duly appointed

agent of the title insurance company, on behalf of the mortgagor or

a transferee of the mortgagor who acquired title to the property

described in the mortgage, may execute and record an affidavit in

the real property records of each county in which the mortgage or

judgment lien was recorded. The written signature of the agent of

the title insurance company or attorney shall appear on the

affidavit. An authorized officer of a title insurance company or a

duly appointed agent of the title insurance company shall not

require a mortgagor or a judgment debtor to pay a fee associated

with the affidavit referenced in this subsection.

D. An affidavit executed under this section shall state that:

1. The affiant is an authorized officer or a duly appointed

agent of a title insurance company;

2. The affidavit is made on behalf of the mortgagor or a

transferee of the mortgagor who acquired title to the property

described in the mortgage;

3. The mortgagee or judgment lienholder provided a payoff

statement with respect to the loan secured by the mortgage or

judgment lien;

4. The affiant has ascertained that the mortgagee or judgment

lienholder has received payment of the loan secured by the mortgage

or judgment lien in accordance with the payoff statement, as

evidenced by:

a. a bank check, certified check, cashier's check, escrow

account check from the title company or title

insurance agent or attorney trust account check that

has been negotiated by the mortgagee or judgment

lienholder,

b. wire transfer, or

c. another documentary evidence of the receipt of payment

by the mortgagee or judgment lienholder;

Oklahoma Statutes - Title 36. Insurance Page 1024

5. More than sixty (60) days have elapsed since the date

payment was received by the mortgagee or judgment lienholder;

6. The title insurance company or its duly appointed agent has

given the mortgagee or judgment lienholder at least fifteen (15)

days' notice in writing by certified mail, return receipt requested,

of its intention to execute and record an affidavit in accordance

with this section, with a copy of the proposed affidavit attached to

the written notice; and

7. The mortgagee or judgment lienholder has not responded in

writing to the notification at least fifteen (15) days before the

affidavit is recorded.

E. The affidavit must include the names of the mortgagor and

the mortgagee or judgment lienholder, the date of the mortgage, the

legal description of the property, and the book and page or clerk's

document number of the real property records where the mortgage or

lien and/or modification is recorded, together with similar

information for a recorded assignment of the mortgage or judgment

lien.

F. The affiant shall attach to the affidavit a photostatic

copy, certified by the affiant as a true copy of the original

document, of:

1. The documentary evidence that payment has been received by

the mortgagee or judgment lienholder, including the endorsement of

the mortgagee or judgment lienholder of a negotiated check if paid

by check or proof of a wire transfer if paid by wire. The bank

account number and routing number on the check or proof of wire

transfer may be redacted by the filer; and

2. The payoff statement.

G. An affidavit that is executed and recorded as provided by

this section shall operate as a release of the mortgage or judgment

lien described in the affidavit.

H. The county clerk shall index the affidavit against the real

property described in the mortgage or judgment lien and the

affidavit.

I. A person who knowingly causes an affidavit with false

information to be executed and recorded under this section is liable

for the penalties for filing a false affidavit, including the

penalties for commission of offenses pursuant to the appropriate

section of the penal code, and to a party injured by the affidavit

for actual damages of Five Thousand Dollars ($5,000.00), whichever

is greater. The Attorney General may sue to collect the penalty.

If the Attorney General or an injured party bringing suit

substantially prevails in an action under this subsection, the court

may award reasonable attorney fees and court costs to the prevailing

party.

J. Nothing provided for in this section shall preclude the

mortgagor from availing itself of the remedies provided for in

Oklahoma Statutes - Title 36. Insurance Page 1025

Section 15 of Title 46 of the Oklahoma Statutes which provides for

penalties against the mortgagee or judgment lienholder for failure

to release a mortgage or judgment lien pursuant to the payment in

full and request for release on behalf of the mortgagor.
Okla. Stat. tit. 36, § 36-2601 — OK Code / Title 36 / Section 36-2601
Corporations authorized - Powers
Status: in_force

A. Corporations may be organized not for profits under the laws

of the State of Oklahoma, for the purpose of establishing,

maintaining and operating a not-for-profit hospital service or

indemnity plan, and/or a not-for-profit medical or indemnity plan,

for the purpose of making contracts of insurance or indemnity, or

for the purpose of making indemnity plan contracts, or for all such

purposes, by complying with the provisions of this article and shall

be exempt from all other provisions of the insurance laws and the

general corporation laws of this state, unless otherwise

specifically provided herein.

B. Every corporation organized under the provisions of this

article may, in the corporate name:

1. Sue and be sued;

2. Enter into contracts;

3. Prescribe qualifications and the manner and form of

admission or withdrawal of members;

4. Have and use a common seal which may be changed or altered

at pleasure;

Oklahoma Statutes - Title 36. Insurance Page 682

5. Take, purchase, lease, hold or dispose of real or personal

property in the corporate name, or in the name of trustees chosen by

the board of directors;

6. Invest, loan, borrow money and incur debt, and engage in all

forms of business transactions which are not inconsistent with the

articles of incorporation or bylaws of the corporation, or with law;

7. Make all necessary rules and regulations concerning risks or

hazards incurred, the premium rates to be used, and adjustment and

payment of losses;

8. Insure, indemnify, and fix the compensation of directors and

officers of the corporation and require bond for the faithful

performance of duties by such directors and officers;

9. Exercise all such other powers as may be necessary to carry

into effect the purpose or object of such corporation subject to the

restrictions provided in this section;

10. Make or amend bylaws not inconsistent with law or

provisions of the articles of incorporation, provided such bylaws

shall fix the date and place of the annual meeting of members, shall

designate the number of directors which shall not be less than five

(5), and shall define the duties of the officers and fix the term of

office of the directors and officers of such corporation; and

11. Make all further necessary provisions concerning the

conduct of the business affairs of the corporation.
Okla. Stat. tit. 36, § 36-1250.13 — OK Code / Title 36 / Section 36-1250.13
Cease and desist order – Enforcement
Status: in_force

A. The Insurance Commissioner, upon finding an insurer in

violation of any provision of the Unfair Claims Settlement Practices

Act, shall issue a cease and desist order to said insurer directing

it to stop such unlawful practices. If the insurer refuses or fails

to comply with said order, the Commissioner shall have the authority

to revoke or suspend the insurer's certificate of authority. The

Commissioner shall also have the authority to limit, regulate, and

control the insurer's line of business, the insurer's writing of

Oklahoma Statutes - Title 36. Insurance Page 318

policy forms or other particular forms, and the insurer's volume of

its line of business or its writing of policy forms or other

particular forms. The Commissioner shall use the above authority to

the extent deemed necessary to obtain the insurer's compliance with

the order. The Attorney General shall offer his assistance if

requested by the Commissioner to enforce the Commissioner's orders.

B. Reasonable attorney fees shall be awarded the Commissioner

if judicial action is necessary for the enforcement of the orders.

Such fees shall be based upon those prevailing in the community.

Fees collected by the Commissioner without the assistance of the

Attorney General shall be credited to the Insurance Commissioner's

Revolving Fund. Fees collected by the Attorney General shall be

credited to the Attorney General's Revolving Fund.
Okla. Stat. tit. 36, § 36-1143 — OK Code / Title 36 / Section 36-1143
Review of advisory organization actions
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 265

A. Every advisory organization which makes its own rates shall

provide within this state reasonable means whereby any insured

aggrieved by the application of its rating system may, upon that

insured's written request, be heard in person or by the insured's

authorized representative to review the manner in which such rating

system has been applied in connection with the insurance afforded

the aggrieved insurer.

B. An insurer or any party affected by the action of an

advisory organization may, within thirty (30) days after written

notice of that action, make application, in writing, for an appeal

to the Insurance Commissioner, setting forth the basis for the

appeal and the grounds to be relied upon by the applicant.

C. Within thirty (30) days, the Commissioner shall review the

application and, if the Commissioner finds that the application is

made in good faith and that it sets forth on its face grounds which

reasonably justify holding a hearing, the Commissioner shall conduct

a hearing held not less than ten (10) days after written notice to

the applicant and to the advisory organization. The Commissioner,

after a hearing, shall affirm or reverse the action of the advisory

organization.
Okla. Stat. tit. 36, § 36-6402 — OK Code / Title 36 / Section 36-6402
Rates
Status: in_force

The rates for such custom harvesting insurance shall be those

rates on file with the Insurance Commissioner on May 15, 1986, or if

Oklahoma Statutes - Title 36. Insurance Page 1185

such rates are not on file and need to be submitted or filed with

the Insurance Commissioner.
Okla. Stat. tit. 36, § 36-2922 — OK Code / Title 36 / Section 36-2922
Subscriber's liability on judgments
Status: in_force

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 proportion as his interests may appear and in amount not

exceeding his contingent liability, if any.
Okla. Stat. tit. 36, § 36-4217 — OK Code / Title 36 / Section 36-4217
Provisions inapplicable to single premium or term
Status: in_force

policies.

Any of the provisions required by Sections 4214 to 4216,

inclusive, of this article or any portion thereof which are not

applicable to single premium or term policies or to policies issued

or granted pursuant to nonforfeiture provisions shall to that extent

not be incorporated therein.
Okla. Stat. tit. 36, § 36-7129 — OK Code / Title 36 / Section 36-7129
Examination of wholesale costs
Status: in_force

The Insurance Commissioner may examine each organization so as

to approve the determination by the organization of the wholesale

costs made pursuant to Section 7126 of this title. The examination

shall be conducted pursuant to Sections 309.1 through 309.7 of Title

36 of this title and the cost of the examination shall be paid by

the cemetery owner. The cost of the examination shall be billed

directly to the cemetery owner by the examiner.
Okla. Stat. tit. 36, § 36-2812 — OK Code / Title 36 / Section 36-2812
Extension of membership
Status: in_force

Nothing in this article shall prevent the membership of any

association from being extended from one county to another provided

the said county into which said membership is extended shall not

cover a territory greater than forty-five counties, nor shall

anything in this article be construed to repeal or conflict with any

law of this state controlling mutual insurance companies engaged in

writing risks in this state.
Okla. Stat. tit. 36, § 36-710 — OK Code / Title 36 / Section 36-710
Limit of risk
Status: in_force

A. No insurer shall retain any risk on any one subject of

insurance, whether located or to be performed in Oklahoma or

elsewhere, in an amount exceeding ten percent (10%) of its surplus

to policyholders.

B. A "subject of insurance" for the purposes of this section,

as to insurance against fire and hazards other than windstorm or

earthquake, includes all properties insured by the same insurer

which are customarily considered by underwriters to be subject to

loss or damage from the same fire or other such hazard insured

against.

C. Reinsurance authorized by Section 711 of this article shall

be deducted in determining risk retained. As to surety risks,

deduction shall also be made of the amount assumed by any

established incorporated cosurety and the value of any security

deposited, pledged, or held subject to the surety's consent and for

the surety's protection.

D. "Surplus to policyholders" for the purpose of this section

shall be deemed to include any voluntary reserves which are not

required pursuant to law, and shall be determined from the last

sworn statement of the insurer on file with the Insurance

Commissioner or by the last report of examination by the Insurance

Commissioner, whichever is the more recent at time of assumption of

such risk.

E. As to alien insurers, other than life insurers domiciled in

Canada, this section shall relate only to risks and surplus to

policyholders of the insurer's United States branch.

F. This section shall not apply to group life or group or

blanket accident and health insurance, title insurance, insurance of

ocean marine risks or maine protection and indemnity risks, workers'

compensation insurance, employers' liability coverages, nor to any

policy or type of coverage as to which the maximum possible loss to

the insurer is not readily ascertainable on issuance of the policy.
Okla. Stat. tit. 36, § 36-1614 — OK Code / Title 36 / Section 36-1614
Corporate obligations
Status: in_force

A. An insurer may invest in bonds, debentures, notes and other

evidences of indebtedness issued, assumed or guaranteed by any

solvent institutions created or existing under the laws of the

United States or of any state, district or territory thereof, which

are not in default as to principal or interest.

Oklahoma Statutes - Title 36. Insurance Page 433

B. An insurer may invest in fixed interest bearing obligations,

other than those described in subsection A of this section, of such

institutions if not in default.
Okla. Stat. tit. 36, § 36-1705 — OK Code / Title 36 / Section 36-1705
Rights of insurer during solvency
Status: in_force

So long as the insurer remains solvent and complies with this

Code it may:

1. Demand, receive, sue for and recover the income from the

securities or cash deposited;

2. Exchange and substitute for the deposited cash or

securities, or any part thereof, cash or eligible securities of

equivalent or greater value; and

3. Inspect, at reasonable times, any such deposit.
Okla. Stat. tit. 36, § 36-2685 — OK Code / Title 36 / Section 36-2685
Tax exemption
Status: in_force

Every corporation doing business pursuant to this Article is

hereby declared to be a nonprofit, charitable and benevolent

institution and to be exempt from state, county, district, municipal

and school taxes, including the taxes prescribed by the Oklahoma

Insurance Code, excepting only the fees prescribed by Section 321 of

Title 36, Oklahoma Statutes, and taxes on real and tangible personal

property situated within this state.
Okla. Stat. tit. 36, § 36-2120 — OK Code / Title 36 / Section 36-2120
Nonassessable policies - revocation of authority
Status: in_force

A. The Insurance Commissioner shall revoke the authority of a

domestic mutual insurer to issue policies if at any time the

insurer's assets are less than the sum of its liabilities and the

surplus required for such authority, or if the insurer, by

resolution of its board of directors approved by a majority of its

members, requests that the authority be revoked.

B. Policyholders, members or subscribers of a mutual insurer

shall at no time be liable for assessment on policies by such

insurer. Henceforth, no policies shall be issued or renewed by a

domestic mutual insurer which contain provisions for assessment or

contingent liability of an insured, member or subscriber.
Okla. Stat. tit. 36, § 36-4205 — OK Code / Title 36 / Section 36-4205
Application and policy as entire contract; statements in
Status: in_force

application as representations.

There shall be a provision that the policy shall constitute the

entire contract between the parties, or, if a copy of the

application is endorsed upon or attached to the policy when issued,

a provision that the policy and the application therefor shall

constitute the entire contract. If the application is so made a

part of the contract, the policy shall also provide that all

statements made by the applicant in such application shall, in the

absence of fraud, be deemed to be representations and not

warranties.
Okla. Stat. tit. 36, § 36-2101 — OK Code / Title 36 / Section 36-2101
Scope of article
Status: in_force

A. This article shall apply to domestic stock insurers and

domestic mutual insurers only except that it shall not apply to

farmers' mutual fire insurance associations organized under Article

28 of this Code, to any association organized under the supervision

or by authority of any legally incorporated Grange Order of Patrons

of Husbandry, or to the Oklahoma State Union of the Farmer's

Educational and Cooperative Union of America, when such association

is formed for the mutual benefit of the members of such order or

orders exclusively.

Subsection B of Section 2115 and subsection C of Section 2119 of

this article shall apply also to foreign and alien mutual insurers.

B. Any domestic stock or mutual insurer which as of April 1,

1957, had duly filed its articles of incorporation and was lawfully

in process of completing its organization, shall complete its

organization according to such procedures as were provided by laws

in force immediately prior to the effective date of this Code.

Any other domestic stock or mutual insurer in process of

organization on the effective date of this Code shall be governed by

such provisions of this article as the Insurance Commissioner deems

to be practicably applicable, and otherwise according to laws in

force immediately prior to such effective date.

C. Existing domestic stock and mutual insurers are governed by

the applicable provisions of this article.
Okla. Stat. tit. 36, § 36-619.3 — OK Code / Title 36 / Section 36-619.3
Motor vehicle liability insurer compliance
Status: in_force

All insurers, as a condition of writing motor vehicle liability

policies in this state, shall comply with the requirements of

Section 7-600.2 of Title 47 of the Oklahoma Statutes.
Okla. Stat. tit. 36, § 36-4077 — OK Code / Title 36 / Section 36-4077
Information required to be submitted to Insurance
Status: in_force

Commissioner.

