reglab/housing_qa huggingface dataset:
36 OK Stat § 36-2009 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2009. Powers and duties of Commissioner.

|A. The Commissioner shall: |1. Notify the Oklahoma Property and Casualty Insurance Guaranty Association of the existence of an insolvent insurer not later than three (3) days after notice of the determination is received. The Association shall be entitled to a copy of a complaint seeking an order of liquidation with a finding of insolvency against a member company at the same time that the complaint is filed with a court of competent jurisdiction; and2. Provide the Association with a statement of the net direct written premiums of each member insurer upon the request of the board of directors.B. The Commissioner may:1. Suspend or revoke, after the notice and hearing, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the Commissioner may levy a fine on any member insurer which fails to pay an assessment when due. The fine shall not exceed five percent (5%) of the unpaid assessment per month, except that no fine shall be less than One Hundred Dollars ($100.00) per month;2. Revoke the designation of any servicing facility if the Commissioner finds claims are being handled unsatisfactorily; or3. Examine or audit the Association.C. Any final action or order of the Commissioner under the Oklahoma Property and Casualty Insurance Guaranty Association Act shall be subject to judicial review in a court of competent jurisdiction.Added by Laws 1980, c. 362, § 9, emerg. eff. June 27, 1980. Amended by Laws 2010, c. 159, § 8, eff. Nov. 1, 2010.
36 OK Stat § 36-2010 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2010. Payment of covered claims - Recovery from certain persons - Priority of claims.

|A. Any person recovering under the Oklahoma Property and Casualty Insurance Guaranty Association Act shall be deemed to have assigned the rights of the person under the policy to the Oklahoma Property and Casualty Insurance Guaranty Association to the extent of the recovery of the person from the Association. Every insurer or claimant seeking the protection of this act shall cooperate with the Association to the same extent as the person would have been required to cooperate with the insolvent insurer. In the case of an insolvent insurer operating on a plan with assessment liability, payment of covered claims by the Association shall not operate to reduce the liability of insureds to the receiver, liquidator or statutory successor for unpaid assessments. |B. The Association shall have the right to recover from any person who is an affiliate of the insolvent insurer all amounts paid by the Association on behalf of that person pursuant to the provisions of the Oklahoma Property and Casualty Insurance Guaranty Association Act, whether for indemnity, defense or otherwise.C. The receiver, liquidator or statutory successor of an insolvent insurer shall be bound by settlements of covered claims by the Association or a similar organization in another state. The Association shall have a priority over general creditors of the insolvent insurer against the assets of the insolvent insurer equal to the amount of covered claims paid by the Association pursuant to the Oklahoma Property and Casualty Insurance Guaranty Association Act. No other priority under the provisions of this section unless the laws of such other state grant a similar priority to the Association, in which case such other association or similar organization of another state shall have a priority against the assets of the insolvent insurer equal to that given to the Association by such other state.D. The Association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the Association and estimates of anticipated claims on the Association which shall preserve the rights of the Association against the assets of the insolvent insurer.Added by Laws 1980, c. 362, § 10, emerg. eff. June 27, 1980. Amended by Laws 1986, c. 251, § 33, eff. Nov. 1, 1986; Laws 2010, c. 159, § 9, eff. Nov. 1, 2010.
36 OK Stat § 36-2011 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2011. Proposal to distribute assets of insolvent company - 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; and5. 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 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.Laws 1980, c. 362, § 11, emerg. eff. June 27, 1980.
36 OK Stat § 36-2012 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2012. Exhaustion of rights under other policies, governmental program or associations.

|A. 1. Any person having a claim against an insurer shall be required to first exhaust all coverage provided by another policy if it arises from the same facts, injury or loss that gave rise to the covered claim against the Oklahoma Property and Casualty Insurance Guaranty Association. The requirement to exhaust all coverage shall apply without regard to whether the other insurance policy is a policy written by a member insurer. However, no person shall be required to exhaust any right under the policy of an insolvent insurer or any right under a life insurance policy. |2. Any amount payable on a covered claim under the Oklahoma Property and Casualty Insurance Guaranty Association Act shall be reduced by the full applicable limits stated in the insurance policy or by the amount of the recovery under the insurance policy as provided herein. The Association shall receive a full credit for the stated limits, unless the claimant demonstrates that the claimant used reasonable efforts to exhaust all coverage and limits applicable under the other insurance policy. If the claimant demonstrates that the claimant used reasonable efforts to exhaust all coverage and limits applicable under the insurance policy, or if there are no applicable stated limits under the policy, the Association shall receive a full credit for the total recovery.B. Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent in another state shall seek recovery first from the association of the place of residence of the insured. If it is a first party claim for damage to property with a permanent location, the person shall seek recovery first from the association of the state where the property is located, and if it is a workers' compensation claim, the person shall seek recovery first from the association of the residence of the claimant. Any recovery under this act shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.Added by Laws 1980, c. 362, § 12, emerg. eff. June 27, 1980. Amended by Laws 1986, c. 251, § 34, eff. Nov. 1, 1986; Laws 2010, c. 159, § 10, eff. Nov. 1, 2010.
36 OK Stat § 36-2014 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2014. Scope of covered claims.

