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2023 Oklahoma Statutes › Title 36. Insurance › §36-2811. Annual reports to Commissioner; reissuance of certificate; fees.

Every such association shall annually, on or before March first, render a statement in writing to the Insurance Commissioner, showing the status of such company at the close of business on December 31st, next preceding; the names and addresses of its officers; the number of members; amount of insurance in force; the county or counties wherein property insured is located; the number of losses, amounts claimed for losses, appraisement of loss, amounts paid to beneficiaries, amounts collected from members, the percentage of assessments to the total amount of insurance in force; the amount of losses due and unpaid, why unpaid; the amount of losses contested, rejected, resisted or reduced, and why so contested, rejected, resisted or reduced; and any other information which shall be required of it by the Insurance Commissioner, which statement shall be sworn to by the president or vice-president and secretary. Upon receipt of such annual statement, the Insurance Commissioner shall annually reissue a certificate to every such association, if, upon examination he is of the opinion that such association is doing business in compliance with the provisions of this article. Every such association may publish once yearly in weekly newspaper of general circulation in the county of its business and post office address, the annual certificate issued to it by the Insurance Commissioner, authorizing it to continue business.
Laws 1957, p. 354, § 2811.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2812. Extension of membership.

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.
Amended by Laws 1986, c. 251, § 40, eff. Nov. 1, 1986.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2813. Applicability.

The provisions of this article apply only to farmers' mutual fire insurance associations and such associations shall be governed by this article to the extent provided herein. Such associations shall comply with all provisions of the Insurance Code to the extent that such provisions are not in conflict with the provisions of this article.
Added by Laws 1957, p. 354, § 2813, operative July 1, 1957. Amended by Laws 1975, c. 241, § 2, emerg. eff. May 30, 1975; Laws 2006, c. 246, § 2, eff. Nov. 1, 2006.
NOTE: Laws 2006, c. 264, § 58 repealed by Laws 2007, c. 1, § 22, emerg. eff. Feb. 22, 2007.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2814. Formation of additional companies prohibited.

No farmers' mutual fire insurance associations shall be formed after the effective date of this act, nor shall the Insurance Commissioner after said effective date issue a permit to organize such an association to or approve any articles of incorporation of any group of individuals desiring to organize an association or company under the provisions of this article.
Laws 1963, c. 120, § 5, emerg. eff. June 3, 1963.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2901. "Reciprocal" insurance defined.

"Reciprocal" insurance is that resulting from an inter-exchange among persons, known as "subscribers," of reciprocal agreement of indemnity, the inter-exchange being effectuated through an "attorney-in-fact" common to all such persons.
Laws 1957, p. 354, § 2901.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2903. Scope of article; existing insurers.

A. All authorized reciprocal insurers shall be governed by those sections of this article not expressly made applicable to domestic reciprocals only.
B. To the extent not modified by the provisions of this article, reciprocal insurers shall be subject to and governed by the other applicable provisions of this Code.
C. Existing authorized reciprocal insurers shall after the effective date of this Code comply with the provisions of this article, and shall make such amendments to their subscribers' agreement, power of attorney, policies and other documents and accounts and perform such other acts as may be required for such compliance.
Laws 1957, p. 354, § 2903.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2904. Insuring powers of reciprocals.

A. A reciprocal insurer may, upon qualifying therefor as provided for by this Code, transact any kind or kinds of insurance defined by this Code, other than life or title insurance.
B. Such an insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance it is authorized to transact direct.
Laws 1957, p. 355, § 2904.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2905. Name; suits.

A reciprocal insurer shall:
1. Have and use a business name. The name shall include the word "reciprocal," or "interinsurer," or "inter-insurance," or "exchange," or "underwriters," or "underwriting."
2. Sue and be sued in its own name.
Laws 1957, p. 355, § 2905.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2906. Attorney.

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.
Added by Laws 1957, p. 355, § 2906, operative July 1, 1957.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2907. Surplus funds required.

