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§ 1804. Appointment of supervisor--Acts prohibited--Additional requirements

Oklahoma Statutes AnnotatedTitle 36. Insurance

Oklahoma Statutes Annotated
Title 36. Insurance (Refs & Annos)
Chapter 1. Insurance Code (Refs & Annos)
Article 18. Supervision and Conservatorship of Insurers (Refs & Annos)
36 Okl.St.Ann. § 1804
§ 1804. Appointment of supervisor--Acts prohibited--Additional requirements
Currentness
A. During any period of supervision, the Commissioner may appoint a supervisor for such insurer and provide that the insurer may not do any of the following things without the prior approval of the Commissioner or his supervisor:
1. Dispose, convey or encumber any of its assets or its business in force;
2. Withdraw funds from bank accounts;
3. Lend funds;
4. Invest funds;
5. Transfer property;
6. Incur any debt, obligation or liability;
7. Merge or consolidate with another company; or
8. Enter into any new reinsurance contract or treaty.
B. In addition, the Commissioner may require of the insurer, the following:
1. Periodic actuarial reviews;
2. That the insurer limit or cease writing certain lines of insurance.

Credits

Laws 1975, c. 316, § 4, emerg. eff. June 12, 1975; Laws 1986, c. 251, § 28, eff. Nov. 1, 1986.
36 Okl. St. Ann. § 1804, OK ST T. 36 § 1804
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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