§ 1531. Foreign insurers
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 1531
§ 1531. Foreign insurers
a. the date an RBC Report would be required to be filed by a domestic insurer under this act,1 or
B. 1. The Commissioner may require a foreign insurer to file an RBC Plan with the Commissioner in the event of a Company Action Level Event, Regulatory Action Level Event, or Authorized Control Level Event. The filing shall be made pursuant to the RBC statute applicable in the state of domicile of the insurer or, if no RBC statute is in force in that state, pursuant to the provisions of this act. If the insurance commissioner of the state of domicile of the foreign insurer fails to require the foreign insurer to file an RBC Plan in the manner specified under that state's RBC statute or, if no RBC statute is in force in that state, the filing shall be made pursuant to Section 5 of this act.2
C. In the event of a Mandatory Control Level Event with respect to any foreign insurer, if no domiciliary receiver has been appointed with respect to the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the Commissioner may make application to the Oklahoma County District Court as permitted under Article 19 of the Oklahoma Insurance Code3 with respect to the liquidation of property of foreign insurers found in this state.
Credits
Laws 1997, c. 229, § 12, eff. July 1, 1997.
36 Okl. St. Ann. § 1531, OK ST T. 36 § 1531
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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