A. A domestic reciprocal insurer hereunder formed, if it has otherwise complied with the provisions of this Code, may be authorized to transact insurance if it deposits and maintains on deposit with the State Treasurer, through the office of the Insurance Commissioner, surplus funds as follows:
1. To transact property insurance, surplus funds of not less than One Hundred Thousand Dollars ($100,000.00).
2. To transact vehicle insurance, surplus funds of not less than One Hundred Fifty Thousand Dollars ($150,000.00).
B. A domestic reciprocal insurer may be authorized to transact additional kinds of insurance if it has otherwise complied with the provisions of this Code therefor and possesses and so maintains on deposit surplus funds in amount equal to the minimum capital required of a stock insurer for authority to transact a like combination of kinds of insurance.
Laws 1957, p. 355, § 2907.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2908. Organization of reciprocal insurer.

A. Two or more persons domiciled in Oklahoma may organize a domestic reciprocal insurer and make application to the Insurance Commissioner for a certificate of authority to transact insurance.
B. The proposed attorney shall fulfill the requirements of and shall execute and file with the Insurance Commissioner, when applying for a certificate of authority, a declaration setting forth:
1. The name of the insurer;
2. The location of the insurer's principal office, which shall be the same as that of the attorney and shall be maintained within this state;
3. The kinds of insurance proposed to be transacted;
4. The names and addresses of the original subscribers;
5. The designation and appointment of the proposed attorney and a copy of the power of attorney;
6. The names and addresses of the officers and directors of the attorney, if a corporation, or its members, if a firm;
7. The powers of the subscribers' advisory committee, and the names and terms of office of the members thereof;
8. That all monies paid to the reciprocal shall, after deducting therefrom any sum payable to the attorney, be held in the name of the insurer and for the purposes specified in the subscribers' agreement;
9. A copy of the subscribers' agreement;
10. A statement that each of the original subscribers has in good faith applied for insurance of a kind proposed to be transacted, and that the insurer has received from each such subscriber the full premium or premium deposit required for the policy applied for, for a term of not less than six (6) months at an adequate rate theretofore filed with and approved by the Insurance Commissioner;
11. A statement of the financial condition of the insurer, a schedule of its assets, and a statement that the surplus as required by Section 2907 of this article is on hand; and
12. A copy of each policy, endorsement, and application form it then proposes to issue or use.
Such declaration shall be acknowledged by the attorney in the manner required for the acknowledgement of deeds.
Added by Laws 1957, p. 355, § 2908, operative July 1, 1957. Amended by Laws 2006, c. 264, § 59, eff. July 1, 2006.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2909. Certificate of authority.

A. The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer.
B. The Insurance Commissioner may refuse, suspend, or revoke the certificate of authority, in addition to other grounds therefor, for failure to comply with any provision of this Code.
Laws 1957, p. 356, § 2909.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2910. Power of attorney.

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;
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.
Laws 1957, p. 356, § 2910.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2912. Attorney's bond.

A. Concurrently with the filing of the declaration provided for in Section 2908 of this article, the attorney of a domestic reciprocal insurer shall file with the Insurance Commissioner a bond in favor of the State of Oklahoma for the benefit of all persons damaged as a result of breach by the attorney of the conditions of his bond as set forth in subsection B hereof. The bond shall be executed by the attorney and by an authorized corporate surety, and shall be subject to the Insurance Commissioner's approval.
B. The bond shall be in the penal sum of Twenty-five Thousand Dollars ($25,000.00), aggregate in form, conditioned that the attorney will faithfully account for all monies and other property of the insurer coming into his hands, and that he will not withdraw or appropriate to his own use, from the funds of the insurer, any monies or property to which he is not entitled under the power of attorney.
C. The bond shall provide that it is not subject to cancellation unless thirty (30) days' advance notice in writing of cancellation is given both the attorney and the Insurance Commissioner.
Laws 1957, p. 357, § 2912.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2914. Action on bond.

Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond.
Laws 1957, p. 357, § 2914.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2915. Legal process service - Judgment.

A. Legal process shall be served upon a domestic reciprocal insurer by serving the insurer's attorney at his principal offices.
B. Any judgment based upon legal process so properly served shall be binding upon each of the insurer's subscribers as their respective interests may appear but in an amount not exceeding their respective contingent liabilities, if any, the same as though personal service of process was had upon each such subscriber.
Added by Laws 1957, p. 357, § 2915, operative July 1, 1957.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2917. Contributions to insurer.

The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms such funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer, and, except upon liquidation of the insurer, shall not be withdrawn or repaid except out of the insurer's realized earned surplus in excess of its minimum required surplus. No such withdrawal or repayment shall be made without the advance approval of the Insurance Commissioner.
Added by Laws 1957, p. 357, § 2917, operative July 1, 1957.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2918. Financial conditions; method of determining.

In determining the financial condition of a reciprocal insurer the Insurance Commissioner shall apply the following rules:
1. The Commissioner shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
2. The surplus deposits of subscribers shall be allowed as assets, except that any premium deposit delinquent for ninety (90) days shall first be charged against such surplus deposit.
3. The surplus deposits of subscribers shall not be charged as a liability.
4. All premium deposits delinquent less than ninety (90) days shall be allowed as assets.
5. An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.
6. The contingent liability of subscribers shall not be allowed as an asset.
7. The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for the compensation of the attorney.
Laws 1957, p. 357, § 2918.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2919. Who may be subscribers.

Individuals, partnerships, and corporations of this state may make application, enter into agreement for and hold policies or contracts in or with and be a subscriber of any domestic, foreign, or alien reciprocal insurer. Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its articles of incorporation, have full power and authority as a subscriber to exchange insurance contracts through such reciprocal insurance. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized and to be fully granted as the rights and powers expressly conferred upon such corporations. Government or governmental agencies, state or political subdivisions thereof, boards, associations, estates, trustees or fiduciaries are authorized to exchange nonassessable reciprocal inter-insurance contracts with each other and with individuals, partnerships, and corporations to the same extent that individuals, partnerships and corporations are herein authorized to exchange reciprocal inter-insurance contracts. Any officer, representative, trustee, receiver, or legal representative of any such subscriber shall be recognized as acting for or on its behalf for the purpose of such contract but shall not be personally liable upon such contract by reason of acting in such representative capacity.
Laws 1957, p. 358, § 2919.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2920. Subscribers' advisory committee.

A. The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt.
B. Not less than two-thirds (2/3) of such committee shall be subscribers other than the attorney, or any person employed by, representing, or having a financial interest in the attorney.
C. The committee shall:
1. Supervise the finances of the insurer;
2. Supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and power of attorney;
3. Procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer;
4. Have such additional powers and functions as may be conferred by the subscribers' agreement.
Laws 1957, p. 358, § 2920.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2921. Subscriber's liability.

A. The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual, several, and proportionate liability, and not joint.
B. Except as to a nonassessable policy each subscriber shall have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while his policy was in force. Such contingent liability may be at the rate of not less than one nor more than ten times the premium or premium deposit stated in the policy, and the maximum aggregate thereof shall be computed in the manner set forth in section 2925 of this article.
C. Each assessable policy issued by the insurer shall contain a statement of the contingent liability, set in type of the same prominence as the insuring clause.
Laws 1957, p. 358, § 2921.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2922. Subscriber's liability on judgments.

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.
Laws 1957, p. 359, § 2922.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2926. Nonassessable policies.