Oklahoma Statutes - Title 36. Insurance Page 915

Except as otherwise required by this act, a qualified charitable

organization shall not be required to submit information to the

Insurance Commissioner except as necessary to determine any

penalties pursuant to Section 10 of this act.
Okla. Stat. tit. 36, § 36-1534 — OK Code / Title 36 / Section 36-1534
Purpose of act
Status: in_force

A. The purpose of this act is to:

1. Provide the Commissioner of the Oklahoma Insurance

Department a summary of an insurer or insurance group's corporate

governance structure, policies and practices to permit the

Commissioner to gain and maintain an understanding of the insurer's

corporate governance framework;

2. Outline the requirements for completing a Corporate

Governance Annual Disclosure (CGAD) with the Commissioner; and

3. Provide for the confidential treatment of the CGAD and

related information that will contain confidential and sensitive

information related to an insurer or insurance group's internal

operations and proprietary and trade secret information which, if

made public, could potentially cause the insurer or insurance group

competitive harm or disadvantage.

B. Nothing in this act shall be construed to prescribe or

impose corporate governance standards and internal procedures beyond

those which are required under applicable state corporate law.

Notwithstanding the foregoing, nothing in this act shall be

construed to limit the Commissioner's authority or the rights or

obligations of third parties under Sections 309.1 through 309.7 of

Title 36 of the Oklahoma Statutes.

C. The requirements of this act shall apply to all insurers

domiciled in this state.
Okla. Stat. tit. 36, § 36-1472 — OK Code / Title 36 / Section 36-1472
Definitions
Status: in_force

As used in this act:

1. "Actuary" means a person who is a member in good standing of

the American Academy of Actuaries;

2. "Insurer" means any person licensed pursuant to the Oklahoma

Insurance Code to transact insurance;

3. a. "Managing General Agent" or "MGA" means any person

who:

(1) manages all or part of the insurance business of

an insurer, including the management of a

separate division, department or underwriting

office, and

(2) acts as an agent for such insurer, whether known

as a managing general agent, manager or other

similar term, and

(3) directly or indirectly, with or without the

authority of the insurer, whether separately or

together with affiliates, produces and

underwrites an amount of gross direct written

premium equal to or greater than five percent

(5%) of the policyholder surplus, as reported in

the last annual statement of the insurer in any

one quarter or year together with the following

activities related to the business produced:

(a) adjusts or pays claims in excess of an

amount determined by the Insurance

Commissioner, or

(b) negotiates reinsurance on behalf of the

insurer.

Oklahoma Statutes - Title 36. Insurance Page 378

b. Notwithstanding subparagraph a of this paragraph, the

following persons shall not be considered to be

managing general agents for the purpose of this act:

(1) an employee of the insurer,

(2) a U.S. Manager of the United States branch of an

alien insurer,

(3) an underwriting manager which, pursuant to

contract:

(a) manages all the insurance operations of the

insurer,

(b) is under common control with the insurer,

subject to the holding company regulatory

act, and

(c) whose compensation is not based on the

volume of premiums written, and

(4) the attorney-in-fact authorized by and acting for

the subscribers of a reciprocal insurer or

interinsurance exchange under powers of an

attorney;

4. "Underwrite" means the authority to accept or reject risk on

behalf of the insurer.
Okla. Stat. tit. 36, § 36-6985 — OK Code / Title 36 / Section 36-6985
Examination of business affairs by Insurance
Status: in_force

Commissioner.

A. The Insurance Commissioner may conduct an examination of the

business affairs of any prepaid vision plan organization as often as

the Commissioner deems necessary for the protection of the interests

of the people of this state.

B. Any receivership, rehabilitation, liquidation, or

conservation of a prepaid vision plan organization shall be

conducted pursuant to the provisions for the receivership,

rehabilitation, liquidation, or conservation of an insurer provided

for by Articles 18 and 19 of Title 36 of the Oklahoma Statutes.

C. The Commissioner shall promulgate any rules necessary to

effectuate the provisions of this act.
Okla. Stat. tit. 36, § 36-311A.5 — OK Code / Title 36 / Section 36-311A.5
Contents of annual audited financial report
Status: in_force

A. The annual audited financial report shall report the

financial position of the insurer as of the end of the most recent

calendar year and the results of its operations, cash flows, and

changes in capital and surplus for the year then ended in conformity

with statutory accounting practices prescribed, or otherwise

permitted, by the Department of Insurance of the state of domicile.

B. The annual audited financial report shall include the

following:

1. Report of independent certified public accountant;

2. Balance sheet reporting admitted assets, liabilities,

capital, and surplus;

3. Statement of operations;

4. Statement of cash flows;

5. Statement of changes in capital and surplus;

6. Notes to financial statements. These notes shall be those

required by the appropriate NAIC Annual Statement Instructions and

the NAIC Accounting Practices and Procedures Manual. The notes

shall include a reconciliation of differences, if any, between the

audited statutory financial statements and the annual statement

filed pursuant to Section 311 of Title 36 of the Oklahoma Statutes

with a written description of the nature of these differences; and

7. The financial statements included in the audited financial

report shall be prepared in a form and using language and groupings

substantially the same as the relevant sections of the annual

statement of the insurer filed with the Commissioner, and the

financial statement shall be comparative, presenting the amounts as

of December 31 of the current year and the amounts as of the

immediately preceding December 31. However, in the first year in

which an insurer is required to file an audited financial report,

the comparative data may be omitted.
Okla. Stat. tit. 36, § 36-401 — OK Code / Title 36 / Section 36-401
Short title
Status: in_force

Sections 1 through 6 of this act shall be known and may be cited

as the “Crimes By or Affecting Persons Engaged in the Business of

Insurance Act”.
Okla. Stat. tit. 36, § 36-1424.12 — OK Code / Title 36 / Section 36-1424.12
Renumbered as § 1435.34 of this title by Laws 2001, c
Status: in_force

156, § 35, eff. Nov. 1, 2001.
Okla. Stat. tit. 36, § 36-4804 — OK Code / Title 36 / Section 36-4804
Policy limited – Liability - Excess premiums reimbursed
Status: in_force

No insurance company shall, knowingly, issue any fire insurance

policy upon property within this state for an amount which, with any

existing insurance thereon, exceeds the fair value of the property.

If buildings insured against loss by fire, and situated within this

state, are totally destroyed by fire, the company shall not be

liable beyond the actual value of the insured property at the time

of the loss or damage, and if it shall appear that the insured has

paid premiums on an amount in excess of said actual value, the

assured shall be reimbursed the proportionate excess of premiums

paid on the difference between the amount named in the policy and

said actual value, with interest at six percent (6%) per annum from

the date of issue.
Okla. Stat. tit. 36, § 36-317 — OK Code / Title 36 / Section 36-317
Witnesses or evidence
Status: in_force

A. The Insurance Commissioner may take depositions, subpoena

witnesses or documentary evidence, administer oaths, and examine

under oath any individual relative to the affairs of any person

being examined, or relative to the subject of any hearing or

investigation.

Oklahoma Statutes - Title 36. Insurance Page 104

B. All administrative subpoenas shall be served in the same

manner as if issued from a district court or in accordance with the

Administrative Procedures Act. If any person fails to obey a

subpoena lawfully served, the Commissioner may forthwith report such

disobedience, together with a copy of the subpoena and proof of

service thereof, to the district court of the county in which the

person was required to appear, and such court shall forthwith cause

such person to be produced and shall impose penalties as though the

person had disobeyed a subpoena issued out of such court.
Okla. Stat. tit. 36, § 36-1162 — OK Code / Title 36 / Section 36-1162
Reinstatement into individual health plan coverage -
Status: in_force

Right to request - Time - Written notice.

A. No Oklahoma resident activated for military service, and no

spouse or any dependents of such a resident who become eligible for

a federal government-sponsored health insurance program as a result

of such activation, shall be denied reinstatement into the same

individual coverage with the same health plan that such resident

lapsed as a result of activation or becoming covered by the federal

government-sponsored health insurance program. Such resident will

have the right to reinstatement in the same individual coverage

without medical underwriting and in the same rating tier that the

resident held prior to activation or becoming covered under the

federal government-sponsored health insurance program, subject to

payment of the current premium charged to other persons of the same

age and gender that are covered under the same individual coverage.

Except in the case of birth or adoptions that occur during the

period of activation, reinstatement must be into the same membership

type, or a membership type covering fewer persons, as such resident

held prior to lapsing the individual coverage, and at the same or

higher deductible level. The reinstatement rights shall not be

available to an insured or dependents if the activated person is

discharged from the military under other than honorable conditions.

B. The health plan with which the reinstatement is being

requested must receive a request for such reinstatement no later

than thirty (30) days following the later of deactivation or loss of

coverage under the federal government-sponsored health insurance

program. The health plan may request proof of loss and the timing

of the loss of such government-funded coverage in order to determine

eligibility for reinstatement into the individual coverage. The

effective date of the individual coverage will be the first of the

month following receipt of the notice requesting reinstatement.

C. All health plans must provide written notice to the

policyholder of individual coverage of the rights described in

subsection A of this section and amendments thereto. In lieu of the

Oklahoma Statutes - Title 36. Insurance Page 269

inclusion of such notice in the individual coverage policy, an

insurance company will satisfy the notification requirement by

providing a single written notice either:

1. To a policyholder enrolling into the individual coverage

initially after the effective date of this act, in conjunction with

the enrollment process; or

2. By mailing written notice to policyholders whose coverage

was effective prior to the effective date of this act no later than

ninety (90) days following the effective date of this act.
Okla. Stat. tit. 36, § 36-1531 — OK Code / Title 36 / Section 36-1531
Foreign insurers
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 422

A. 1. Any foreign insurer shall, upon the written request of

the Insurance Commissioner, submit to the Commissioner an RBC Report

as of the end of the calendar year just ended on a date which is the

later of:

a. the date an RBC Report would be required to be filed

by a domestic insurer under this act, or

b. fifteen (15) days after the request is received by the

foreign insurer.

2. Any foreign insurer shall, at the written request of the

Commissioner, promptly submit to the Commissioner a copy of any RBC

Plan that is filed with the Insurance Commissioner of any other

state.

B. 1. The Commissioner may require a foreign insurer to file

an RBC Plan with the Commissioner in the event of a Company Action

Level Event, Regulatory Action Level Event, or Authorized Control

Level Event. The filing shall be made pursuant to the RBC statute

applicable in the state of domicile of the insurer or, if no RBC

statute is in force in that state, pursuant to the provisions of

this act. If the insurance commissioner of the state of domicile of

the foreign insurer fails to require the foreign insurer to file an

RBC Plan in the manner specified under that state's RBC statute or,

if no RBC statute is in force in that state, the filing shall be

made pursuant to Section 5 of this act.

2. The failure of the foreign insurer to file an RBC Plan with

the Commissioner shall be grounds to order the insurer to cease and

desist from writing new insurance business in this state.

C. In the event of a Mandatory Control Level Event with respect

to any foreign insurer, if no domiciliary receiver has been

appointed with respect to the foreign insurer under the

rehabilitation and liquidation statute applicable in the state of

domicile of the foreign insurer, the Commissioner may make

application to the Oklahoma County District Court as permitted under

Article 19 of the Oklahoma Insurance Code with respect to the

liquidation of property of foreign insurers found in this state.
Okla. Stat. tit. 36, § 36-4204 — OK Code / Title 36 / Section 36-4204
Grace period
Status: in_force

There shall be a provision that the insured is entitled to a

grace period of four (4) weeks within which the payment of any

Oklahoma Statutes - Title 36. Insurance Page 931

premiums after the first may be made, except that in policies the

premiums for which are payable monthly, the period of grace shall be

one (1) month, but not less than thirty (30) days, and that during

the period of grace the policy shall continue in full force, but if

during the grace period the policy becomes a claim, then any overdue

and unpaid premiums may be deducted from any settlement under the

policy.
Okla. Stat. tit. 36, § 36-6306 — OK Code / Title 36 / Section 36-6306
Violations - Penalties
Status: in_force

Any insurer who intentionally or knowingly refuses to release,

provide or hold in confidence any information required by this act

to be released, provided, or held in confidence is guilty of a

misdemeanor, and upon conviction shall be punished by a fine not to

exceed One Thousand Dollars ($1,000.00).
Okla. Stat. tit. 36, § 36-5401 — OK Code / Title 36 / Section 36-5401
Definitions
Status: in_force

As used in this act:

1. "340B drug" means a drug that has been subject to any offer

for reduced prices by a manufacturer pursuant to Section 256b of

Title 42 of the United States Code and is purchased by a covered

Oklahoma Statutes - Title 36. Insurance Page 1054

entity as defined in Section 256b(a)(4) of Title 42 of the United

States Code;

2. "340B entity" means an entity participating or authorized to

participate in the federal 340B drug discount program, as described

in Section 256b of Title 42 of the United States Code, including its

pharmacy, or any pharmacy contracted with the participating entity

to dispense drugs purchased through the 340B drug discount program;

3. "Pharmacy" means a pharmacy licensed by the Oklahoma State

Board of Pharmacy, except that patients who are provided pharmacy

care shall be physically located in the state; and

4. "Pharmacy benefits manager" means a person that performs

pharmacy benefits management and any other person acting for such

person under a contractual or employment relationship in the

performance of pharmacy benefits management for a managed care

company, nonprofit hospital, medical service organization, insurance

company, third-party payor or a health program administered by a

department of this state.
Okla. Stat. tit. 36, § 36-1908 — OK Code / Title 36 / Section 36-1908
Grounds for conservation of alien insurers
Status: in_force

The Insurance Commissioner may apply to the court for an order

appointing him as receiver or ancillary receiver, and directing him

to conserve the assets within this state of any alien insurer upon

any of the following grounds:

1. Upon any of the grounds specified in sections 1805 or 1806

of this article.

2. Upon the ground that the insurer has failed to comply,

within the time designated by the Insurance Commissioner, with an

order made by him to make good an impairment of its trusteed funds,

or

3. Upon the ground that the property of the insurer has been

sequestrated in its domiciliary sovereignty or elsewhere.
Okla. Stat. tit. 36, § 36-2608.1 — OK Code / Title 36 / Section 36-2608.1
Directors
Status: in_force

A. The business and affairs of every corporation organized

pursuant to the provisions of Article 26 of the Insurance Code shall

be managed by or under the direction of a board of directors.

B. The board of directors shall consist of five (5) or more

members. The number of directors shall be fixed by or in the manner

provided for in the bylaws. Directors need not be members unless so

required by the certificate of incorporation or the bylaws. The

certificate of incorporation or bylaws may prescribe other

qualifications for directors. Each director shall hold office until

expiration of his term of office, or until his earlier resignation

or removal. Any director may resign at any time upon written notice

to the corporation. A majority of the total number of directors

shall constitute a quorum for the transaction of business unless the

certificate of incorporation or the bylaws require a greater number.

Unless the certificate of incorporation provides otherwise, the

bylaws may provide that a number less than a majority shall

constitute a quorum which in no case shall be less than one-third

(1/3) of the total number of directors. The vote of the majority of

the directors present at a meeting at which a quorum is present

shall be the act of the board of directors.

C. The board of directors, by resolution passed by a majority

of the whole board, may designate one or more committees, each

committee to consist of one or more of the directors of the

corporation. The board may designate one or more directors as

alternate members of any committee, who may replace any absent or

disqualified member at any meeting of the committee. The bylaws may

provide that in the absence or disqualification of a member of a

committee, the member or members thereof present at any meeting and

not disqualified from voting, whether or not he or they constitute a

quorum, may unanimously appoint another member of the board of

directors to act at the meeting in the place of any such absent or

disqualified member.

D. A member of the board of directors, or a member of any

committee designated by the board of directors, in the performance

of his duties, shall be fully protected in relying in good faith

Oklahoma Statutes - Title 36. Insurance Page 686

upon the records of the corporation and upon such information,

opinions, reports or statements presented to the corporation by any

of the corporation's officers or employees, or committees of the

board of directors, or by any other person as to matters the member

reasonably believes are within such officer's, employee's,

committee's, or other person's competence and who have been selected

with reasonable care by or on behalf of the corporation.

