§ 6461. Violations--Penalties
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 6461
§ 6461. Violations--Penalties
B. A risk retention group doing business in this state that is not licensed pursuant to the Oklahoma Risk Retention Act shall be considered an unauthorized insurer and shall be subject to the provisions of applicable sections of the Insurance Code1 pertaining to unauthorized insurers.
C. A purchasing group that is registered pursuant to the Oklahoma Risk Retention Act and which violates any provision of said act shall be subject to a fine of up to One Thousand Dollars ($1,000.00) and censure, suspension, or revocation of license or by both such fine and licensure proceedings, after notice and hearing.
Credits
Laws 1987, c. 157, § 11, emerg. eff. June 25, 1987.
Footnotes
Title 36, § 101 et seq.
36 Okl. St. Ann. § 6461, OK ST T. 36 § 6461
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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