§ 5111. Penalties--Restitution--Review
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 5111
§ 5111. Penalties--Restitution--Review
A. A reinsurance intermediary, insurer or reinsurer found by the Insurance Commissioner, after notice and opportunity for a hearing conducted in accordance with the Administrative Procedures Act,1 to be in violation of any provision of the Reinsurance Intermediary Act, shall:
B. In addition, if a violation of the Reinsurance Intermediary Act is committed by a reinsurance intermediary, such reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to such violation.
Credits
Laws 1992, c. 178, § 32, eff. Sept. 1, 1992; Laws 1997, c. 418, § 98, eff. Nov. 1, 1997.
Footnotes
Title 75, § 250 et seq.
36 Okl. St. Ann. § 5111, OK ST T. 36 § 5111
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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