E. Unless otherwise restricted by the certificate of

incorporation or bylaws:

1. Any action required or permitted to be taken at any meeting

of the board of directors, or of any committee thereof may be taken

without a meeting if all members of the board or committee, as the

case may be, consent thereto in writing, and the writing or writings

are filed with the minutes of proceedings of the board or committee;

2. The board of directors of any corporation organized in

accordance with the provisions of Article 26 of the Insurance Code

periodically may hold its meetings outside of this state;

3. The board of directors shall have the authority to fix the

compensation of directors; and

4. Members of the board of directors of any corporation, or any

committee designated by such board, may participate in a meeting of

such board or committee by means of conference telephone or similar

communications equipment by means of which all persons participating

in the meeting can hear each other, and participation in a meeting

pursuant to the provisions of this subsection shall constitute

presence in person at such meeting.
Okla. Stat. tit. 36, § 36-708 — OK Code / Title 36 / Section 36-708
"Surety insurance" defined
Status: in_force

"Surety insurance" includes:

1. Fidelity insurance, which is insurance guaranteeing the

fidelity of persons holding positions of public or private trust.

2. Insurance guaranteeing the performance of contracts, other

than insurance policies, and guaranteeing and executing bonds,

undertakings and contracts of suretyship.

3. Insurance indemnifying banks, bankers, brokers, financial or

moneyed corporations or associations against loss, resulting from

any cause, of bills of exchange, notes, bonds, securities, evidences

of debt, deeds, mortgages, warehouse receipts or other valuable

papers, documents, money, precious metals and articles made

therefrom, jewelry, watches, necklaces, bracelets, gems, precious

and semiprecious stones, including any loss while the same are being

transported in armored motor vehicles, or by messenger, but not

including any other risks of transportation or navigation; also

insurance against loss or damage to such an insured's premises or to

his furnishings, fixtures, equipment, safes, and vaults therein,

caused by burglary, robbery, theft, vandalism or malicious mischief,

or any attempt thereat.
Okla. Stat. tit. 36, § 36-6948 — OK Code / Title 36 / Section 36-6948
Immunity from liability on part of Insurance Commissioner
Status: in_force

or Insurance Department or its employees or agents.

There shall be no liability on the part of, and no cause of

action shall arise against, the Insurance Commissioner or the

Insurance Department or its employees or agents for any action taken

by them in the performance of their powers and duties under the

Risk-based Capital (RBC) for Health Maintenance Organizations Act of

2003.
Okla. Stat. tit. 36, § 36-2722.1 — OK Code / Title 36 / Section 36-2722.1
Funds
Status: in_force

A. All assets shall be held, invested and disbursed for the use

and benefit of the society and no member or beneficiary shall have

or acquire individual rights therein or become entitled to any

apportionment on the surrender of any part thereof, except as

provided in the benefit contract.

B. A society may create, maintain, invest, disburse and apply

any special fund or funds necessary to carry out any purpose

permitted by the laws of such society.

C. A society may, pursuant to resolution of its supreme

governing body, establish and operate one or more separate accounts

and issue contracts on a variable basis, subject to the provisions

of law regulating life insurers establishing such accounts and

issuing such contracts. To the extent the society deems it

necessary in order to comply with any applicable federal or state

laws, or any rules issued thereunder, the society may adopt special

procedures for the conduct of the business and affairs of a separate

account; may, for persons having beneficial interests therein,

provide special voting and other rights, including, without

limitation, special rights and procedures relating to investment

policy, investment advisory services, selection of a licensed public

accountant or a certified public accountant holding a permit to

practice accounting, and selection of a committee to manage the

business and affairs of the account; and may issue contracts on a

variable basis to which subsections B and D of Section 19 of this

act shall not apply.
Okla. Stat. tit. 36, § 36-6919 — OK Code / Title 36 / Section 36-6919
Examination of affairs, programs, books, and records -
Status: in_force

Payment of expenses.

A. The Insurance Commissioner may make an examination of the

affairs of any health maintenance organization, producers and

providers with whom the organization has contracts, agreements or

other arrangements pursuant to the provisions of Sections 309.1

through 309.7 of this title.

B. The Insurance Commissioner may require a health maintenance

organization to contract for an examination concerning the quality

assurance program of the health maintenance organization and of any

providers with whom the organization has contracts, agreements or

other arrangements as often as is reasonably necessary for the

protection of the interests of the people of this state, but not

less frequently than once every three (3) years.

C. Every health maintenance organization and provider shall

submit its books and records for examination and in every way

facilitate the completion of an examination. For the purpose of an

examination, the Insurance Commissioner may administer oaths to, and

examine the officers and agents of the health maintenance

organization and the principals of the providers concerning their

business.

D. Any health maintenance organization examined shall pay the

proper charges incurred in such examination, including the actual

expense of the Insurance Commissioner or the expenses and

compensation of any authorized representative and the expense and

compensation of assistants and examiners employed therein. All

expenses incurred in such examination shall be verified by affidavit

and a copy shall be filed in the office of the Insurance

Commissioner.

E. In lieu of an examination, the Insurance Commissioner may

accept the report of an examination made by the health maintenance

organization regulatory entity of another state.
Okla. Stat. tit. 36, § 36-2503 — OK Code / Title 36 / Section 36-2503
Certificate of authority to do business - Deposit of
Status: in_force

securities with State Treasurer.

No such corporation, company or association shall commence the

business of insurance until the Insurance Commissioner shall have

certified that it has complied with the provisions of this article,

and is authorized to transact the business of insurance; provided,

however, that every corporation incorporating or reincorporating

under the provisions of this article shall deposit with the

Commissioner securities in which insurance companies are allowed by

law to invest, subject to the approval of the Insurance

Commissioner, a sum not less than Twenty Thousand Dollars

($20,000.00), before it shall commence business. The sum shall be

a part of the insurance fund and an asset of the corporation. The

securities deposited with the Commissioner pursuant to this section

Oklahoma Statutes - Title 36. Insurance Page 677

shall be held in trust as an emergency fund for the benefit and

protection of and as security for the policyholders of such

corporation, their legal representatives and beneficiaries.
Okla. Stat. tit. 36, § 36-2134 — OK Code / Title 36 / Section 36-2134
Reinsurance, mutual insurers
Status: in_force

A. A domestic mutual insurer may accept reinsurance for the

same kinds of insurance and within the same limits as it is

authorized to transact direct unless such reinsurance is prohibited

by its articles of incorporation.

B. A domestic mutual insurer may reinsure all or any part of

its business in force, or all or any part of a major class thereof,

Oklahoma Statutes - Title 36. Insurance Page 655

with another insurer, stock or mutual, by an agreement or

reinsurance treaty. Any reinsurance of all its business or all of a

major class of its business shall be subject to the approval of the

Insurance Commissioner.
Okla. Stat. tit. 36, § 36-107 — OK Code / Title 36 / Section 36-107
"Board" defined
Status: in_force

When used with reference to the administration of the Oklahoma

Insurance Code, "State Insurance Board", "Insurance Board" or

"Board" means the State Board for Property and Casualty Rates

established by Section 331, Article 3, of this Code. For purposes

of the laws of this state and the Oklahoma Insurance Code, the term

“Board” or “any predecessor to the Board” shall have the same

meaning as the term “Insurance Commissioner”.
Okla. Stat. tit. 36, § 36-2691.15 — OK Code / Title 36 / Section 36-2691.15
Tax exemption
Status: in_force

Every corporation doing business pursuant to this article is

hereby declared to be a nonprofit, charitable and benevolent

institution and to be exempt from state, county, district, municipal

and school taxes, including the taxes prescribed by the Oklahoma

Insurance Code, excepting only the fees prescribed by Section 321 of

Title 36 of the Oklahoma Statutes, and taxes on real and tangible

personal property situated within this state.
Okla. Stat. tit. 36, § 36-2616 — OK Code / Title 36 / Section 36-2616
Exemptions
Status: in_force

The provisions of this article apply only to not-for-profit

hospital service and indemnity and medical service and indemnity

Oklahoma Statutes - Title 36. Insurance Page 691

corporations and such corporations shall be governed by this article

to the extent provided herein. Such corporations shall be exempt

from all other provisions of the insurance laws of this state except

that the provisions of Articles 1 (Scope of Title), 3 (Insurance

Department and Insurance Commissioner), 12 (Unfair Practices and

Frauds), 15 (Assets and Liabilities), 16 (Investments), 16A

(Subsidiaries of Insurers), 17 (Administration of Deposits), 18

(Supervision and Conservatorship of Insurers), 19 (Rehabilitation

and Liquidation) and the provisions of Sections 624 through 626 of

this title and 628 through 631 of this title shall apply to such

corporations to the extent that such provisions are not in conflict

with the provisions of this article. No law relating to insurance

hereafter enacted shall apply to such corporations unless they be

expressly designated therein.
Okla. Stat. tit. 36, § 36-671 — OK Code / Title 36 / Section 36-671
Construction and application of act
Status: in_force

A. Notwithstanding any other provision of law, the provisions

of this act shall be the exclusive state law for licensees subject

to the jurisdiction of the Insurance Commissioner for data security,

the investigation of a cybersecurity event, and notification to the

Commissioner.

B. This act shall not be construed to create or imply a private

cause of action for violations of its provisions.
Okla. Stat. tit. 36, § 36-4081 — OK Code / Title 36 / Section 36-4081
Annuities issued before effective date of act
Status: in_force

A charitable gift annuity issued before the effective date of

this act which does not meet the definition of a qualified

charitable gift annuity under this act shall be deemed to be a

qualified charitable gift annuity under this act.
Okla. Stat. tit. 36, § 36-660.4 — OK Code / Title 36 / Section 36-660.4
Reorganization plan — requirements
Status: in_force

A plan of reorganization of a domestic mutual insurer shall

include all of the following:

1. A statement of the reasons for the proposed action;

2. A description of how the plan will be carried out, including

any transaction included within the plan and a description of any

mutual holding company, intermediate stock holding company or other

corporation organized pursuant to the plan;

3. A description of all significant terms of the

reorganization;

4. New or revised intercompany agreements;

5. A description of the overall effect of the plan on policies

issued by the converting mutual insurer. The description must show

that policyholder interests collectively are properly preserved and

protected and that the plan is fair and equitable to the

policyholders;

6. The record date for determining whether a member of the

converting mutual insurer is an eligible member;

7. The proposed effective date of the reorganization or the

manner in which the proposed effective date of the reorganization is

established;

8. The proposed amendments to or restatement of the articles of

incorporation and bylaws of the converting mutual insurer and the

proposed articles of incorporation and bylaws of any mutual holding

company, intermediate stock holding company or other corporation

organized pursuant to the plan;

9. A description of any plans for the initial sale of voting

stock to third parties by the converted stock insurer or any

intermediate stockholding company, or a statement that the converted

stock insurer or intermediate stock holding company has no current

plans for the sale of voting stock;

10. The intention, if any, that a director or officer of the

converting mutual insurer, mutual holding company, intermediate

stock holding company or other corporation organized pursuant to the

plan, within the six-month period following the effective date of

the conversion or reorganization, may purchase or acquire shares of

capital stock or other securities of an issuer to be issued pursuant

to the plan; and

11. A provision that all policies in force on the effective

date of the conversion or reorganization will remain in force under

the terms of those policies and that on the effective date of the

reorganization, any voting rights of the members provided for under

the policies or under this title are extinguished.
Okla. Stat. tit. 36, § 36-951 — OK Code / Title 36 / Section 36-951
Application of act
Status: in_force

This act shall apply to personal insurance and not to commercial

insurance. This act shall apply to personal insurance policies

either written to be effective or renewed on or after nine (9)

months following the effective date of this act.
Okla. Stat. tit. 36, § 36-6904 — OK Code / Title 36 / Section 36-6904
Certification by Insurance Commissioner - Issuance of
Status: in_force

certificate.

A. Upon receipt of an application for issuance of a certificate

of authority, the Insurance Commissioner shall within forty-five

(45) days determine whether the applicant, with respect to health

care services to be furnished, has complied with the provisions of

Section 6907 of this title.

B. The Insurance Commissioner shall, within forty-five (45)

days of determining compliance or deficiency, issue a certificate of

authority to a person filing a completed application upon receipt of

the prescribed fees and upon the Insurance Commissioner's being

satisfied that:

1. The persons responsible for the conduct of the affairs of

the applicant are competent and trustworthy, and possess good

reputations;

2. Any deficiency identified has been corrected and the

Insurance Commissioner has determined that the health maintenance

organization's proposed plan of operation meets the requirements of

Section 6907 of this title;

3. The health maintenance organization will effectively provide

or arrange for the provision of basic health care services on a

prepaid basis, through insurance or otherwise, except to the extent

of reasonable requirements for copayments or deductibles, or both;

and

4. The health maintenance organization is in compliance with

the provisions of Sections 6913 and 6915 of this title.

C. A certificate of authority shall be denied only after the

Insurance Commissioner complies with the requirements of Section

6920 of this act title. No other criteria may be used to deny a

certificate of authority.
Okla. Stat. tit. 36, § 36-624.2 — OK Code / Title 36 / Section 36-624.2
Refund of erroneously paid premium tax – Filing – Demand
Status: in_force

for hearing.

A. Any taxpayer who has paid to the State of Oklahoma, through

error of fact, or computation, or misinterpretation of law, any

premium tax collected by the Oklahoma Insurance Commissioner may, as

hereinafter provided, be refunded the amount of such tax so

erroneously paid, without interest.

B. Any taxpayer who has so paid any such premium tax may,

within three (3) years from the date of payment thereof, file with

the Insurance Commissioner a verified claim for refund of such tax

so erroneously paid. The Insurance Commissioner may accept an

amended premium report or return as a verified claim for refund if

the amended report or return establishes a liability less than the

original report or return previously filed.

C. Said claim so filed with the Insurance Commissioner, except

for an amended report or return, shall specify the name of the

taxpayer, certificate of authority or license number of the

taxpayer, the time when and period for which said premium tax was

paid, the nature and kind of premium tax so paid, the amount of the

premium tax which said taxpayer claimed was erroneously paid, the

grounds upon which a refund is sought, and such other information or

data relative to such payment as may be necessary to an adjustment

thereof by the Insurance Commissioner. It shall be the duty of the

Insurance Commissioner to determine what amount of refund, if any,

is due as soon as practicable, but no later than ninety (90) days

after such claim has been filed, and advise the taxpayer about the

Oklahoma Statutes - Title 36. Insurance Page 142

correctness of the taxpayer's claim, and the claim for refund shall

be approved or denied by written notice to the taxpayer.

D. If the claim for refund is denied, the taxpayer may file a

demand for hearing with the Insurance Commissioner. The demand for

hearing must be filed on or before the thirtieth day after the date

the notice of denial was mailed. If the taxpayer fails to file a

demand for hearing, the claim for refund shall be barred.

E. Upon the taxpayer's timely filing of a demand for hearing,

the Insurance Commissioner shall set a date for hearing upon the

claim for refund which date shall not be later than sixty (60) days

from the date the demand for hearing was mailed. The taxpayer shall

be notified of the time and place of the hearing. The hearing may

be held after the sixty-day period provided by this subsection upon

agreement of the taxpayer.
Okla. Stat. tit. 36, § 36-6131 — OK Code / Title 36 / Section 36-6131
Misquoting requirements of law - Penalty
Status: in_force

Any person who deals with the disposal or burial of deceased

persons who wilfully misquotes requirements of state law regarding

such shall be guilty of a misdemeanor.
Okla. Stat. tit. 36, § 36-3635 — OK Code / Title 36 / Section 36-3635
"Motor vehicle" defined
Status: in_force

The term "motor vehicle" as used in this act means and includes

a self-propelled land motor vehicle designed for use principally

Oklahoma Statutes - Title 36. Insurance Page 807

upon public roads or streets but does not mean or include crawler or

farm-type tractors, farm implements and, if not subject to motor

vehicle registration, any equipment which is designed for use

principally off public roads and streets.
Okla. Stat. tit. 36, § 36-2913 — OK Code / Title 36 / Section 36-2913
Deposit in lieu of bond
Status: in_force

In lieu of such bond, the attorney may maintain on deposit with

the State Treasurer through the office of the Insurance Commissioner

a like amount in cash or in value of securities qualified under this

Code as insurers' investments, and subject to the same conditions as

the bond.
Okla. Stat. tit. 36, § 36-1672 — OK Code / Title 36 / Section 36-1672
Definitions
Status: in_force

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 National Association of Insurance Commissioners

(NAIC);

2. "Control" or "Controlled" has the meaning ascribed in

subsection (c) of Section 1651 of Title 36 of the Oklahoma Statutes;

3. "Controlled Insurer" means a licensed insurer which is

controlled, directly or indirectly, by a producer;

4. "Controlling Producer" means a producer who, directly or

indirectly, controls an insurer;

5. "Licensed Insurer" or "Insurer" means any person, firm,

association or corporation duly licensed to transact a

property/casualty insurance business in this state. The following,

inter alia, are not licensed insurers for the purposes of this act:

a. all risk retention groups as defined in the Superfund

Amendments Reauthorization Act of 1986, Pub. L. No.