A. If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock generally required of a domestic stock insurer authorized to transact like kinds of insurance, upon application of the attorney and as approved by the subscribers' advisory committee the Insurance Commissioner shall issue his certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state, and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for so long as all such surplus remains unimpaired.
B. Upon impairment of such surplus, the Insurance Commissioner shall forthwith revoke the certificate. Such revocation shall not render subject to contingent liability any policy then in force and for the remainder of the period for which the premium has theretofore been paid; but after such revocation no policy shall be issued or renewed without providing for contingent assessment liability of the subscriber.
C. No insured member or subscriber of a domestic reciprocal insurer shall be liable for assessments on policies issued by such insurer. No policies shall be issued or renewed by a domestic reciprocal insurer which contain provisions for contingent or assessment liability of an insured, member or subscriber. Except, that if required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its subscribers as may require such policies in such state, and need not extinguish the contingent liability applicable to policies theretofore in force in such state.
Laws 1957, p. 359, § 2926; Laws 1981, c. 112, § 3.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2927. Distribution of savings.

A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks, or policies, or between subscribers, but such distribution may vary as to classes of subscribers based on the experience of such subscribers.
Laws 1957, p. 360, § 2927.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2928. Subscriber's share in assets.

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in Section 2917 of this article, and the return of any unused premium, savings, or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were such within the twelve (12) months prior to the last termination of its certificate of authority, according to such reasonable formula as the Insurance Commissioner may approve.
Laws 1957, p. 360, § 2928.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2929. Merger or conversion.

A. A domestic reciprocal insurer upon affirmative vote of not less than two-thirds (2/3) of its subscribers who vote on such merger pursuant to due notice and the approval of the Insurance Commissioner of the terms therefor, may merge with another reciprocal insurer or be converted to a stock or mutual insurer.
B. Such a stock or mutual insurer shall be subject to the same capital requirements and shall have the same rights as a like domestic insurer transacting like kinds of insurance.
C. The Insurance Commissioner shall not approve any plans for such merger or conversion which is inequitable to subscribers, or which, if for conversion to a stock insurer, does not give each subscriber preferential right to acquire stock of the proposed insurer proportionate to his interest in the reciprocal insurer as determined in accordance with Section 2928 of this article and a reasonable length of time within which to exercise such right.
Laws 1957, p. 360, § 2929.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2930. Impaired reciprocals.

A. If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others and to maintain the required surplus, its attorney shall forthwith make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency; but subject to the limitations set forth in the power of attorney or policy.
B. If the attorney fails to make up such deficiency or to make the assessment within thirty (30) days after the Insurance Commissioner orders him to do so, or if the deficiency is not fully made up within sixty (60) days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this Code.
C. If liquidation of such an insurer is ordered, an assessment shall be levied upon the subscribers for such an amount, subject to limits as provided by this article, as the Insurance Commissioner determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons, but including the reasonable cost of the liquidation.
Laws 1957, p. 360, § 2930.
2023 Oklahoma Statutes › Title 36. Insurance › §36-2931. Real estate transactions - Restrictions.

A reciprocal insurer, as defined in Section 2902 of Title 36 of the Oklahoma Statutes, may purchase, receive, own, hold, lease, mortgage, pledge, or encumber, by deed of trust or otherwise, manage, or sell real property in its own name for the purposes and objects of such insurer, pursuant to the provisions of Section 1624 of Title 36 of the Oklahoma Statutes. Any contract, deed, lease, mortgage, deed of trust, purchase or sale agreement, or any other contract, document or instrument to be executed in the name of the reciprocal insurer may be executed by the attorney-in-fact for the insurer, as defined in Section 2906 of Title 36 of the Oklahoma Statutes. This provision shall apply to any contract, deed, lease, mortgage, deed of trust, purchase or sale agreement, or any other contract, document or instrument made and entered into by any reciprocal insurer on and after September 1, 1990.
A reciprocal insurer doing business in this state shall be subject to the same restrictions pertaining to ownership of real property and other real estate transactions that exist for corporations pursuant to Section 2 of Article XXII of the Oklahoma Constitution.
Added by Laws 1990, c. 3, § 1, emerg. eff. March 29, 1990.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3001. Underwriters; forms of insurance authorized, articles of agreements.