|A covered claim shall not include any claim filed with the Association after the final date set by the court for the filing of claims against the liquidator or receiver of an insolvent insurer. |Added by Laws 1980, c. 362, § 14, emerg. eff. June 27, 1980.
36 OK Stat § 36-2015 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2015. Prohibited acts.

|No person, including an insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated or placed before the public, in any newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio station or television station, or in any other way, any advertisement, announcement or statement which uses the existence of the Oklahoma Property and Casualty Insurance Guaranty Association for the purpose of sales, solicitation or inducement to purchase any form of insurance covered by the Oklahoma Property and Casualty Insurance Guaranty Association Act. This section shall not apply to the Oklahoma Property and Casualty Insurance Guaranty Association or to any other entity which does not sell or solicit insurance. |Laws 1980, c. 362, § 15, emerg. eff. June 27, 1980.
36 OK Stat § 36-2016 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2016. Examination of Association - Report.

|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. |Added by Laws 1980, c. 362, § 16, emerg. eff. June 27, 1980. Amended by Laws 2010, c. 159, § 11, eff. Nov. 1, 2010.
36 OK Stat § 36-2017 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2017. Exemption from taxes and fees.

|The Association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions. |Laws 1980, c. 362, § 17, emerg. eff. June 27, 1980.
36 OK Stat § 36-2018 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2018. Payment of assessment - Effect on rate increase or decrease.

|Any member insurer who has paid an assessment pursuant to the Oklahoma Property and Casualty Insurance Guaranty Association Act shall include amounts sufficient to recoup a sum equal to the amounts paid to the Oklahoma Property and Casualty Insurance Guaranty Association by the member insurer, less any amounts returned to the member insurer by the Association. Rates shall not be deemed excessive because they contain an additional amount reasonably calculated to recoup all assessments paid by the member insurer in its next filing for a rate increase or decrease before the Insurance Commissioner. |Added by Laws 1980, c. 362, § 19, emerg. eff. June 27, 1980. Amended by Laws 1982, c. 258, § 4, emerg. eff. May 14, 1982; Laws 2006, c. 264, § 51, eff. July 1, 2006; Laws 2010, c. 159, § 12, eff. Nov. 1, 2010.
36 OK Stat § 36-2019 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2019. Liability of certain persons.

|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. |Laws 1980, c. 362, § 19, emerg. eff. June 27, 1980.
36 OK Stat § 36-2020 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2020. Stay of proceedings - Access to records.

|All proceedings in which the insolvent insurer, its policyholder, or the Oklahoma Property and Casualty Insurance Guaranty Association is a party in any court in this state shall be stayed six (6) months and additional time may be determined by the court from the date when insolvency is determined or an ancillary proceeding is instituted in the state, whichever is later, to permit proper defense by the association of all pending causes of action. The liquidator, receiver or statutory successor of an insolvent insurer covered by this act shall permit the board or its authorized representative access to the records of the insolvent insurer as are necessary to the board in carrying out its functions under this act with regard to the covered claims. In addition, the liquidator, receiver or statutory successor shall provide the board or its representative with copies of those records upon the request of the board and at the expense of the board. |Added by Laws 1985, c. 328, § 18, emerg. eff. July 29, 1985. Amended by Laws 1986, c. 251, § 35, eff. Nov. 1, 1986; Laws 2010, c. 159, § 13, eff. Nov. 1, 2010.
36 OK Stat § 36-2020.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2020.1. Efficient coordination and cooperation with receivers - Uniform Data Standards.

|The Oklahoma Property and Casualty Insurance Guaranty Association, in cooperation with other obligated or potentially obligated guaranty associations, or their designated representatives, shall make all reasonable efforts to coordinate and cooperate with receivers, or their designated representatives, in the most efficient and uniform manner, including the use of Uniform Data Standards as promulgated or approved by the National Association of Insurance Commissioners. |Added by Laws 2010, c. 159, § 14, eff. Nov. 1, 2010.
36 OK Stat § 36-2020.2 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2020.2. High net worth insured claims - Obligation to pay - Procedures.