99-499,100 Stat. 1613 (1986) and the Risk Retention

Act, 15 U.S.C. Section 3901 et seq. (1982 & Supp.

1986) and Section 6451 et seq. of Title 36 of the

Oklahoma Statutes,

b. all residual market pools and joint underwriting

authorities or associations, and

c. all captive insurers. For the purposes of the

Business Transacted with Producer Controlled Insurer

Act, captive insurers are insurance companies owned by

another organization whose exclusive purpose is to

insure risks of the parent organization and affiliated

companies or, in the case of groups and associations,

insurance organizations owned by the insureds whose

exclusive purpose is to insure risks to member

organizations and/or group members and their

affiliates; and

6. "Producer" means an insurance broker or brokers or any other

person, firm, association or corporation, when, for any

compensation, commission or other thing of value, such person, firm,

association or corporation acts or aids in any manner in soliciting,

negotiating or procuring the making of any insurance contract on

Oklahoma Statutes - Title 36. Insurance Page 495

behalf of an insured other than the person, firm, association or

corporation.
Okla. Stat. tit. 36, § 36-4037 — OK Code / Title 36 / Section 36-4037
Definitions to be delivered to applicant for replacement
Status: in_force

life insurance policy or annuity.

The following definitions shall be on a form prepared by the

insurer and shall be delivered to the applicant for a replacement

life insurance policy or a replacement annuity policy along with the

notice and statement provided for in Sections 4035 and 4036 of the

Life Insurance and Annuity Policyholders Protection Act, Sections

4031 et seq. of this title:

DEFINITIONS

Premiums: Premiums are the payments you make on the

life insurance or annuity contract. They are unlike deposits in a

savings or investment program because if you drop the policy you

might get back less than you paid in.

Cash Surrender Value: This is the amount of money

you can get if you surrender your life insurance policy or annuity.

If there is a policy loan, the cash surrender value is the

difference between the cash value printed in the policy and the loan

value. Not all policies have cash surrender values.

Lapse: A life insurance policy may lapse when you do

not pay the premiums within the grace period. If your policy had a

cash surrender value, the insurer might change your policy to as

much extended term insurance or paid-up insurance as the cash

surrender value will buy. Sometimes the policy lets the insurer

borrow from the cash surrender value to pay the premiums.

Surrender: You surrender a life insurance policy

when you either let it lapse or tell the company you want to drop

it. If a policy has a cash surrender value, you can receive such

value in cash if you return the policy to the company with a written

request.

Place on Extended Term: This means you use your cash

surrender value to change your insurance to term insurance with the

same insurer. In this case, the net death benefit will be the same

Oklahoma Statutes - Title 36. Insurance Page 863

as before but you will only be covered for a specified period of

time.

Borrow Policy Loan Values: If your life insurance

policy has a cash surrender value, you can usually borrow all or

part of said amount from the insurer. Interest will be charged

according to the terms of the policy, and if the loan and unpaid

interest ever exceeds the cash surrender value the policy will be

terminated. If you die, the amount of the loan and any unpaid

interest due will be subtracted from the death benefits.

Evidence of Insurability: This means proof that you

are an acceptable risk. You have to meet the standards of the

insurer regarding age, health, occupation, and such other standards

as the insurer feels necessary to be eligible for coverage.

Incontestable Clause: This says that after one (1)

or two (2) years, according to the provisions of the contract, the

insurer shall not resist a claim because you made a false or

incomplete statement when you applied for the policy. During the

first two (2) years if there are false or incomplete answers on the

application and the insurer discovers them, the insurer can deny a

claim as if the policy has never existed.

Suicide Clause: This says that if you commit suicide

after being insured for less than two (2) years, your beneficiaries

will receive only a refund of the premiums that were paid.

The definitions of incontestable clause and suicide clause shall be

in 12-point type.
Okla. Stat. tit. 36, § 36-3608 — OK Code / Title 36 / Section 36-3608
Application as evidence
Status: in_force

A. No application for the issuance of any life insurance policy

or contract shall be admissible in evidence in any action relative

to such policy or contract, unless a true copy of the application

was attached to or otherwise made a part of the policy when issued.

This provision shall not apply to industrial life insurance

policies.

B. If any policy of life insurance delivered in this state is

reinstated or renewed, and the insured or the beneficiary or

assignee of the policy makes written request to the insurer for a

copy of the application, if any, for such reinstatement or renewal,

the insurer shall, within thirty (30) days after receipt of such

request at its home office or at any of its branch offices, deliver

or mail to the person making such request a copy of such

application. If such copy is not so delivered or mailed after

having been so requested, the insurer shall be precluded from

introducing the application in evidence in any action or proceeding

based upon or involving the policy or its reinstatement or renewal.

In the case of such a request from a beneficiary or assignee, the

time within which the insurer is required to furnish a copy of such

application shall not begin to run until after receipt of evidence

satisfactory to the insurer of the beneficiary's or assignee's

vested interest in the policy or contract.

C. As to kinds of insurance other than life insurance, no

application for insurance signed by or on behalf of the insured

shall be admissible in evidence in any action between the insured

and the insurer arising out of the policy so applied for, if the

insurer has failed, at expiration of thirty (30) days after receipt

by the insurer of written demand therefor by or on behalf of the

insured, to furnish to the insured a copy of such application

reproduced by any legible means.
Okla. Stat. tit. 36, § 36-1626 — OK Code / Title 36 / Section 36-1626
Investments of foreign, alien insurers
Status: in_force

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.

Oklahoma Statutes - Title 36. Insurance Page 440
Okla. Stat. tit. 36, § 36-4805 — OK Code / Title 36 / Section 36-4805
Proofs of loss - Conditions of enforcement of limitation
Status: in_force

of time.

When any insurance policy subject to the provisions of this

article contains a provision that the insured must render a written

sworn proof of loss within sixty (60) days from the date of fire or

loss to the insurer, or the same is required by law to be so

rendered, the insurer cannot assert the failure of insured to so

render such proof of loss in any litigation or court proceeding,

unless the insurer plead and prove that it has furnished the insured

with two blank forms for the execution of proof of loss, that has

printed thereon, in bold-faced type in a conspicuous place, the

warning that a proof of loss must be rendered to the insurer within

sixty (60) days from the date of receipt of the blank forms for

proof of loss by the insured, or by putting such warning in a like

form in a letter of instruction for executing a proof of loss that

will accompany the proof of loss blanks furnished the insured, and

the insurer has further executed and furnished the insured its

written extension of time, giving the insured sixty (60) days from

Oklahoma Statutes - Title 36. Insurance Page 1012

the date such blanks were received by the insured. These

requirements cannot be waived by any agreement between the parties

or otherwise.
Okla. Stat. tit. 36, § 36-2011 — OK Code / Title 36 / Section 36-2011
Proposal to distribute assets of insolvent company -
Status: in_force

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 assets from time to time as such assets become

available to the Oklahoma Property and Casualty Insurance Guaranty

Fund and to any entity or person performing a similar function in

another state. The Oklahoma Property and Casualty Insurance

Guaranty Fund and any entity or person performing a similar function

in other states shall hereinafter be referred to collectively as the

Associations.

B. Such proposal shall at least include provisions for:

1. Reserving amounts for the payment of expenses of

administration and claims falling within priorities higher than that

of the Fund;

2. Disbursement of the assets marshalled to date and subsequent

disbursements of assets as they become available;

3. Equitable allocation of disbursements to each of the

associations entitled thereto;

4. The securing by the receiver from each of the associations

entitled to disbursements of an agreement to return to the receiver

such assets previously disbursed as may be required to pay claims of

secured creditors and claims falling within priorities higher than

that of the Fund in accordance with such priorities. No bond shall

be required of any such association; and

5. A full report to be made by the association to the receiver

accounting for all assets so disbursed to the association on such

assets and any other matter as the court may direct.

C. The receiver's proposal shall provide for disbursements to

the association in amounts estimated at least equal to the claim

payments made or to be made thereby for which such associations

could assert a claim against the receiver, and shall further provide

that if the assets available for disbursement from time to time do

not equal or exceed the amount of such claim payments made or to be

made by the association then disbursements shall be in the amount of

available assets.

D. Notice of such application shall be given to the

associations in and to the Commissioners of Insurance of each of the

states. Any such notice shall be deemed to have been given when

deposited in the United States certified mail, first class postage

prepaid, at least thirty (30) days prior to submission of such

Oklahoma Statutes - Title 36. Insurance Page 585

application to the court. Action on the application may be taken by

the court provided the above required notice has been given, and

provided further that the receiver's proposal complies with

paragraphs 1 and 4 of subsection B of this section.
Okla. Stat. tit. 36, § 36-6831 — OK Code / Title 36 / Section 36-6831
Applicability of confidentiality privilege - Disclosure
Status: in_force

A. The privilege set forth in Section 1 of this act does not

apply:

1. To the extent that it is expressly waived by the company

that prepared or caused to be prepared the insurance compliance

self-evaluative audit document;

2. If the company that prepared or caused to be prepared the

insurance compliance self-evaluative audit document provides the

audit or any audit documents to any witness for the purpose of

testimonial use in the matter in which the privilege is being

asserted; or

3. If the insurance compliance self-evaluative audit document

shows evidence of noncompliance with applicable state or federal

laws, rules, regulations or orders and appropriate efforts to

achieve compliance with such laws, rules, regulations or orders were

not initiated within a reasonable time and pursued with reasonable

diligence upon discovery of noncompliance.

B. In a civil or administrative proceeding, a court of record

may, after an in camera review, require disclosure of material for

which the privilege set forth in Section 1 of this act is asserted,

if the court determines one of the following:

1. The privilege is intentionally asserted in bad faith or for

a fraudulent or any other similar improper purpose; or

2. The material is not subject to the privilege.

Oklahoma Statutes - Title 36. Insurance Page 1375

If the court requires disclosure because of paragraph 1 of this

subsection, the court may impose sanctions as for any other

violation of the rules of discovery.

C. In a criminal proceeding, a court of record may, after an in

camera review, require disclosure of material for which the

privilege described in Section 1 of this act is asserted, if the

court determines one of the following:

1. The privilege is asserted in bad faith or for a fraudulent

or any other similar improper purpose;

2. The material is not subject to the privilege; or

3. The material contains evidence relevant to commission of a

criminal offense, and all three of the following factors are

present:

a. the Insurance Commissioner, district attorney, or

Attorney General has a compelling need for the

information,

b. the information is not otherwise available, and

c. the Insurance Commissioner, district attorney, or

Attorney General is unable to obtain the substantial

equivalent of the information by any other means

without incurring unreasonable cost and delay.
Okla. Stat. tit. 36, § 36-6126 — OK Code / Title 36 / Section 36-6126
Designation of agent
Status: in_force

A. Each organization subject to the Funeral Services Licensing

Act shall designate an agent or agents, either by names of the

individuals or by titles of the offices or positions of the

individuals, who shall be responsible for deposits of funds

collected under contract for prepaid funeral benefits. The

organization shall notify the Insurance Commissioner of the

designation at least ten (10) days prior to becoming subject to this

act, and shall also notify the Insurance Commissioner of any changes

in the designation at least ten (10) days before the change occurs.

B. Any person collecting monies under a contract on behalf of

an organization shall deposit the monies within ten (10) days after

collection pursuant to paragraph 3 of subsection A of Section 6125

of this title. Any person failing to deposit the monies collected

shall be guilty of a misdemeanor and shall be punished by a fine of

not less than One Hundred Dollars ($100.00) nor more than Five

Hundred Dollars ($500.00) or by imprisonment in the county jail for

not less than one (1) month nor more than six (6) months, or by both

such fine and imprisonment.
Okla. Stat. tit. 36, § 36-1508 — OK Code / Title 36 / Section 36-1508
Reserves for accident and health insurance
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 388

For all accident and health policies the insurer shall maintain

an active life reserve which shall place a sound value on its

liabilities under such policies and which shall not be less than the

reserve according to the standards set forth in regulations issued

by the Commissioner and, in no event, less than the pro rata gross

unearned premium reserve for such policies.
Okla. Stat. tit. 36, § 36-1435.11 — OK Code / Title 36 / Section 36-1435.11
Use of assumed name
Status: in_force

An insurance producer doing business under any name other than

the producer's legal name is required to notify the Insurance

Commissioner prior to using the assumed name.
Okla. Stat. tit. 36, § 36-6570.3 — OK Code / Title 36 / Section 36-6570.3
Adverse determinations to be made by physician or
Status: in_force

licensed mental health professional.

A utilization review entity shall ensure that all adverse

determinations are made by a physician or licensed mental health

professional. The physician or licensed mental health professional

shall:

1. Possess a current and valid nonrestricted license in any

United States jurisdiction;

2. Have the appropriate training, knowledge, or expertise to

apply appropriate clinical guidelines to the health care service

being requested; and

3. Make the adverse determination under the clinical direction

of one of the utilization review entity's medical directors who is

responsible for the provision of reviewing health care services to

enrollees of Oklahoma. All such medical directors must be

physicians licensed in any United States jurisdiction.
Okla. Stat. tit. 36, § 36-1102 — OK Code / Title 36 / Section 36-1102
Validity of contracts effectuated by a surplus lines
Status: in_force

insurer.

A contract of insurance effectuated by a surplus lines insurer

in violation of this Code shall be voidable except at the instance

of the insured.
Okla. Stat. tit. 36, § 36-2709.1 — OK Code / Title 36 / Section 36-2709.1
Waiver
Status: in_force

The laws of the society may provide that no subordinate body,

nor any of its subordinate officers or members, shall have the power

or authority to waive any of the provisions of the laws of the

society. Such provision shall be binding on the society and every

member and beneficiary of a member.
Okla. Stat. tit. 36, § 36-2122 — OK Code / Title 36 / Section 36-2122
Dividend to stockholders
Status: in_force

A. A domestic stock insurer shall not pay any ordinary cash

dividend to stockholders except out of that part of its available

surplus funds which is derived from realized net profits on its

business. The restriction shall apply to all extraordinary

dividends, as defined in subsection B of Section 1636 of this title.

B. A stock dividend may be paid out of any available surplus

funds in excess of the aggregate amount of surplus loaned to the

insurer pursuant to Section 2125 of this article.

C. A dividend otherwise proper may be payable out of the

insurer's earned surplus even though its total surplus is then less

than the aggregate of its past contributed surplus resulting from

issuance of its capital stock at a price in excess of the par value

thereof.
Okla. Stat. tit. 36, § 36-1435.33 — OK Code / Title 36 / Section 36-1435.33
Maximum agent’s fees on renewals
Status: in_force

No life insurance company doing business in the State of

Oklahoma shall charge a fee in excess of ten percent (10%) on any

agent's renewals collected by said life insurance company.
Okla. Stat. tit. 36, § 36-608 — OK Code / Title 36 / Section 36-608
Workers' compensation insurance
Status: in_force

A. A casualty insurer shall not be authorized to transact

workers' compensation insurance in this state without first

complying with the applicable provisions of Title 85A of the

Oklahoma Statutes.

B. A claims adjuster for any insurer duly authorized to

transact workers' compensation insurance in Oklahoma shall be

licensed pursuant to the Insurance Adjusters Licensing Act.
Okla. Stat. tit. 36, § 36-1528 — OK Code / Title 36 / Section 36-1528
Confidential departmental hearing
Status: in_force

The insurer shall have the right to an opportunity for a

confidential departmental hearing, on the record, at which the

insurer may challenge any determination or action by the

Commissioner. The insurer shall notify the Commissioner of its

request for a hearing within five (5) days after the notification by

the Commissioner of a decision affecting the insurer's substantial

rights. Upon receipt of the insurer's request for a hearing, the

Commissioner shall set a date for the hearing, which date shall be

no less than five (5) days after the date of the insurer's request.

