§ 4904. Bail bond insurers--Financial statement--Reports
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 4904
§ 4904. Bail bond insurers--Financial statement--Reports
A. Each insurer writing bail bonds in this state shall file in the Office of the Insurance Commissioner quarterly statements which shall exhibit the financial condition of the insurer. The statements shall be in such general form and content as approved by the National Association of Insurance Commissioners for the kinds of insurance to be reported, and as supplemented for additional information as required by the Commissioner. Such statements shall be subscribed and sworn by the president and secretary and other proper officers of the insurer. The statements shall be filed on or before the following dates:
B. The statements required to be filed pursuant to subsection A of this section shall contain the loss reserve for bail bonds written in this state. Loss reserves shall be computed as twenty-five percent (25%) of the direct written premium of outstanding liability less monies held by the insurer in trust to pay losses from bail.
C. Each insurer writing bail bonds in this state shall file monthly reports based upon the previous month's activity with the Commissioner and on forms prescribed by the Commissioner within thirty (30) days after the end of each preceding month, which shall include the following information and such other information as the Commissioner deems necessary:
Credits
Laws 1987, c. 211, § 2, eff. Nov. 1, 1987; Laws 1992, c. 98, § 1, eff. Sept. 1, 1992.
36 Okl. St. Ann. § 4904, OK ST T. 36 § 4904
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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