§ 6947. Foreign health maintenance organizations
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 6947
§ 6947. Foreign health maintenance organizations
a. the date an RBC report would be required to be filed by a domestic health maintenance organization under this act,1 or
B. In the event of a Company Action Level Event, Regulatory Action Level Event or Authorized Control Level Event with respect to a foreign health maintenance organization, as determined under the RBC statute applicable in the state of domicile of the health maintenance organization or, if no RBC statute is in force in that state, under the provisions of this act, if the Insurance Commissioner of the state of domicile of the foreign health maintenance organization fails to require the foreign health maintenance organization 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, under the provisions of Section 40 of this act,2 the Commissioner may require the foreign health maintenance organization to file an RBC plan with the Commissioner. In such event, the failure of the foreign health maintenance organization to file an RBC plan with the Commissioner shall be grounds to order the health maintenance organization to cease and desist from writing new insurance business in this state.
C. In the event of a Mandatory Control Level Event with respect to a foreign health maintenance organization, if no domiciliary receiver has been appointed for the foreign health maintenance organization under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign health maintenance organization, the Commissioner may make application to the District Court of Oklahoma County as permitted under Article 19 of the Insurance Code3 with respect to the liquidation of property of foreign health maintenance organizations found in this state, and the occurrence of the Mandatory Control Level Event shall be considered adequate grounds for the application.
Credits
Laws 2003, c. 197, § 47, eff. Nov. 1, 2003.
Footnotes
Title 36, § 6937 et seq.
O.S.L.2003, c. 197, § 40 [Title 36, 6940].
Title 36, § 1901 et seq.
36 Okl. St. Ann. § 6947, OK ST T. 36 § 6947
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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