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§ 1702. Purpose of deposits

Oklahoma Statutes AnnotatedTitle 36. Insurance

Oklahoma Statutes Annotated
Title 36. Insurance (Refs & Annos)
Chapter 1. Insurance Code (Refs & Annos)
Article 17. Administration of Deposits (Refs & Annos)
36 Okl.St.Ann. § 1702
§ 1702. Purpose of deposits
Currentness
Such deposits shall be held as follows:
1. When the deposit is required for authority to transact insurance in Oklahoma the deposit shall be held for the protection of all the insurer's policyholders and/or creditors within the United States.
2. When the deposit is required pursuant to the laws of another state, province, or country, the deposit shall be held for such purposes as is required by such laws, and as specified by the Insurance Commissioner at the time the deposit is made.
3. When the deposit is required pursuant to the retaliatory provision, Section 6301 of Article 6 (Authorization of Insurers and General Requirements Article), the deposit shall be held for purposes as specified in the Insurance Commissioner's order requiring the deposit.

Credits

Laws 1957, p. 291, § 1702, operative July 1, 1957; Laws 1969, c. 122, § 1, emerg. eff. April 3, 1969.

Footnotes

1
So in enrolled bill; see Title 36, § 628.
36 Okl. St. Ann. § 1702, OK ST T. 36 § 1702
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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