The Commissioner may deny a request for hearing if the request is

frivolous, or if no factual issues are presented.
Okla. Stat. tit. 36, § 36-4904 — OK Code / Title 36 / Section 36-4904
Bail bond insurers - Financial statement - Reports
Status: in_force

A. Each insurer writing bail bonds in this state shall file in

the Office of the Insurance Commissioner quarterly statements which

shall exhibit the financial condition of the insurer. The

statements shall be in such general form and content as approved by

the National Association of Insurance Commissioners for the kinds of

insurance to be reported, and as supplemented for additional

information as required by the Commissioner. Such statements shall

be subscribed and sworn by the president and secretary and other

Oklahoma Statutes - Title 36. Insurance Page 1015

proper officers of the insurer. The statements shall be filed on or

before the following dates:

1. First quarter statement, which shall include data from

January 1 to March 31, on the last business day in April;

2. Second quarter statement, which shall include data from

April 1 to June 30, on the last business day of July;

3. Third quarter statement, which shall include data from July

1 to September 30, on the last business day of October; and

4. Annual financial statement as described in Section 311 of

this title, which shall serve as fourth quarter statement and which

shall be filed annually on the date specified in Section 311 of this

title, in the office of the Commissioner by each insurer writing

bail bonds.

B. The statements required to be filed pursuant to subsection A

of this section shall contain the loss reserve for bail bonds

written in this state. Loss reserves shall be computed as twenty-

five percent (25%) of the direct written premium of outstanding

liability less monies held by the insurer in trust to pay losses

from bail.

C. Each insurer writing bail bonds in this state shall file

monthly reports based upon the previous month's activity with the

Commissioner and on forms prescribed by the Commissioner within

thirty (30) days after the end of each preceding month, which shall

include the following information and such other information as the

Commissioner deems necessary:

1. Amount of deposit held by the Commissioner with a list of

the securities available and their current valuation;

2. Bail bond premium volume for this state;

3. Administrative action, if any, taken by other states against

the insurer;

4. List of collateral held by the insurer stating the location

of collateral, the corresponding county involved, the case number

and the bondsman soliciting the bond;

5. Loss ratio;

6. Outstanding liability; and

7. A list of agents or bondsmen whose contracts have been

canceled.
Okla. Stat. tit. 36, § 36-2659 — OK Code / Title 36 / Section 36-2659
Investments
Status: in_force

The funds of any such corporation shall be invested only in

securities designated as capital funds investments by subsection A,

Section 1606 of the Oklahoma Insurance Code.
Okla. Stat. tit. 36, § 36-1503 — OK Code / Title 36 / Section 36-1503
Assets not allowed as deductions from liabilities
Status: in_force

In addition to assets impliedly excluded by the provisions of

Section 1501 of this article, the following expressly shall not be

allowed as assets in any determination of the financial condition of

an insurer:

1. Trade names and other like intangible assets, excluding good

will.

2. Advances to officers (other than policy loans) whether

secured or not, and advances to employees, agents and other persons

on personal security only.

3. Stock of such insurer, owned by it, or any equity therein or

loans secured thereby, or any proportionate interest in such stock

acquired or held through the ownership by such insurer of an

interest in another firm, corporation or business unit.

4. Furniture, fixtures, furnishings, safes, vehicles,

libraries, stationery, literature and supplies, except in the case

of title insurers such materials and plants as the insurer is

expressly authorized to invest in under Article 50 (Title Insurers)

of this Code and except, in the case of any insurer, such personal

property as the insurer is permitted to hold pursuant to Article 16

(Investments) of this Code, or which is reasonably necessary for the

maintenance and operation of real estate lawfully acquired and held

by the insurer other than real estate used by it for home office,

branch office and similar purposes.

5. The amount, if any, by which the aggregate book value of

investments as carried in the ledger assets of the insurer exceeds

the aggregate value thereof as determined under this Code.
Okla. Stat. tit. 36, § 36-6208 — OK Code / Title 36 / Section 36-6208
Examination - Exemptions
Status: in_force

A. Each applicant for a license as an adjuster shall, prior to

issuance of said license, personally take and pass, to the

satisfaction of the Commissioner, an examination approved by the

Commissioner as a test of the qualifications and competency of the

applicant.

B. The requirement of an examination shall not apply to the

following:

1. An applicant who is licensed as an adjuster in this state

during the ninety-day period preceding November 1, 1983; or

2. A nonresident applicant who has passed an examination in the

home state of the applicant and who is currently licensed and in

good standing in the applicant’s home state; or

Oklahoma Statutes - Title 36. Insurance Page 1167

3. Any applicant for a license covering the same class or

classes of insurance for which the applicant was licensed in this

state pursuant to a similar license during the twelve-month period

immediately preceding the date of application, unless said previous

license was revoked or suspended, or continuation of the license was

refused by the Commissioner; or

4. An applicant for a resident license who has passed an

examination in the former home state and who is licensed and in good

standing in the former home state at the time the application is

submitted. The applicant shall make application to become a

resident adjuster within ninety (90) days after establishing legal

residence in Oklahoma.
Okla. Stat. tit. 36, § 36-302.1 — OK Code / Title 36 / Section 36-302.1
Insurance Department Oklahoma City office location
Status: in_force

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 to a tract of land located along the Lincoln

Boulevard Corridor owned by the Commissioners of the Land Office of

the State of Oklahoma, as Trustees of the Land Office Trust.

B. The new office location shall be occupied by the Oklahoma

Insurance Department and shall consist of sufficient square footage

to accommodate staff offices, program areas, staff conference areas,

records and computer areas, general storage areas, security

equipment storage areas, main room, reception area and other

necessary areas for operation of the Insurance Department.

C. The Insurance Commissioner is authorized to purchase a

building, for no more than the appraised value, to serve as the new

office location, or in the alternative, the Insurance Commissioner

is authorized to enter into a lease-purchase agreement for the

acquisition of such building with the person or entity that will

develop or build the building. For the purposes of the purchase or

build-out of the new office location, the Insurance Department is

hereby exempted from the requirements under the Public Competitive

Oklahoma Statutes - Title 36. Insurance Page 53

Bidding Act of 1974 provided in Sections 101 through 139 of Title 61

of the Oklahoma Statutes, provided that no funds used for such

purchase or build-out come from the General Revenue Fund, and the

expenditure of all funds is overseen and approved by both the

Oklahoma Insurance Department and the Commissioners of the Land

Office.
Okla. Stat. tit. 36, § 36-1803 — OK Code / Title 36 / Section 36-1803
Duties of Commissioner
Status: in_force

A. The Insurance Commissioner shall, if there is substantial

reason to believe that any insurer is insolvent, or if any insurer's

condition is such as to render the continuance of its business

hazardous to the public or to holders of its policies or

certificates of insurance, or it has exceeded its powers, or it has

failed to comply with the law, or if such insurer gives its consent:

1. Notify the insurer of the Commissioner's determination;

2. Furnish the insurer a written list of requirements to abate

the Commissioner's determination; and

3. If the Commissioner makes a further determination to

supervise, notify the insurer that it is under supervision pursuant

to this article.

B. Such insurer shall comply with the lawful requirements of

the Commissioner and, if placed under supervision, shall have ninety

(90) days from the date of notice within which to comply with the

requirements of the Commissioner unless the Commissioner designates

a lesser or greater period of time or unless the Commissioner

determines at any time during or after the ninety-day period of time

that judicial or administrative proceedings should be initiated to

place such insurer in conservation, rehabilitation or liquidation

proceedings or other delinquency proceedings, pursuant to Articles

18 and 19 of this title. If such insurer does not comply with such

requirements, such supervision may continue until such requirements

are remedied or until the Commissioner approves or completes pursuit

of additional options as provided in the Insurance Code.
Okla. Stat. tit. 36, § 36-6650 — OK Code / Title 36 / Section 36-6650
Short title
Status: in_force

Sections 2 through 13 of this act shall be known and may be

cited as the “Vehicle Protection Product Act”.
Okla. Stat. tit. 36, § 36-310A.1 — OK Code / Title 36 / Section 36-310A.1
Reporting of material acquisitions and disposition of
Status: in_force

assets or material nonrenewals, cancellations or revisions of ceded

reinsurance agreements.

A. Every insurer domiciled in this state shall file a report

with the Insurance Commissioner disclosing material acquisitions and

Oklahoma Statutes - Title 36. Insurance Page 69

dispositions of assets or material nonrenewals, cancellations or

revisions of ceded reinsurance agreements unless the acquisitions

and dispositions of assets or material nonrenewals, cancellations or

revisions of ceded reinsurance agreements have been submitted to the

Commissioner for review, approval or information purposes pursuant

to other provisions of the Oklahoma Insurance Code.

B. The report required in subsection A of this section is due

within fifteen (15) days after the end of the calendar month in

which any of the foregoing transactions occur.

C. One complete copy of the report, including any exhibits or

other attachments, shall be filed with the National Association of

Insurance Commissioners.
Okla. Stat. tit. 36, § 36-6470.35 — OK Code / Title 36 / Section 36-6470.35
Dormant captive insurance company – Certificate of
Status: in_force

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

transactions or insurance policies issued prior to the filing of its

application for a certificate of dormancy under this section.

B. A dormant captive insurance company domiciled in this state

that meets the criteria of subsection A of this section may apply to

the Insurance Commissioner for a certificate of dormancy. The

certificate of dormancy shall be subject to renewal every five (5)

years and shall be forfeited if not renewed within such time.

C. A dormant captive insurance company that has been issued a

certificate of dormancy shall:

1. Possess and thereafter maintain unimpaired, paid-in capital

and surplus of not less than Twenty-five Thousand Dollars

($25,000.00);

2. Submit on or before March 1 of each year to the Insurance

Commissioner a report of its financial condition, verified by an

oath of two of its executive officers, in a form prescribed by the

Insurance Commissioner; and

3. Pay a nonrefundable annual fee of Five Hundred Dollars

($500.00).

D. A dormant captive insurance company shall not be subject to

or liable for the payment of any tax under Section 6470 of this

title for the initial five-year dormancy.

E. A dormant captive insurance company shall apply to the

Insurance Commissioner for approval to surrender its certificate of

dormancy and resume conducting the business of insurance prior to

issuing any insurance policies.

F. A certificate of dormancy shall be revoked if a dormant

captive insurance company no longer meets the criteria of subsection

A of this section.

G. A dormant captive insurance company may be subject to

examination under Section 6470.13 of this title for any year when it

did not qualify as a dormant captive insurance company. The

Oklahoma Statutes - Title 36. Insurance Page 1235

Insurance Commissioner may examine a dormant captive insurance

company pursuant to Section 6470.13 of this title.

H. The Insurance Commissioner may promulgate and adopt rules

and regulations implementing the provisions of this section.
Okla. Stat. tit. 36, § 36-1916 — OK Code / Title 36 / Section 36-1916
Claims of nonresidents against domestic insurers
Status: in_force

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 before the last date fixed for the filing

of claims in the domiciliary delinquency proceedings.

B. Controverted claims belonging to claimants residing in

reciprocal states may either (1) be proved in this state, or (2) if

ancillary proceedings have been commenced in such reciprocal states,

may be proved in those proceedings. In the event a claimant elects

to prove his claim in ancillary proceedings, if notice of the claim

and opportunity to appear and be heard is afforded the domiciliary

receiver of this state as provided in section 1817 of this article

with respect to ancillary proceedings in this state, the final

allowance of such claim by the court in the ancillary state shall be

Oklahoma Statutes - Title 36. Insurance Page 540

accepted in this state as conclusive as to its amount and shall also

be accepted as conclusive as to its priority, if any, against

special deposits or other security located within the ancillary

state.
Okla. Stat. tit. 36, § 36-3644 — OK Code / Title 36 / Section 36-3644
Application of act - Exemptions
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 820

A. The Life, Accident and Health Insurance Policy Language

Simplification Act shall apply to all policies delivered or issued

for delivery in this state by any company on or after the date such

forms must be approved, except:

1. any policy which is a security subject to federal

jurisdiction;

2. any group annuity contract which serves as a funding

mechanism for pension, profit sharing, or deferred compensation

plans;

3. any form used in connection with, as a conversion from, as

an addition to, or in exchange pursuant to a contractual provision

for, a policy delivered or issued for delivery on a form approved or

permitted to be issued prior to January 1, 1990;

4. the renewal of a policy delivered or issued for delivery

prior to January 1, 1990; or

5. any group policy covering a group of one thousand or more

lives at the date of issue, other than a group credit life insurance

policy or a group credit health insurance policy; however, this

shall not exempt any certificate issued pursuant to a group policy

delivered or issued for delivery in this state.

B. Any non-English language policy delivered or issued for

delivery in this state shall be deemed to be in compliance with the

Life, Accident and Health Insurance Policy Language Simplification

Act if the insurer certifies that such policy is translated from an

English language policy which does comply with said act.
Okla. Stat. tit. 36, § 36-1627 — OK Code / Title 36 / Section 36-1627
Investments in loans secured by certain securities
Status: in_force

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 to transact insurance in this state. On the

date made, no such loan shall exceed in amount eighty percent (80%)

of the market value of the collateral pledged.
Okla. Stat. tit. 36, § 36-2910 — OK Code / Title 36 / Section 36-2910
Power of attorney
Status: reserved

A. The rights and powers of the attorney of a reciprocal

insurer shall be as provided in the power of attorney given it by

the subscribers.

B. The power of attorney must set forth:

1. The powers of the attorney;

Oklahoma Statutes - Title 36. Insurance Page 744

2. That the attorney is empowered to accept service of process

on behalf of the insurer and to authorize the Insurance Commissioner

to receive service of process in actions against the insurer upon

contracts exchanged;

3. The general services to be performed by the attorney;

4. The maximum amount to be deducted from advance premiums or

deposits to be paid to the attorney and the general items of expense

in addition to losses, to be paid by the insurer;

5. Except as to nonassessable policies, a provision for a

contingent several liability of each subscriber in a specified

amount which amount shall be not less than one nor more than ten

times the premium or premium deposit stated in the policy.

C. The power of attorney may:

1. Provide for the right of substitution of the attorney and

revocation of the power of attorney and rights thereunder;

2. Impose such restrictions upon the exercise of the power as

are agreed upon by the subscribers;

3. Provide for the exercise of any right reserved to the

subscribers directly or through their advisory committee;

4. Contain other lawful provisions deemed advisable.

D. The terms of any power of attorney or agreement collateral

thereto shall be reasonable and equitable, and no such power or

agreement shall be used or be effective in Oklahoma until approved

by the Insurance Commissioner.
Okla. Stat. tit. 36, § 36-4419 — OK Code / Title 36 / Section 36-4419
Short-term, limited-duration insurance policies –
Status: in_force

Limitations on benefits provided.

A. For the purposes of this section "short-term, limited-

duration insurance" or "STLDI" means individual health insurance

coverage provided pursuant to a contract with an insurer that has an

expiration date specified in the contract that is less than twelve

(12) months after the original effective date of the contract and,

taking into account renewals or extensions, has a duration of no

longer than thirty-six (36) months in total.

B. An STLDI policy shall not be subject to the continuation

provisions of the Health Insurance Portability and Accountability

Act of 1996, and shall be exempt from medical loss ratio

calculations associated with individual accident and health

insurance issued within this state.

C. No STLDI policy shall be deemed to be included under the

definition of group accident and health insurance issued or renewed

inside or outside of this state and covering persons residing in

this state.

D. The benefits provided by an STLDI policy may be limited as

follows:

1. An STLDI policy shall not be required to contain one or more

of the mandated accident and health insurance benefits otherwise

required by Title 36 of the Oklahoma Statutes; and

2. An STLDI policy shall include the definitions of individual

accident and health insurance with respect to major medical benefits

and standard provisions or rights of coverage.

E. An applicant for an STLDI policy shall be provided, at the

time of application and in addition to any notice required by

applicable federal law or regulation, a written notice that one or

more of the benefits mandated by Oklahoma law is not included in the

STLDI policy.

1. The notice shall specify the essential health benefits that

are included in the STLDI policy. For purposes of this subsection,

"essential health benefits" means those benefits set forth in 42

U.S.C., Section 18022(b).

