§ 6146. Deposit required
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 6146
§ 6146. Deposit required
A. A prepaid dental plan organization shall keep on deposit with the Insurance Commissioner cash certificates of deposit issued by solvent insured banks and trust companies in Oklahoma, or a combination of cash certificates or securities eligible for investment of capital funds, which have been approved by the Commissioner in the following amounts:
Number of members | Deposit | ||
5,000 or less | $25,000.00 | ||
5,001--7,500 | $30,000.00 | ||
7,501--10,000 | $50,000.00 | ||
10,001--15,000 | $75,000.00 | ||
15,001--20,000 | $100,000.00 | ||
20,001--25,000 | $125,000.00 | ||
25,001--30,000 | $150,000.00 | ||
30,001--40,000 | $175,000.00 | ||
40,001 and above | $200,000.00 |
D. An unpaid final judgment arising upon a membership coverage shall be a lien on the deposit held by the Commissioner, subject to execution after thirty (30) days from the entry of final judgment, unless the judgment is satisfied. If the deposit held by the Commissioner is reduced, the deposit shall be replenished within ninety (90) days by the prepaid dental plan organization.
F. Upon liquidation or dissolution of a prepaid dental plan organization and the satisfaction of all debts and liabilities of the organization, any balance remaining of the cash or securities deposit as prescribed in subsection A of this section together with any other assets of the prepaid dental plan organization shall be returned by the Commissioner to the prepaid dental plan organization.
Credits
Laws 1983, c. 66, § 6, eff. Nov. 1, 1983; Laws 2014, c. 275, § 18, eff. Nov. 1, 2014.
36 Okl. St. Ann. § 6146, OK ST T. 36 § 6146
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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