"Underwriters" Defined. Individuals, partnerships, or associations of individuals, hereby designated "underwriters," are authorized to make any insurance as hereinafter provided, except life insurance or title insurance, on the Lloyd's plan, by executing articles of agreement expressing their purpose so to do, and complying with the requirements set forth in this article.
Laws 1957, p. 360, § 3001.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3002. Attorneys; office. - "Attorneys" defined.

Policies of insurance may be executed by an attorney or by an attorney-in-fact, or other representative, hereby designated "attorney," authorized by and acting for such underwriters under power of attorney. The principal office of such attorneys shall be maintained at such place as may be designated by the underwriters in their articles of agreement; provided, that no license shall be issued to any attorney at Lloyd's to bind risks or insurance in Oklahoma, or with citizens of Oklahoma, or covering property in Oklahoma, unless their attorneys-in-fact be residents of this state and maintain their offices in this state, except as may be hereinafter specifically provided.
Laws 1957, p. 361, § 3002.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3003. Application for license; contents; kinds of insurance authorized; financial statement; process.

The attorney shall file with the Insurance Commissioner a verified application for license setting forth and accompanied by:
1. The name of the attorney or attorneys and the title under which the business is to be conducted, which title shall contain the name Lloyds, and shall not be so similar to any name or title in use in this state as to be likely to confuse or deceive.
2. The location of the principal office.
3. The kind or combination of kinds of insurance to be written, as defined in Article 7, (Kinds of Insurance; Reinsurance; Limits of Risk) of this Code.
4. A copy of the form of power of attorney by virtue of which the attorney is to act for and bind the several underwriters, and a copy of the articles of agreement entered into between the underwriters themselves and the attorney.
5. The names and addresses of all underwriters, whose number shall not be less than three.
6. A financial statement showing in detail the assets contributed or accumulated in the hands of the attorneys-in-fact, committee of underwriters, trustees, or other officers of such underwriters at Lloyd's, together with the liabilities incurred and outstanding and the income received and disbursements made by the attorney for the underwriters.
7. An instrument executed by each and all of the underwriters specially empowering the attorney to accept service of process for each underwriter in any action on any policy or contract of insurance, and an instrument from the attorney to the Insurance Commissioner delegating the attorney's powers in this respect to such Insurance Commissioner.
Laws 1957, p. 361, § 3003.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3005. Assets required as condition precedent.

No attorney shall be licensed for the underwriters at a Lloyd's under this Code unless the net assets, including the guaranty fund contributed to the attorney, a committee of underwriters, trustees, or other officers as provided for in the articles of agreement, shall be at least Two Hundred Thousand Dollars ($200,000.00) in cash, or other admitted assets.
Laws 1957, p. 361, § 3005.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3007. Liability of underwriters; limitation.

An underwriter at a Lloyd's may limit his total liability on all risks to the amount of his subscription as expressed in his power of attorney and agreement with the attorney-in-fact; provided at least half of the subscription of each underwriter must be paid or contributed to the guaranty fund in cash or admissible securities. Each underwriter shall be responsible solely for his own liability as fixed in the contract of insurance and shall not be liable as a partner and in no event shall the liability of an underwriter exceed the amount of his total underwriters agreement executed in favor of his respective successor attorney or attorneys-in-fact.
Laws 1957, p. 361, § 3007.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3008. Liability of additional or substituted underwriters; authority of deputy, substitute or successor attorney.

Additional or substituted underwriters shall be bound in the same manner and to the same extent as original subscribers to the articles of agreement and power of attorney on file with the Insurance Commissioner; and the acts of the duly-appointed deputy, substitute or successor attorney or any attorney or attorneys licensed under this chapter, accepting powers of attorney from underwriters, and in making and issuing policies and contracts of insurance, and in doing any additional acts incident thereto, shall be deemed authorized by the license issued to the original attorney or attorneys.
Laws 1957, p. 364, § 3608.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3010. Actions on policies or insurance contracts – Process – Judgment - Costs.