2. The notice shall specifically list the accident and health

insurance benefits otherwise required to be covered by Title 36 of

the Oklahoma Statutes that will not be covered.

3. The insurer shall retain a signed copy of this notice on

file as a part of the original application as evidence that the

insured has acknowledged such notice.

4. Such signed copy may be in original form, electronic file

form or in any other reproducible file form as may be consistent

with the insurer's method of retaining application copies.

F. An STLDI policy may offer various optional combinations of

coverage at additional premiums for each optional benefit offered.

Oklahoma Statutes - Title 36. Insurance Page 963

G. STLDI policies issued in Oklahoma shall be subject to the

filing requirements of Section 4402 of Title 36 of the Oklahoma

Statutes.

H. Any individual insured under an STLDI policy shall be issued

an identification card which clearly indicates that the STLDI policy

is a limited duration policy not subject to Affordable Care Act

requirements.
Okla. Stat. tit. 36, § 36-6470.14 — OK Code / Title 36 / Section 36-6470.14
Suspension or revocation of license
Status: in_force

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. Refusal or failure to submit an annual report, as required

by Section 6470.11 of this title, or any other report or statement

required by law or by lawful order of the Commissioner;

4. Failure to comply with its own charter, bylaws, or other

organizational document;

5. Failure to pay any tax or fee, or submit to examination or

any legal obligation relative to an examination, as required by this

section;

6. Refusal or failure to pay the cost of examination;

7. Use of methods that, although not otherwise specifically

prohibited by law, nevertheless render its operation detrimental or

its condition unsound with respect to the public or to its

policyholders; or

8. Failure otherwise to comply with laws of this state.

B. If the Commissioner finds, upon examination, hearing, or

other evidence, that a captive insurance company has committed any

of the acts specified in subsection A of this section, the

Commissioner may suspend or revoke such license if the Commissioner

considers it in the best interest of the public and the

policyholders of the captive insurance company.

C. In addition to or in lieu of any applicable revocation or

suspension of the license of a captive insurer, the Commissioner may

fine any captive insurer who violates any provision of the Oklahoma

Oklahoma Statutes - Title 36. Insurance Page 1223

Insurance Code a civil penalty of not more than Five Thousand

Dollars ($5,000.00) for each occurrence.
Okla. Stat. tit. 36, § 36-1435.15 — OK Code / Title 36 / Section 36-1435.15
Appointment of producer as agent of insurer - Notice
Status: in_force

of appointment - Discrimination among producers - Penalties.

A. An insurance producer shall not act as an agent of an

insurer unless the insurance producer becomes an appointed agent of

that insurer. An insurance producer who is not acting as an agent

of an insurer is not required to become appointed.

B. To appoint a producer as its agent, the appointing insurer,

or an authorized representative of the insurer, shall file, in a

format approved by the Insurance Commissioner, a notice of

appointment within fifteen (15) days from the date the agent

contract is executed, or the first insurance application is

submitted. For purposes of this section, an "authorized

representative of the insurer" means a person or entity licensed by

the Commissioner pursuant to the laws of this state who is

authorized in writing by the appointing insurer to file appointments

for the appointing insurer. An insurer or authorized representative

of an insurer may also elect to appoint a producer to all or some

insurers within the insurer's holding company system or group by the

filing of a single appointment request.

C. Upon receipt of the notice of appointment, the Insurance

Commissioner shall verify within a reasonable time not to exceed

thirty (30) days that the insurance producer is eligible for

appointment. If the insurance producer is determined to be

ineligible for appointment, the Commissioner shall notify the

insurer and the authorized representative of the insurer within five

(5) days of its determination.

D. An insurer or authorized representative of an insurer shall

pay an appointment fee, in the amount and method of payment set

forth in Section 1435.23 of this title, for each insurance producer

appointed by the insurer for each insurer for which the insurance

producer is appointed.

Oklahoma Statutes - Title 36. Insurance Page 349

E. It shall be unlawful for any insurer to discriminate among

or between the insurance producers it has appointed. Any person or

company convicted of violating the provisions of this section shall

be guilty of a misdemeanor and shall be punished by the imposition

of a fine of not more than Five Hundred Dollars ($500.00) or

imprisonment in the county jail for not less than six (6) months nor

more than one (1) year, or be punished by both fine and

imprisonment.
Okla. Stat. tit. 36, § 36-1250.1 — OK Code / Title 36 / Section 36-1250.1
Short title
Status: in_force

Sections 1250.1 through 1250.16 of this title shall constitute a

part of the Oklahoma Insurance Code and shall be known and may be

cited as the "Unfair Claims Settlement Practices Act".
Okla. Stat. tit. 36, § 36-6956 — OK Code / Title 36 / Section 36-6956
Private or publicly owned nonprofits – Application of
Status: in_force

Health Maintenance Organization Act of 2003 and rules to nonprofits.

Oklahoma Statutes - Title 36. Insurance Page 1430

A nonprofit health maintenance organization corporation may be

privately or publicly owned. All of the requirements of the Health

Maintenance Organization Act of 2003, the risk-based capital for the

Health Maintenance Organization Act of 2003 and any rules

promulgated thereunder shall be applicable to nonprofit health

maintenance organization corporations, except that such corporations

shall use their income and profit to further facilitate the

providing of health care services to the public after paying

expenses of operation and ownership.
Okla. Stat. tit. 36, § 36-6122 — OK Code / Title 36 / Section 36-6122
Exemptions
Status: in_force

Nothing in Sections 6121 through 6135 of this title shall apply

to religious or benevolent organizations, operating in this state as

a burial association; or to the sale of lands or interests therein

Oklahoma Statutes - Title 36. Insurance Page 1138

as grave lots, or grave spaces; burial or interment rights;

delivered or installed crypts, niches or outer enclosures; or to

cemetery merchandise sold pursuant to the provisions of the Cemetery

Merchandise Trust Act.
Okla. Stat. tit. 36, § 36-2906 — OK Code / Title 36 / Section 36-2906
Attorney
Status: in_force

A. "Attorney," as used in this article refers to the attorney-

in-fact of a reciprocal insurer. The attorney may be an individual,

firm, or corporation.

B. The attorney of a foreign or alien reciprocal insurer, which

insurer is duly authorized to transact insurance in this state,

shall not, by virtue of discharge of its duties as such attorney

with respect to the insurer's transactions in this state, be thereby

deemed to be doing business in this state within the meaning of any

laws of this state applying to foreign firms or corporations.
Okla. Stat. tit. 36, § 36-4207 — OK Code / Title 36 / Section 36-4207
Misstatement of age
Status: in_force

There shall be a provision that if it is found that the age of

the individual insured, or the age of any other individual

considered in determining the premium, has been misstated, any

amount payable or benefit accruing under the policy shall be such as

the premium would have purchased at the correct age or ages.
Okla. Stat. tit. 36, § 36-7001 — OK Code / Title 36 / Section 36-7001
Short title - Purpose
Status: in_force

Sections 21 through 23 of this act shall constitute Article 70

of the Oklahoma Insurance Code and shall be known and may be cited

as the “Health Savings Account Act”. The purpose of this act is to

enable citizens of Oklahoma to establish health savings accounts as

permitted by Section 223 of the Internal Revenue Code as added by

Section 1201 of the Medicare Prescription Drug, Improvement, and

Modernization Act of 2003, P.L. 108-173.
Okla. Stat. tit. 36, § 36-6470.28 — OK Code / Title 36 / Section 36-6470.28
Acquisition of control
Status: in_force

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

Oklahoma Statutes - Title 36. Insurance Page 1230

company, sponsored captive insurance company, special purpose

captive insurance company, or industrial insured captive insurance

company formed or licensed under the Oklahoma Captive Insurance

Company Act.
Okla. Stat. tit. 36, § 36-1696 — OK Code / Title 36 / Section 36-1696
Creditors of protected cells – Obligation of protected
Status: in_force

cell company.

A. 1. Protected cell assets shall only be available to the

creditors of the protected cell company that are creditors in

respect to that protected cell and shall be entitled, in conformity

with the provisions of the Protected Cell Companies Act, to have

recourse to the protected cell assets attributable to that protected

cell, and shall be absolutely protected from the creditors of the

protected cell company that are not creditors in respect of that

protected cell and, who accordingly, shall not be entitled to have

recourse to the protected cell assets attributable to that protected

cell. Creditors, with respect to a protected cell, shall not be

entitled to have recourse against the protected cell assets of other

protected cells or the assets of the protected cell company's

general account.

2. Protected cell assets shall only be available to creditors

of a protected cell company after all protected cell liabilities

have been extinguished or provided for in accordance with the plan

of operation relating to that protected cell.

B. When an obligation of a protected cell company to a person

arises from a transaction, or is imposed, with respect to a

protected cell:

1. That obligation of the protected cell company shall extend

only to the protected cell assets attributable to that protected

cell, and the person shall, with respect to that obligation, be

entitled to have recourse only to the protected cell assets

attributable to that protected cell; and

2. That obligation of the company shall not extend to the

protected cell assets of any other protected cell or the assets of

the protected cell company's general account, and that person shall

not, with respect to that obligation, be entitled to have recourse

to the protected cell assets of any other protected cell or the

assets of the protected cell company's general account.

C. When an obligation of a protected cell company relates

solely to the general account, the obligation of the protected cell

company shall extend only to, and that creditor shall, with respect

to that obligation, be entitled to have recourse only to, the assets

of the protected cell company's general account.

D. Other than with regard to the application of this section,

the activities, assets and obligations relating to a protected cell

are not subject to the provisions of Articles 20A and 20B of Title

36 of the Oklahoma Statutes. Neither a protected cell nor a

protected cell company shall be assessed by or be required to

Oklahoma Statutes - Title 36. Insurance Page 519

contribute to any guaranty fund or guaranty association in this

state with respect to the activities, assets or obligations of a

protected cell. Nothing in this section shall affect the activities

or obligations of an insurer's general account.

E. In no event shall the establishment of one or more protected

cells alone constitute or be deemed to be a fraudulent conveyance,

an intent by the protected cell company to defraud creditors, or the

carrying out of business by the protected cell company for any other

fraudulent purpose.
Okla. Stat. tit. 36, § 36-2704.1 — OK Code / Title 36 / Section 36-2704.1
Definitions
Status: in_force

As used in this article:

1. "Benefit contract" means the agreement for provision of

benefits authorized by Section 16 of this act, as that agreement is

described in subsection A of Section 19 of this act;

2. "Benefit member" means an adult member who is designated by

the laws or rules of the society to be a benefit member under a

benefit contract;

3. "Certificate" means the document issued as written evidence

of the benefit contract;

4. "Laws" means the society's articles of incorporation,

constitution and bylaws, however designated;

5. "Lodge" means subordinate member units of the society, known

as camps, courts, councils, branches or by any other designation;

Oklahoma Statutes - Title 36. Insurance Page 713

6. "Premiums" means premiums, rates, dues or other required

contributions by whatever name known, which are payable under the

certificate;

7. "Rules" means all rules, regulations or resolutions adopted

by the supreme governing body or board of directors which are

intended to have general application to the members of the society;

and

8. "Society" means fraternal benefit society, unless otherwise

indicated.
Okla. Stat. tit. 36, § 36-4426.2 — OK Code / Title 36 / Section 36-4426.2
Nonforfeiture benefits
Status: in_force

A. 1. No insurer may offer a long-term care insurance policy

unless the insurer also offers to the applicant the option to

purchase a policy that provides for nonforfeiture benefits.

2. This section shall not apply to life insurance policies or

riders containing accelerated long-term care benefits.

3. For certificates issued on or after the effective date of

this act, under a group long-term care insurance policy as defined

in Section 4424 of Title 36 of the Oklahoma Statutes, which policy

was in force at the time this act became effective, the provisions

of this section shall not apply.

B. The Insurance Commissioner shall promulgate rules which are

consistent with the National Association of Insurance Commissioners

(NAIC) Long-Term Care Model Regulation and which specify the types

of nonforfeiture benefits to be included in policies and

certificates, the standards for the benefits, and the date

nonforfeiture benefits must commence.

Oklahoma Statutes - Title 36. Insurance Page 974

C. 1. For purposes of this section, the nonforfeiture benefit

shall be a shortened benefit period providing paid-up long-term care

insurance coverage after lapse. The same benefit amounts and

frequency in effect at the time of lapse, but not increased

thereafter, shall be payable for a qualifying claim, but the

lifetime maximum dollars or days of benefits shall be determined as

specified in paragraph 3 of this subsection.

2. Nonforfeiture benefits for qualified long-term care

insurance contracts shall include at least a reduced paid-up

insurance benefit, an extended term insurance benefit, the offer of

a shortened benefit period, or other similar offerings approved by

the Insurance Commissioner, and shall be provided as specified in

regulations. The issuer of such a contract may refund premiums upon

the death of the insured or upon complete surrender or cancellation

of the contract or policy, as long as the refund does not exceed the

aggregate premiums paid for the contract or policy.

3. The standard nonforfeiture credit shall be equal to one

hundred percent (100%) of the sum of all premiums paid, including

the premiums paid prior to any changes in benefits. The insurer may

offer additional shortened benefit period options, as long as the

benefits for each duration equal or exceed the standard

nonforfeiture credit for that duration. However for lapses

occurring at the end of the third policy year and thereafter, the

minimum nonforfeiture credit shall not be less than thirty (30)

times the daily nursing home benefit at the time of lapse. In

either event, the calculation of the nonforfeiture credit is subject

to the limitation set forth in subsection D of this section.

4. Nonforfeiture credits may be used for all care and services

qualifying for benefits under the terms of the policy or

certificate, up to the limits specified in the policy or

certificate.

5. There shall be no difference in the minimum nonforfeiture

benefits as required under this section for group and individual

policies.

D. All benefits paid by the insurer while the policy or

certificate is in premium paying status and in paid-up status shall

not exceed the maximum benefits which would have been payable if the

policy or certificate had remained in premium paying status.
Okla. Stat. tit. 36, § 36-7111 — OK Code / Title 36 / Section 36-7111
Fraudulent or intentional failure to honor contract
Status: in_force

It shall be unlawful for any owner or operator of a cemetery to

accept money or anything of value under a contract entered into

pursuant to the Perpetual Care Fund Act and fraudulently or

intentionally fail or refuse to honor the contract providing for the

improving, caring for, and embellishing of the burial lots, walks,

drives, parks and other improvements in the cemetery.

In addition to other penalties authorized by law, this

fraudulent or intentional failure or refusal to honor the contract

Oklahoma Statutes - Title 36. Insurance Page 1487

with the consumer shall be a violation of the Oklahoma Consumer

Protection Act pursuant to Sections 751 through 764.1 of Title 15 of

the Oklahoma Statutes.
Okla. Stat. tit. 36, § 36-2652 — OK Code / Title 36 / Section 36-2652
Application for certificate - Contents - Fee
Status: in_force

Such a corporation may issue contracts to its subscribers only

when the Insurance Commissioner has, by certificate of authority,

authorized it so to do. Application for such certificate of

authority shall be made on forms supplied or approved by the

Commissioner, containing such information as he shall deem

necessary. Each application for such certificate of authority shall

be accompanied by the fee prescribed by Section 321 of the Oklahoma

Insurance Code, and copies of the following documents:

1. Articles of Incorporation signed by not less than fifty

optometrists licensed to practice in Oklahoma;

2. Bylaws;

3. Proposed contracts, if any, between the applicant and

participating optometrists, showing the terms under which service is

to be furnished to subscribers;

4. Proposed contracts to be issued to subscribers;

5. A table of rates to be charged to subscribers;

6. Financial statement of the corporation, including the

amounts of contributions paid or agreed to be paid to the

corporation for working capital and the name or names of each

contributor and the terms of each contribution; and

7. A statement of the area in which the corporation proposes to

operate.
Okla. Stat. tit. 36, § 36-1201 — OK Code / Title 36 / Section 36-1201
Declaration of purpose
Status: in_force

The purpose of this article is to regulate trade practices in

the business of insurance in accordance with the intent of Congress

as expressed in the Act of Congress of March 9, 1945 (Public Law 15,

79th Congress), by defining, or providing for the determination of,

all such practices in this state which constitute unfair methods of

competition or unfair or deceptive acts or practices and by

prohibiting the trade practices so defined or determined.
Okla. Stat. tit. 36, § 36-610 — OK Code / Title 36 / Section 36-610
Capital funds or minimum surplus required
Status: in_force

A. To qualify for authority to incorporate an insurance company

or to transact any one or more kinds of insurance an insurer shall

possess and maintain, after the effective date of this act, surplus

in regard to policyholders, which is defined as the aggregate of the

capital and surplus, in an amount not less than One Million Five

Hundred Thousand Dollars ($1,500,000.00).

