§ 375.12. Revenues, monies, and assets--Rights, privileges, powers, and authority of mutual ins...
Oklahoma Statutes AnnotatedTitle 85. Workers' CompensationEffective: [See Text Amendments] to October 31, 2022
Effective: [See Text Amendments] to October 31, 2022
85 Okl.St.Ann. § 375.12
§ 375.12. Revenues, monies, and assets--Rights, privileges, powers, and authority of mutual insurance companies
A. All revenues, monies, and assets of CompSource Mutual Insurance Company belong solely to the Company and shall be governed by the laws applicable to domestic mutual insurance companies. The state covenants with the policyholders of the Company, persons receiving workers' compensation benefits, and the Company's creditors that the state will not borrow, appropriate, or direct payments from those revenues, monies, or assets for any purpose. The state has no liability or responsibility to the policyholders, persons receiving workers' compensation benefits, or the creditors of the Company if the Company is placed in conservatorship or receivership, or becomes insolvent.
B. CompSource Mutual Insurance Company may exercise all the rights, privileges, powers, and authority of any other mutual insurance company organized to transact workers' compensation insurance business in this state, subject to the requirements of Title 36 of the Oklahoma Statutes. Effective January 1, 2015:
Credits
Laws 2013, c. 254, § 12.
85 Okl. St. Ann. § 375.12, OK ST T. 85 § 375.12
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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