§ 6470.24.1. Notice requirements
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 6470.24.1
§ 6470.24.1. Notice requirements
No captive insurance company shall voluntarily take any of the following actions without providing the Insurance Commissioner at least thirty (30) days prior written notice and receiving the Commissioner's approval of any such action:
For purposes of this section, “material”, in relation to financial matters, means any transaction or series of related transactions involving more than the lesser of five percent (5%) of the captive insurance company's assets or twenty-five percent (25%) of its capital and surplus. “Assets” and “capital and surplus” shall be measured as of the most recent filed report required by Section 6470.11 of Title 36 of the Oklahoma Statutes.
Credits
Laws 2013, c. 41, § 1, eff. Nov. 1, 2013.
36 Okl. St. Ann. § 6470.24.1, OK ST T. 36 § 6470.24.1
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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