§ 6470.14. Suspension or revocation of license
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 6470.14
§ 6470.14. Suspension or revocation of license
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 Insurance Code a civil penalty of not more than Five Thousand Dollars ($5,000.00) for each occurrence.
Credits
Laws 2004, c. 334, § 21, emerg. eff. May 25, 2004; Laws 2006, c. 264, § 67, eff. July 1, 2006; Laws 2013, c. 41, § 12, eff. Nov. 1, 2013.
36 Okl. St. Ann. § 6470.14, OK ST T. 36 § 6470.14
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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