Action on any policy or contract of insurance issued by an attorney for the underwriters may be brought against the attorney. In such action, summons and process shall be served on either the Insurance Commissioner or on the attorney-in-fact, and when so served shall have the same effect as if served on the attorney and on each underwriter personally. A judgment in any such action against the attorney shall be binding upon and be judgment against each and all of the underwriters as their several liabilities may appear in the contract of insurance on which the action is brought.
And such summons or other process shall be served in triplicate, and the Insurance Commissioner shall forthwith, by registered mail, send one copy thereof to the attorney for the underwriters at the principal office designated in the application for license or latest amendment thereof. The party commencing any action against the underwriters at a Lloyd's and securing service of process in this manner shall at the time of such service pay to such Insurance Commissioner a fee of Three Dollars ($3.00), which the party shall be entitled to collect as taxable costs in the action if he shall prevail.
Added by Laws 1957, p. 362, § 3010, operative July 1, 1957. Amended by Laws 2009, c. 432, § 18, eff. July 1, 2009.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3011. Deposit required of foreign Lloyd's in home state as condition to permit.

In case underwriters at a Lloyd's who are nonresidents of Oklahoma, or who maintain their principal office outside of Oklahoma, apply to the Insurance Commissioner for a permit to do business in Oklahoma, such permit shall not be granted unless such underwriters have on deposit with the Insurance Commissioner of their home states net assets in the amount of at least Two Hundred Thousand Dollars ($200,000.00).
Laws 1957, p. 362, § 3011.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3012. Revocation of license.

If any attorney-in-fact or underwriters at Lloyd's shall violate any of the provisions of this Code, or any of the other laws of the State of Oklahoma which are applicable to them, the license of such attorney shall be revoked and the right to do business in Oklahoma shall be canceled.
Laws 1957, p. 362, § 3012.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3103. Revocation or suspension of Certificate of Authority.

The Commissioner may, at any time, for good cause shown and after notice and a public hearing, suspend, revoke or refuse to renew any company's Certificate of Authority, if he finds that any one or more of the following causes or circumstances exist:
1. Any violation of, or noncompliance with, any provision of this act;
2. Obtaining, or attempting to obtain, any Certificate of Authority through misrepresentation or fraud;
3. Fraudulent or dishonest practices;
4. Oral or written misrepresentation of the terms, benefits or privileges of any service contract issued, or to be issued, by it or any other company;
5. Insolvency;
6. Willful solicitation of membership from an individual who is or has been a member of another motor service club by giving said person credit for his years of membership with the other motor service club;
7. Waiving the enrollment fee or otherwise reducing the usual fees and charges for a new member when soliciting membership from an individual who is or has been a member of another motor service club; or
8. Inability for any reason to qualify for the issuance of a Certificate of Authority as a motor service club.
Laws 1973, c. 127, § 3, emerg. eff. May 9, 1973.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3104. Approval of form of service contract.

A. No service contract shall be executed, issued or delivered in this state until the form thereof has been approved in writing by the Commissioner, and all promotional and advertising material, membership cards and other indicia of membership shall be submitted for approval on the request of the Commissioner.
B. Every service contract executed, issued or delivered in this state shall be made in duplicate, with one copy being kept by the issuing company and the other copy delivered to the purchasing party.
C. No service contract shall be executed, issued or delivered in this state unless it contains the following:
1. The exact corporate or other name of the company;
2. The exact location of its home office and of its usual place of business in this state, giving street number and city;
3. A provision that the contract may be canceled at any time by the club or canceled at any time by the holder, if the club or its agent have violated any of the provisions of Section 3 or Section 5 of this act in soliciting the purchase of such contract from the holder. If the contract is canceled, pursuant to this provision, the holder will, if he has actually paid the consideration, thereupon be entitled to the unused portion of the consideration paid for such contract, calculated on a pro rata basis over the period of the contract, without any deductions.
4. Provisions plainly specifying:
a. the services promised,
b. that the holder will not be required to pay any sum, in addition to the amount specified in the contract, for any services thus specified,
c. the territory wherein such services are to be rendered, and
d. the date when such service will commence.
5. A statement in not less than 14-point modern type at the head of said contract stating, "This is not an insurance contract."
Laws 1973, c. 127, § 4, emerg. eff. May 9, 1973.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3105. Appointment of agent – License - Fees.