B. Any domestic insurer lawfully authorized to transact the

business of insurance in Oklahoma immediately prior to the effective

date of this act shall not be required to increase its capital or

surplus to meet increased requirements of this act, provided,

however, that in no event shall such insurer reduce its capital or

surplus below the figure required of such insurer on October 31,

2002.

C. Wherever the language paid-in capital, capital, capital

stock or a similar term (if a stock company) or surplus, expendable

surplus or a similar term (if a mutual or reciprocal insurer) is

used elsewhere in this code, the term surplus in regard to

policyholders may be used interchangeably when applicable.
Okla. Stat. tit. 36, § 36-4508 — OK Code / Title 36 / Section 36-4508
Selection of licensed psychologist or licensed and
Status: in_force

certified clinical social worker - Definitions.

A. If the terms of any group or blanket accident and health

insurance policy cover services within the lawful scope of practice

of a licensed psychologist or licensed and certified clinical social

worker then:

1. Such services may be performed by any person licensed to do

so in this state as provided in subsection B of this section.

2. Selection of such a psychologist or social worker may be

made by the insured at his option and, provided other conditions of

the policy are met, reimbursement shall not be denied when service

is rendered by a person so licensed.

Oklahoma Statutes - Title 36. Insurance Page 986

3. The provisions of this section shall apply to the policies

and contracts of insurance issued thereunder which are delivered,

amended, ratified, or issued for delivery in Oklahoma, after October

1, 1982.

4. Any provision, exclusion, or limitation of a policy that

denies an insured the privilege of selecting such a psychologist or

social worker shall, to the extent of the denial, be void, but such

void provision shall not affect the validity of the other provisions

of the policy.

B. For purposes of this section:

1. "Licensed psychologist" means a person licensed and

complying with the Psychologists Licensing Act, Sections 1351

through 1375 of Title 59 of the Oklahoma Statutes; and

2. "Licensed and certified social worker" means a person

licensed and complying with the Social Workers' Licensing Act,

Sections 1250.1 (3) and 1261.1 (B) of Title 59 of the Oklahoma

Statutes.
Okla. Stat. tit. 36, § 36-6837 — OK Code / Title 36 / Section 36-6837
Effect upon statutory or common law privileges
Status: in_force

Nothing in this act nor the release of any self-evaluative audit

document hereunder shall limit, waive, or abrogate the scope or

nature of any statutory or common law privilege including, but not

limited to, the work product doctrine, the attorney-client

privilege, or the subsequent remedial measures exclusion.
Okla. Stat. tit. 36, § 36-2023 — OK Code / Title 36 / Section 36-2023
Creation - Membership - Administration - Supervision
Status: in_force

A. There is created a nonprofit legal entity to be known as the

Oklahoma Life and Health Insurance Guaranty Association. All member

insurers shall be and remain members of the Association as a

condition of their authority to transact insurance or health

maintenance organization business in this state.

B. The Association shall perform its functions under a plan of

operation established and approved in accordance with this act and

shall exercise its powers through the Board of Directors established

in this act. For purposes of administration and assessment, the

Association shall maintain three accounts:

1. The health account;

2. The life insurance account; and

3. The annuity account.

C. The Association shall come under the immediate supervision

of the Insurance Commissioner and shall be subject to the applicable

provisions of the insurance laws of this state.
Okla. Stat. tit. 36, § 36-6555 — OK Code / Title 36 / Section 36-6555
Rules - Forms - Issuance of certificate - Reporting
Status: in_force

requirements - Confidentiality.

A. The Insurance Commissioner may promulgate and adopt rules to

implement the provisions of this section.

B. The Commissioner shall develop standardized forms for

registration, performing and implementing certification requirements

pursuant to the Hospital and Medical Services Utilization Review

Act.

C. The Commissioner shall issue a certificate to an applicant

that has met all the requirements of the Hospital and Medical

Services Utilization Review Act and applicable rules.

D. The Commissioner may establish reporting requirements to:

1. Evaluate, based upon the information furnished pursuant to

the provisions of this act, the effectiveness of private review

agents; and

2. Determine if the utilization review programs are in

compliance with the provisions of the Hospital and Medical Services

Utilization Review Act and applicable rules.

E. Any information required by the Commissioner with respect to

customers, patients or utilization review procedures of a private

review agent shall be held in confidence and shall not be disclosed

to the public. However, a patient or a person with financial

responsibility for a patient's bill shall be entitled to information

and documents relating to them and their claim.

F. A certificate issued pursuant to the Hospital and Medical

Services Utilization Review Act is not transferable.

G. No individual conducting utilization review shall be

required to be certified if such utilization review is performed

within the scope of such person's employment with an entity already

certified pursuant to the Hospital and Medical Services Review Act.

Oklahoma Statutes - Title 36. Insurance Page 1301
Okla. Stat. tit. 36, § 36-6135 — OK Code / Title 36 / Section 36-6135
Insurance Code not affected
Status: in_force

Nothing in this act shall alter or affect any provision of the

Insurance Code of the State of Oklahoma.
Okla. Stat. tit. 36, § 36-5006 — OK Code / Title 36 / Section 36-5006
Examination of title insurance company
Status: in_force

The Insurance Commissioner is authorized to conduct an

examination of any title insurance company pursuant to the

provisions of Section 309.1 et seq. of Title 36 of the Oklahoma

Statutes and may employ an examiner for such purposes.
Okla. Stat. tit. 36, § 36-650 — OK Code / Title 36 / Section 36-650
Competition with Nine-One-One system prohibited
Status: in_force

Insurers, nonprofit health service plans, and health maintenance

organizations shall not establish or promote an emergency medical

response, triage, or transportation system in competition with or in

substitution of the Nine-One-One system. Insurers, nonprofit health

service plans, and health maintenance organizations shall not use

false or misleading language to discourage or prohibit access to the

Nine-One-One system.
Okla. Stat. tit. 36, § 36-2691.8 — OK Code / Title 36 / Section 36-2691.8
Directors
Status: in_force

The directors of a chiropractic service corporation shall at all

times include representatives of:

1. Chiropractors licensed to practice in this state; and

2. The general public.
Okla. Stat. tit. 36, § 36-6752 — OK Code / Title 36 / Section 36-6752
Definitions
Status: in_force

As used in the Oklahoma Home Service Contract Act:

1. “Administrator” means the person who is responsible for the

administration of home service contracts or the home service

contracts plan, who may promote the contract under their own private

label or brand as long as the provider is clearly identified on the

contract, or who is responsible for any submission required by the

Oklahoma Home Service Contract Act;

2. “Commissioner” means the Insurance Commissioner;

3. “Consumer” means a natural person who buys other than for

purposes of resale any tangible personal property that is

distributed in commerce and that is normally used for personal,

family or household purposes and not for business or research

purposes;

Oklahoma Statutes - Title 36. Insurance Page 1356

4. “Maintenance agreement” means a contract of limited duration

that provides for scheduled maintenance only and does not include

repair or replacement;

5. “Person” means an individual, partnership, corporation,

incorporated or unincorporated association, joint stock company,

reciprocal, syndicate or any similar entity or combination of

entities acting in concert;

6. “Provider” means the person who is the contractually named

obligor to the home service contract holder under the terms of the

service contract;

7. “Provider fee” means the consideration paid for a home

service contract;

8. “Reimbursement insurance policy” means a policy of insurance

issued to a provider to either provide reimbursement to the provider

under the terms of the insured home service contracts issued or sold

by the provider or, in the event of the provider’s nonperformance,

to pay on behalf of the provider all covered contractual obligations

incurred by the provider under the terms of the insured home service

contracts issued or sold by the provider;

9. “Home service contract” or “home warranty” means a contract

or agreement for a separately stated consideration for a specific

duration to perform the service, repair, replacement or maintenance

of property or indemnification for service, repair, replacement or

maintenance, for the operational or structural failure of any

residential property due to a defect in materials, workmanship,

inherent defect or normal wear and tear, with or without additional

provisions for incidental payment or indemnity under limited

circumstances. Home service contracts may provide for the service,

repair, replacement, or maintenance of property for damage resulting

from power surges or interruption and accidental damage from

handling and may provide for leak or repair coverage to house

roofing systems. Home service contracts and home warranties are not

insurance in this state or otherwise regulated under the Insurance

Code;

10. “Service contract holder” or “contract holder” means a

person who is the purchaser or holder of a home service contract;

and

11. “Warranty” means a warranty made solely by the

manufacturer, importer or seller of property or services including

builders on new home construction, without consideration, that is

not negotiated or separated from the sale of the product and is

incidental to the sale of the product, that guarantees indemnity for

defective parts, mechanical or electrical breakdown, labor or other

remedial measures, such as repair or replacement of the property or

repetition of services.
Okla. Stat. tit. 36, § 36-2691.2 — OK Code / Title 36 / Section 36-2691.2
Application for certificate; contents; fee
Status: in_force

A chiropractic service corporation may issue contracts to its

subscribers only when the Insurance Commissioner has, by certificate

of authority, authorized it to do so. Application for such

certificate of authority shall be made on forms supplied or approved

by the Commissioner, containing such information as he shall deem

necessary. Each application for such certificate of authority shall

be accompanied by the fee prescribed by Article 3 of Title 36 of the

Oklahoma Statutes, and copies of the following documents:

1. Articles of Incorporation;

2. Bylaws;

3. Proposed contracts to be issued to subscribers;

4. Financial statement of the corporation, including the

amounts of contributions paid; and

5. A statement of the area in which the corporation proposes to

operate.
Okla. Stat. tit. 36, § 36-4075 — OK Code / Title 36 / Section 36-4075
Statement of nonregulation
Status: in_force

In its promotional literature, applications and agreements for

qualified charitable gift annuities, the qualified charitable

organization shall insert the following separate paragraph in print

no smaller than that employed in the document generally:

"A charitable gift annuity is not regulated by the Oklahoma

Insurance Department and is not protected by a guaranty association

affiliated with the Oklahoma Insurance Department."
Okla. Stat. tit. 36, § 36-2113 — OK Code / Title 36 / Section 36-2113
Bylaws of mutual
Status: in_force

A. The initial board of directors of a domestic mutual insurer

shall adopt original bylaws for the government of the corporation

and conduct of its business. Such bylaws shall be subject to the

approval of the insurer's members at the next succeeding annual

meeting of members, and no bylaw provision shall thereafter be

effective which is not so approved. Bylaws shall be revoked or

modified only by two-thirds (2/3) favorable vote of the insurer's

Oklahoma Statutes - Title 36. Insurance Page 629

members voting either in person or by proxy at a meeting of which

notice was given as provided in the bylaws.

B. The bylaws shall provide that each member of the insurer is

entitled to one vote in the election of corporate directors and on

all matters coming before membership meetings, and that such vote

may be exercised in person or by proxy.

C. The insurer shall promptly file with the Commissioner a

copy, certified by the insurer's secretary, of such bylaws and of

every modification thereof or of addition thereto. The Commissioner

shall disapprove any bylaw provision deemed by him to be unlawful.

The insurer shall not, after receiving written notice of such

disapproval and during the existence thereof, effectuate any bylaw

provision so disapproved; provided, however, such disapproval shall

constitute an order from which an appeal will lie, and such appeal

may be perfected in such manner as is provided by this Code.
Okla. Stat. tit. 36, § 36-1621 — OK Code / Title 36 / Section 36-1621
Foreign securities
Status: in_force

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 that such companies are required by law or

permitted by law to invest in that state.
Okla. Stat. tit. 36, § 36-6465 — OK Code / Title 36 / Section 36-6465
Fees
Status: in_force

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 state.

Purchasing groups shall pay annually at the time of

registration, a fee of Four Hundred Dollars ($400.00).
Okla. Stat. tit. 36, § 36-6719 — OK Code / Title 36 / Section 36-6719
Promulgation of rules
Status: in_force

The Insurance Commissioner may promulgate rules to implement the

provisions of this act.
Okla. Stat. tit. 36, § 36-4203 — OK Code / Title 36 / Section 36-4203
Required provisions
Status: in_force

No policy of industrial life insurance shall be delivered or be

issued for delivery in this state unless it contains in substance

the applicable provisions set forth in sections 4204 to 4216,

inclusive, of this article.
Okla. Stat. tit. 36, § 36-1435.17 — OK Code / Title 36 / Section 36-1435.17
Waiver of requirements for nonresident producers –
Status: in_force

Reciprocity – Continuing education requirements.

A. The Insurance Commissioner shall waive any requirements for

a nonresident producer license applicant with a valid license from

the applicant’s home state, except the requirements imposed by

Section 9 of this act, if the applicant’s home state awards

nonresident licenses to residents of this state on the same basis.

B. A nonresident producer’s satisfaction of the producer’s home

state’s continuing education requirements for licensed insurance

producers shall constitute satisfaction of this state’s continuing

education requirements if the nonresident producer’s home state

recognizes the satisfaction of its continuing education requirements

imposed upon producers from this state on the same basis.
Okla. Stat. tit. 36, § 36-964 — OK Code / Title 36 / Section 36-964
Applicability date
Status: in_force

This act shall only apply to new insurance policies written, or

existing policies renewed, on or after April 1, 2018.

Oklahoma Statutes - Title 36. Insurance Page 223
Okla. Stat. tit. 36, § 36-7124 — OK Code / Title 36 / Section 36-7124
Administration of act – Appeals – Exemption for prepaid
Status: in_force

plans.

A. The Cemetery Merchandise Trust Act, Sections 7121 through

7135 of this title, shall be administered by the Insurance

Commissioner. The Commissioner is authorized to promulgate

reasonable rules concerning the keeping and inspection of records,

the filing of contracts and reports, investments of and handling of

the trust funds, and all other matters concerning the orderly

administration and implementation of the Cemetery Merchandise Trust

Act. All prepaid cemetery merchandise contracts shall be in

writing, and no contract form created after July 1, 2010, shall be

used without first being submitted to, and approved by, the

Commissioner.

B. An organization aggrieved by an action or order of the

Commissioner may appeal the action or order to the Oklahoma

Insurance Department in accordance with Article II of the

Administrative Procedures Act.

C. The provisions of the Cemetery Merchandise Trust Act shall

not be applicable to any organization that has obtained a permit

pursuant to Section 6121 of this title if the organization is in

compliance with the provisions of Sections 6121 through 6136.18 of

this title with respect to items that are considered cemetery

merchandise pursuant to the Cemetery Merchandise Trust Act.

Oklahoma Statutes - Title 36. Insurance Page 1490

D. Unless sold pursuant to a permit issued under Section 6121

of this title, no organization in Oklahoma may sell, in advance of

actual need, the services of opening or closing a burial space, as

defined in Section 7102 of this title, unless the organization

deposits in trust no less than sixty-five percent (65%) of the

principal amount of the services sold, or maintains a surety bond

for the full principal amount of the services sold. Any contracts

for services sold before July 1, 2010, remain enforceable by the

purchaser against the seller.
Okla. Stat. tit. 36, § 36-959 — OK Code / Title 36 / Section 36-959
Sale of data or lists by consumer reporting agencies
Status: in_force

A. No consumer reporting agency shall provide or sell data or

lists that include any information that in whole or in part was

submitted in conjunction with an insurance inquiry about a

consumer’s credit information or a request for a credit report or

insurance score. Such information includes, but is not limited to,

the expiration dates of an insurance policy or any other information

that may identify time periods during which a consumer’s insurance

may expire and the terms and conditions of the consumer’s insurance

coverage.

B. The restrictions provided in subsection A of this section do

not apply to data or lists the consumer reporting agency supplies to

the insurance agent from whom information was received, the insurer

Oklahoma Statutes - Title 36. Insurance Page 219

on whose behalf such agent acted, or such insurer’s affiliates or

holding companies.