|A. For purposes of this section, “high net worth insured” means any insured whose net worth exceeds Fifty Million Dollars ($50,000,000.00) on December 31 of the year prior to the year in which the insurer becomes an insolvent insurer; provided that the net worth of an insured on that date shall be deemed to include the aggregate net worth of the insured and all of its subsidiaries and affiliates as calculated on a consolidated basis. |B. 1. The Oklahoma Property and Casualty Insurance Guaranty Association shall not be obligated to pay any first party claims by a high net worth insured; and2. The Association shall have the right to recover from a high net worth insured all amounts paid by the association to or on behalf of the insured, whether for indemnity, defense or otherwise.C. The Association shall not be obligated to pay any claim that would otherwise be a covered claim that is an obligation to or on behalf of a person who has a net worth greater than that allowed by the insurance guaranty association law of the state of residence of the claimant at the time specified by the applicable law of that state, and which association has denied coverage to that claimant on that basis.D. The Association shall establish reasonable procedures for requesting financial information from insureds on a confidential basis for purposes of applying this section, provided that the financial information may be shared with any other association similar to the association and the liquidator for the insolvent insurer on the same confidential basis. Any request to an insured seeking financial information shall advise the insured of the consequences of failing to provide the financial information. If an insured refuses to provide the requested financial information where it is requested and available, the Association may, until the time as the information is provided, provisionally deem the insured to be a high net worth insured for the purpose of denying a claim under subsection B of this section.E. In any lawsuit contesting the applicability of this section where the insured has refused to provide financial information under the procedure established pursuant to subsection D of this section, the insured shall bear the burden of proof concerning its net worth at the relevant time. If the insured fails to prove that its net worth at the relevant time was less than the applicable amount, the court shall award the association its full costs, expenses and reasonable attorney fees in contesting the claim.Added by Laws 2010, c. 159, § 15, eff. Nov. 1, 2010.
36 OK Stat § 36-2021 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2021. Short title.

|This act shall be known and may be cited as the Oklahoma Life and Health Insurance Guaranty Association Act. |Laws 1981, c. 133, § 1.
36 OK Stat § 36-2022 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2022. Purpose of act.

|A. The purpose of the Oklahoma Life and Health Insurance Guaranty Association Act is to protect, subject to certain limitations, the persons specified in subsection A of Section 2025 of this title, against failure in the performance of contractual obligations, under life, health, and annuity policies, plans or contracts specified in subsection B of Section 2025 of this title, because of the impairment or insolvency of the member insurer that issued the policies, plans or contracts. |B. To provide this protection, an association of member insurers has been created and exists to pay benefits and to continue coverages as limited in this act, and members of the Association are subject to assessment to provide funds to carry out the purposes of this act.Added by Laws 1981, c. 133, § 2. Amended by Laws 1987, c. 177, § 1, eff. Nov. 1, 1987; Laws 2019, c. 384, § 1, eff. Nov. 1, 2019.
36 OK Stat § 36-2023 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2023. Creation - Membership - Administration - Supervision.

|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; and3. 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.Added by Laws 1981, c. 133, § 3. Amended by Laws 2019, c. 384, § 2, eff. Nov. 1, 2019; Laws 2021, c. 478, § 17, emerg. eff. May 12, 2021.
36 OK Stat § 36-2026 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-2026. Board of directors - Membership - Term - Vacancies - Approval - Compensation.

|A. The Board of Directors of the Oklahoma Life and Health Insurance Guaranty Association shall consist of not less than seven (7) nor more than eleven (11) member insurers serving terms as established in the procedural rules of the Association. A majority of the Board shall be selected from the fifty (50) member insurers which write the largest volume of life and accident and health premiums and annuity considerations for the previous year. The members of the Board shall be selected by member insurers subject to the approval of the Insurance Commissioner. Vacancies on the Board shall be filled for the remaining period of the term by a majority vote of the remaining Board members, subject to the approval of the Commissioner. |B. In calculating total premium for Board qualification purposes, premiums collected by different members of the same multi-insurer group may be attributable to each member of the group; provided, no two members of the same group shall serve on the Board at the same time.C. In approving selections, the Commissioner shall consider, among other things, whether all member insurers are fairly represented.D. Members of the Board may be reimbursed by the Association for expenses incurred by them as members of the Board, but members of the Board shall not otherwise be compensated by the Association for their services.Added by Laws 1981, c. 133, § 6. Amended by Laws 1998, c. 237, § 1, eff. July 1, 1998; Laws 2019, c. 384, § 5, eff. Nov. 1, 2019.