A. Each motor service club operating in this state pursuant to certificate of authority issued hereunder shall file with the Commissioner, within ten (10) days of the date of employment, a notice of appointment of any insurance producer or limited lines producer, resident or nonresident, appointed by the automobile club to sell memberships in the motor service club to the public. This notification shall be upon such form as the Commissioner may prescribe and shall contain the name, address, age, sex, and Social Security number of such club producer, and shall also contain proof satisfactory to the Commissioner that such applicant is not less than eighteen (18) years of age, is of good reputation, and has received training from the club or is otherwise qualified in the field of motor service club service contracts and knowledgeable of the laws of this state pertaining thereto.
B. A licensing fee for insurance producers and limited lines producers, resident or nonresident, shall be in accordance with Section 1435.23 of this title.
C. Upon notice and hearing, the Commissioner may suspend, censure, revoke, or refuse to renew any license of a producer if he finds as to the licensee that any one or more of the following causes exist:
1. Any violation of or noncompliance with any provision of this act;
2. Obtaining or attempting to obtain any such license through misrepresentation or fraud;
3. Oral or written misrepresentation of the terms, conditions, benefits, or privileges of any motor service club service contract issued or to be issued by the motor service club he represents or any other motor service club;
4. Misappropriation or conversion to his own use or illegal holding of monies, belonging to members or others, received in the conduct of business under his license;
5. Pleading nolo contendere or guilty to a felony or conviction by final judgment of a felony;
6. Demonstration of incompetence sufficient in the opinion of the Commissioner to make the producer a source of injury and loss to the public;
7. Fraudulent or dishonest practices;
8. Willful solicitation of membership from an individual who is or has been a member of another motor service club by giving said person credit for his years of membership with the other motor service club;
9. Waiving the enrollment fee or otherwise reducing the usual fees and charges for a new member when soliciting membership from an individual who is or has been a member of another motor service club.
D. In addition to the penalties provided for in this section, a fine of not less than One Hundred Dollars ($100.00) nor more than One Thousand Dollars ($1,000.00) for each occurrence may be levied.
Added by Laws 1973, c. 127, § 5, emerg. eff. May 9, 1973. Amended by Laws 1984, c. 173, § 9, emerg. eff. May 7, 1984; Laws 2009, c. 432, § 19, eff. July 1, 2009; Laws 2021, c. 478, § 19, emerg. eff. May 12, 2021; Laws 2022, c. 154, § 3, eff. Nov. 1, 2022.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3106. Examination of financial condition.

A. Whenever the Insurance Commissioner deems it to be prudent or necessary the Commissioner shall personally, or by an authorized representative, visit each motor service club and thoroughly inspect and examine its financial condition, its ability to fulfill its obligations, whether it has complied with the provisions of this act and any other facts relative to its business methods, management and the equity of its dealings with its members.
B. Every motor service club shall furnish to the Commissioner, on or before July 1 of each year, on blanks prescribed and furnished by the Commissioner, a statement which shall exhibit the financial condition of the company as of December 31 of the previous calendar year. Such statements shall be subscribed and sworn to by the president and secretary or two other proper officers of the company.
Added by Laws 1973, c. 127, § 6, emerg. eff. May 9, 1973. Amended by Laws 2002, c. 307, § 26, eff. Nov. 1, 2002.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3108. Misrepresentation.

A motor service club or an officer or producer thereof shall not in any manner misrepresent the terms, benefits or privileges of any service contract issued or to be issued by it or by another motor service club.
Added by Laws 1973, c. 127, § 8, emerg. eff. May 9, 1973. Amended by Laws 2021, c. 478, § 20, emerg. eff. May 12, 2021.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3110. Inapplicability to attorneys and insurance, bonding or surety companies.