C. Nothing in this section shall be construed to restrict any

insurer from being able to obtain a claims history report or a motor

vehicle report.
Okla. Stat. tit. 36, § 36-5112 — OK Code / Title 36 / Section 36-5112
Rules and regulations
Status: in_force

The Commissioner may promulgate and adopt reasonable rules and

regulations for the implementation and administration of the

provisions of the Reinsurance Intermediary Act.
Okla. Stat. tit. 36, § 36-3202 — OK Code / Title 36 / Section 36-3202
Definitions
Status: in_force

As used in the Oklahoma Child Health Insurance Reform Act:

1. "Child health supervision services" means the periodic

review of a child's physical and emotional status by a physician or

other primary health care provider or pursuant to a physician's

supervision;

2. "Review" shall include but not be limited to a history,

complete physical examination, developmental assessment,

anticipatory guidance, appropriate immunizations and laboratory

tests in keeping with prevailing medical standards;

3. "Health care insurer" means any entity that provides health

insurance in this state. For the purposes of the Oklahoma Child

Health Insurance Reform Act, insurer includes but is not limited to

a licensed insurance company, not-for-profit hospital service or

medical indemnity corporation, a fraternal benefit society, a health

maintenance organization, a prepaid health plan, a multiple employer

welfare arrangement or any other entity providing a plan of health

insurance or health benefits subject to state regulation; and

4. "Health benefit plan" means any group hospital or medical

policy or certificate, contract of insurance provided by a not-for-

profit hospital service or medical indemnity plan, prepaid health

plan, or health maintenance organization subscriber contract.

Health benefit plan does not include accident-only, credit, dental,

vision, Medicare supplement, long-term care, specified disease,

hospital indemnity, or disability income insurance, coverage issued

as a supplement to liability insurance, workers' compensation or

similar insurance, any plan, or automobile medical payment

insurance.
Okla. Stat. tit. 36, § 36-6751 — OK Code / Title 36 / Section 36-6751
Purpose - Exemptions
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 1355

A. The purpose of the Oklahoma Home Service Contract Act is to

create an independent legal framework within which home service

contracts and home warranties are defined, may be sold and are

regulated in this state. The Oklahoma Home Service Contract Act

declares that home service contracts and home warranties, as defined

in Section 6752 of this title, are not insurance and not otherwise

subject to the Insurance Code. The Oklahoma Home Service Contract

Act requires simple registration, financial assurance options and

enforcement by the Insurance Commissioner. Proper registration

under the Oklahoma Home Service Contract Act exempts applicability

under the Service Warranty Act, which may regulate extended

warranty, retail, automobile and agreements not defined in the

Oklahoma Home Service Contract Act. Nothing in the Service Warranty

Act is changed or amended by the Oklahoma Home Service Contract Act.

B. The following items are exempt from the provisions of the

Oklahoma Home Service Contract Act:

1. Warranties as defined in Section 6752 of this title;

2. Maintenance agreements as defined in Section 6752 of this

title; and

3. Service contracts sold or offered for sale to persons other

than consumers, consumer product (extended warranty) service

contracts on new retail goods if made at the time of sale and motor

vehicle service contracts, all of which may be separately regulated

elsewhere in the Oklahoma Statutes.

C. The types of agreements covered by the Oklahoma Home Service

Contract Act are not insurance and do not have to comply with any

other provision of the Insurance Code outside of the Oklahoma Home

Service Contract Act.
Okla. Stat. tit. 36, § 36-3629 — OK Code / Title 36 / Section 36-3629
Forms of proof of loss – Offer of settlement or rejection
Status: in_force

of claim.

A. An insurer shall furnish, upon written request of any

insured claiming to have a loss under an insurance contract issued

by such insurer, forms of proof of loss for completion by such

person, but such insurer shall not, by reason of the requirement so

to furnish forms, have any responsibility for or with reference to

the completion of such proof or the manner of any such completion or

attempted completion.

B. It shall be the duty of the insurer, receiving a proof of

loss, to submit a written offer of settlement or rejection of the

claim to the insured within sixty (60) days of receipt of that proof

of loss. Upon a judgment rendered to either party, costs and

attorney fees shall be allowable to the prevailing party. For

purposes of this section, the prevailing party is the insurer in

those cases where judgment does not exceed written offer of

settlement. In all other judgments the insured shall be the

prevailing party. If the insured is the prevailing party, the court

in rendering judgment shall add interest on the verdict at the rate

of fifteen percent (15%) per year from the date the loss was payable

pursuant to the provisions of the contract to the date of the

verdict. This provision shall not apply to uninsured motorist

coverage.
Okla. Stat. tit. 36, § 36-2201 — OK Code / Title 36 / Section 36-2201
Short title
Status: in_force

Sections 58 through 66 of this act shall be known and may be

cited as the “Oklahoma Medical Professional Liability Trusts Act”.
Okla. Stat. tit. 36, § 36-1523 — OK Code / Title 36 / Section 36-1523
Annual risk-based capital report - Factors - Adjustment
Status: in_force

of inaccurate reports.

A. Every domestic insurer shall, on or prior to each March 1,

which shall be known as the filing date, prepare and submit to the

Insurance Commissioner a report of its RBC Levels as of the end of

the calendar year just ended, in a form and containing such

information as is required by the RBC Instructions, as adopted by

the Commissioner by rule. In addition, every domestic insurer shall

file its RBC Report with the NAIC if required by the Commissioner.

B. 1. A life and health insurer's or fraternal benefit

society's RBC shall be determined in accordance with the formula set

forth in the RBC Instructions, as adopted by the Commissioner by

rule. The formula shall take into account, and may adjust for the

covariance between, the following factors:

a. the risk with respect to the insurer's assets,

b. the risk of adverse insurance experience with respect

to the insurer's liabilities and obligations,

c. the interest rate risk with respect to the insurer's

business, and

d. all other business risks and such other relevant risks

as are set forth in the RBC Instructions.

2. These factors shall be determined in each case by applying

the factors in the manner set forth in the RBC Instructions.

C. 1. A property and casualty insurer's RBC shall be

determined in accordance with the formula set forth in the RBC

Instructions, as adopted by the Commissioner by rule. The formula

shall take into account, and may adjust for the covariance between,

the following factors:

a. asset risk,

b. credit risk,

c. underwriting risk, and

d. all other business risks and such other relevant risks

as are set forth in the RBC Instructions.

2. These factors shall be determined in each case by applying

the factors in the manner set forth in the RBC Instructions.

D. If a domestic insurer files an RBC Report which in the

judgment of the Commissioner is inaccurate, then the Commissioner,

after notice and opportunity for comment, shall adjust the RBC

Oklahoma Statutes - Title 36. Insurance Page 414

Report to correct the inaccuracy and shall notify the insurer of the

adjustment. The notice shall contain a statement of the reason for

the adjustment. An RBC Report so adjusted shall be referred to as

an "Adjusted RBC Report".
Okla. Stat. tit. 36, § 36-6060.12 — OK Code / Title 36 / Section 36-6060.12
Exempted plans - Calculation of increase in premium
Status: in_force

cost.

Oklahoma Statutes - Title 36. Insurance Page 1110

1. A health benefit plan that, at the end of its base period,

experiences a greater than two percent (2%) increase in premium

costs pursuant to providing benefits for treatment of mental health

and substance use disorders shall be exempt from the provisions of

Section 6060.11 of this title.

2. To calculate base-period-premium costs, the health benefit

plan shall subtract from premium costs incurred during the base

period, both the premium costs incurred during the period

immediately preceding the base period and any premium cost increases

attributable to factors unrelated to benefits for treatment of

mental health and substance use disorders.

3. a. To claim the exemption provided for in paragraph 1 of

this section a health benefit plan shall provide to

the Insurance Commissioner a written request signed by

an actuary stating the reasons and actuarial

assumptions upon which the request is based.

b. The Commissioner shall verify the information provided

and shall approve or disapprove the request within

thirty (30) days of receipt.

c. If, upon investigation, the Commissioner finds that

any statement of fact in the request is found to be

knowingly false, the health benefit plan may be

subject to suspension or loss of license or any other

penalty as determined by the Commissioner with regard

to health maintenance organizations.
Okla. Stat. tit. 36, § 36-2110 — OK Code / Title 36 / Section 36-2110
Formation of mutuals; trust deposit of premiums; issuance
Status: in_force

of policies.

A. All sums collected by a domestic mutual corporation as

premiums and fees on qualifying applications for insurance therein

shall be deposited in trust in an Oklahoma bank or trust company

under a written agreement consistent with this section and with

paragraph 3 of subsection C of Section 2109 of this article. The

corporation shall file an executed copy of such trust agreement with

the Commissioner.

B. Upon issuance to the corporation of a certificate of

authority as an insurer for the kind of insurance for which such

applications were solicited, all funds so held in trust shall become

the funds of the insurer, and the insurer shall forthwith issue and

deliver its policies for which premiums had been paid and accepted.

The insurance provided by such policies shall be effective as of the

date of the certificate of authority.

Oklahoma Statutes - Title 36. Insurance Page 628
Okla. Stat. tit. 36, § 36-4027 — OK Code / Title 36 / Section 36-4027
Authorized deductions from insurance proceeds
Status: in_force

In determining the amount due under any life insurance policy

heretofore or hereafter issued, deduction may be made of:

1. Any unpaid premiums or instalments thereof for the current

policy year due under the terms of the policy, and of

2. The amount of principal and accrued interest of any policy

loan or other indebtedness against the policy then remaining unpaid.
Okla. Stat. tit. 36, § 36-995 — OK Code / Title 36 / Section 36-995
Joint underwriting, joint reinsurance pool and residual
Status: in_force

market activities.

Joint Underwriting, Joint Reinsurance Pool and Residual Market

Activities.

A. Notwithstanding paragraph 3 of subsection A of Section 992

of this title, insurers participating in joint underwriting, joint

reinsurance pools or residual market mechanisms may in connection

with such activity act in cooperation with each other in the making

of rates, rating systems, policy forms, underwriting rules, surveys,

inspections and investigations, the furnishing of loss and expense

statistics or other information, or carrying on research. Joint

underwriting, joint reinsurance pools and residual market mechanisms

shall not be deemed an advisory organization.

B. Except to the extent modified by this section, joint

underwriting, joint reinsurance pool and residual market mechanism

activities are subject to the other provisions of the Property and

Casualty Competitive Loss Cost Rating Act.

C. If, after a hearing, the Commissioner finds that any

activity or practice of an insurer participating in joint

underwriting or a pool is unfair, is unreasonable, will tend to

lessen competition in any market or is otherwise inconsistent with

the provisions or purposes of the Property and Casualty Competitive

Loss Cost Rating Act, the Commissioner may issue a written order and

require the discontinuance of such activity or practice.

D. Every pool shall file with the Commissioner a copy of its

constitution, articles of incorporation, agreement or association,

bylaws, rules and regulations governing its activities, list of

members, the name and address of a resident of this state upon whom

notice, orders of the Commissioner, or process may be served, and

any changes in amendments or changes in the foregoing.

E. Any residual market mechanism, plan or agreement to

implement such a mechanism, and any changes or amendments thereto,

shall be submitted in writing to the Commissioner for consideration

and approval, together with such information as may be reasonably

required.

Oklahoma Statutes - Title 36. Insurance Page 240
Okla. Stat. tit. 36, § 36-2673 — OK Code / Title 36 / Section 36-2673
Certificate of authority - Requirements
Status: in_force

The Insurance Commissioner shall certify nonprofit dental

service corporations by issuing a certificate of authority,

authorizing the applicant to issue contracts to its subscribers,

when it is shown to the satisfaction of the Commissioner that:

1. The applicant is established as a bona fide nonprofit dental

service corporation;

2. The contracts between the applicant and the participating

dentists or other providers of health services, if any, obligate

each provider executing the same to render service to which each

subscriber may be entitled under the terms of the contract to be

issued to the subscribers;

3. The amount of required working capital of the corporation is

paid into the corporation and, if subject to repayment, can be

repaid, but without interest, and only out of operating income;

4. The amount of money actually available for working capital

is sufficient to carry on the plan for a period of three (3) months

from the date of issuance of the certificate of authority; and

5. The applicant has secured signed contracts of participation

from not less than one-third (1/3) of the dentists within this state

who hold a current license issued by the Board of Dentistry pursuant

to the State Dental Act. The form of such contracts of

participation shall be approved by the Board of Dentistry prior to

securing the required signatures.
Okla. Stat. tit. 36, § 36-6420 — OK Code / Title 36 / Section 36-6420
Property and casualty insurance companies - Voluntary
Status: in_force

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 such

Voluntary Association is established and is approved by the

Commissioner of Insurance prior to September 11, 1986, then Sections

6411 through 6415, 6417, 6418 and 6421 of the Insurance Code shall

not become effective.
Okla. Stat. tit. 36, § 36-2619 — OK Code / Title 36 / Section 36-2619
Limited liability
Status: in_force

Oklahoma Statutes - Title 36. Insurance Page 692

A. The private property of the subscribers, agents, officers,

directors, members and employees of any corporation holding a

certificate of authority under this article shall be wholly exempt

from any of the debts, obligations, and liabilities of the

corporation.

B. Until and unless the current annual statement of the

corporation discloses a surplus of Fifty Thousand Dollars

($50,000.00), such corporation shall not issue a policy or contract

without a stated contingent liability of the members, which shall

not be less than one time nor more than ten times the annual cash

premium or dues expressed in the policy or contract.
Okla. Stat. tit. 36, § 36-613.1 — OK Code / Title 36 / Section 36-613.1
Surety bond or other security arrangement required
Status: in_force

Any insurance company transacting the business of property and

casualty insurance in this state shall not be issued a new or

renewal certificate of approval unless the company has provided a

corporate surety bond or approved alternative security arrangement

in an amount determined by the State Insurance Commissioner to be

sufficient to provide for the return of unearned premiums if a

policy is canceled during the term thereof by an insurance company.

The State Insurance Commissioner shall promulgate rules and

regulations to implement and carry out the provisions of this

section.
Okla. Stat. tit. 36, § 36-4031 — OK Code / Title 36 / Section 36-4031
Short title
Status: in_force

Sections 1 through 8 of this act shall be known and may be cited

as the "Life Insurance and Annuity Policyholders Protection Act".
Okla. Stat. tit. 36, § 36-2019 — OK Code / Title 36 / Section 36-2019
Liability of certain persons
Status: in_force

There shall be no liability on the part of and no cause of

action of any nature shall arise against any member insurer or its

agent or employees, the Association, its directors, employees or

agents, for any action taken by them in the performance of their

powers and duties under this act.
Okla. Stat. tit. 36, § 36-4529 — OK Code / Title 36 / Section 36-4529
Rules
Status: in_force

The Commissioner may promulgate rules necessary to implement the

provisions of this act.
Okla. Stat. tit. 36, § 36-2016 — OK Code / Title 36 / Section 36-2016
Examination of Association - Report
Status: in_force

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 such form as the Commissioner shall

prescribe.
Okla. Stat. tit. 36, § 36-2611 — OK Code / Title 36 / Section 36-2611
Annual statement; filing; examination; summons
Status: in_force

A. Each such corporation shall annually, on or before the first

day of March, file in the office of the Insurance Commissioner a

full, true and complete statement of the condition of the

corporation on the thirty-first day of December of the preceding

year in such form as shall be prescribed by the Insurance

Oklahoma Statutes - Title 36. Insurance Page 690

Commissioner, and which shall be verified under oath by at least two

of the principal officers of the corporation.

B. Whenever the Insurance Commissioner deems it pertinent or

necessary, and at least once in each three (3) years, the Insurance

Commissioner shall personally, or by an authorized representative,

visit each corporation, and thoroughly inspect and examine its

financial condition, its ability to fulfill its obligations, whether

it has complied with the provisions of the law, and any other facts

relative to its business methods, management and the equity of its

dealings with its members. The Insurance Commissioner may summon

and administer the oath to and examine as witnesses, the directors,

officers, trustees, agents, representatives and members of any

corporation and any other person or persons relative to its affairs,

transactions and condition. Any corporation so examined shall pay

the proper charges for the per diem, traveling and other necessary

expenses in connection therewith.