§ 1932. Levy of assessment
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 1932
§ 1932. Levy of assessment
A. Upon the basis of the report provided for in Section 1831 of this article,1 including any amendments thereof, the court, ex parte, may levy one or more assessments against all members of such insurer who, as shown by the records of the insurer, were members (if a mutual insurer) or subscribers (if a reciprocal insurer) at any time within one (1) year prior to the date of issuance of the order to show cause under Section 1803 of this article.2
B. Such assessment or assessments shall cover the excess of the probable liabilities over the reasonable value of the assets, together with the estimated cost of collection and percentage of uncollectibility thereof. The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this article or pursuant to any other provision of this Code,3 shall be for no greater amount than that specified in the policy or policies of the member or subscriber and as limited under this Code, except that if the court finds that the policy was issued at a rate or premium below the minimum rate lawfully permitted for the risk insured, the court may determine the upper limit of such assessment upon the basis of such minimum rate.
Credits
Laws 1957, p. 302, § 1832, operative July 1, 1957. Renumbered from Title 36, § 1832 by Laws 1975, c. 316, § 12, emerg. eff. June 12, 1975.
36 Okl. St. Ann. § 1932, OK ST T. 36 § 1932
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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