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§ 1936. Restrictions on insurers subject to delinquency proceedings

Oklahoma Statutes AnnotatedTitle 36. Insurance

Oklahoma Statutes Annotated
Title 36. Insurance (Refs & Annos)
Chapter 1. Insurance Code (Refs & Annos)
Article 19. Rehabilitation and Liquidation (Refs & Annos)
36 Okl.St.Ann. § 1936
§ 1936. Restrictions on insurers subject to delinquency proceedings
Currentness
No insurer that is subject to any delinquency proceeding, whether formal or informal, administrative or judicial, shall:
1. be released from such proceeding, unless such proceeding is converted into a judicial rehabilitation or liquidation proceeding;
2. be permitted to solicit or accept new business or request or accept the restoration of any suspended or revoked license or certificate of authority;
3. be returned to the control of its shareholders or private management; or
4. have any of its assets returned to the control of its shareholders or private management;
until all payments of or on account of the insurer's contractual obligations by all guaranty associations, along with all expenses thereof and interest on all such payments and expenses, shall have been repaid to the guaranty associations or a plan of repayment by the insurer shall have been approved by the guaranty associations.

Credits

Laws 1987, c. 177, § 9, eff. Nov. 1, 1987.
36 Okl. St. Ann. § 1936, OK ST T. 36 § 1936
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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