Nothing in this act shall apply to a duly authorized attorney-at-law acting in the usual cause of his profession nor to any insurance company, bonding company or surety company now or hereafter duly and regularly licensed and doing business as such under the laws of this state.
Laws 1973, c. 127, § 10, emerg. eff. May 9, 1973.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3111. Disposition of fees - Personnel.

All filing fees and examination costs collected under this act shall be credited to the General Fund of the State of Oklahoma. The Commissioner is authorized to employ such personnel as may be necessary to carry out the provisions of this act and to fix their compensation within the amounts made available by appropriation and by the fund established by this section.
Laws 1973, c. 127, § 11, emerg. eff. May 9, 1973.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3112. Penalties.

Any person violating any of the provisions of this act shall be deemed guilty of a misdemeanor and upon conviction thereof shall be punished by a fine of not more than Five Hundred Dollars ($500.00) or by imprisonment in the county jail for not more than six (6) months, or by both such fine and imprisonment.
Laws 1973, c. 127, § 12, emerg. eff. May 9, 1973.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3202. Definitions.

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.
Added by Laws 1994, c. 294, § 23, eff. Sept. 1, 1994.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3203. Coverage for child health supervision services.

A. All health benefit plans which provide coverage for a family member of the insured or subscriber shall offer coverage for child health supervision services. Such services shall include coverage from the moment of birth through the age of eighteen years. Each such plan or contract shall, at a minimum, provide benefits for child health supervision services at approximately the following age intervals: birth, two months, four months, six months, nine months, twelve months, eighteen months, two years, three years, four years, five years, six years, eight years, ten years, twelve years, fourteen years, sixteen years and eighteen years. A health benefit plan may provide that child health supervision services which are rendered during a periodic review shall only be covered to the extent that services are provided by or under the supervision of a single physician or other primary health care provider during the course of one visit. Benefits for such services shall be subject to the same durational limits, dollar limits, deductibles and coinsurance factors as other covered services in such health insurance policies. All Oklahoma health benefit plans delivered, issued for delivery, modified or renewed on or after January 1, 1995, shall be subject to the provisions of this section.
B. Nothing in the Oklahoma Child Health Insurance Reform Act shall prohibit the health care insurer from including any or all coverage for child health supervision services as standard coverage in their policies or contracts.
Added by Laws 1994, c. 294, § 24, eff. Sept. 1, 1994.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3302. Definitions.

As used in the Own Risk and Solvency Assessment (ORSA) Act:
1. "Insurance group" shall mean, for the purpose of conducting an Own Risk and Solvency Assessment (ORSA), those insurers and affiliates included within an insurance holding company system as defined in Section 1651 of Title 36 of the Oklahoma Statutes;
2. "Insurer" shall have the same meaning as set forth in Section 103 of Title 36 of the Oklahoma Statutes, except that it shall not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia or a state or political subdivision of a state;
3. "Own Risk and Solvency Assessment" or "ORSA" shall mean a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurance group's current business plan, and the sufficiency of capital resources to support those risks;
4. "ORSA Guidance Manual" shall mean the current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the National Association of Insurance Commissioners (NAIC), as amended from time to time. A change in the ORSA Guidance Manual shall be effective on January 1 following the calendar year in which the changes have been adopted by the NAIC; and
5. "ORSA Summary Report" shall mean a confidential high-level summary of an insurer's or insurance group's ORSA.
Added by Laws 2015, c. 228, § 2, eff. Jan. 1, 2016.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3303. Risk management framework.

An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.
Added by Laws 2015, c. 228, § 3, eff. Jan. 1, 2016.
2023 Oklahoma Statutes › Title 36. Insurance › §36-3304. ORSA - When required.

Subject to the provisions of Section 6 of this act, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA Guidance Manual. The ORSA shall be conducted no less than annually, but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.
Added by Laws 2015, c. 228, § 4, eff. Jan. 1, 2016.