§ 5102. Definitions
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 5102
§ 5102. Definitions
As used in the Reinsurance Intermediary Act:
3. “Insurer” means any person, firm, association or corporation duly licensed in this state pursuant to the applicable provisions of the Oklahoma Insurance Code1 as an insurer;
6. “Reinsurance intermediary broker” (RB) means any person, other than an officer or employee of the ceding insurer, firm, association or corporation, who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of such insurer;
7. “Reinsurance intermediary manager” (RM) means any person, firm, association or corporation that has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department or underwriting office, and acts as an agent for such reinsurer whether known as an RM, manager or other similar term. The following persons shall not be considered RMs, with respect to a reinsurer, for the purposes of the Reinsurance Intermediary Act:
Credits
Laws 1992, c. 178, § 23, eff. Sept. 1, 1992.
Footnotes
Title 36, § 101 et seq.
36 Okl. St. Ann. § 5102, OK ST T. 36 § 5102
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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