Okla. Stat. tit. 36, § 36-1698: Insurance securitization – Not deemed an insurance or

reinsurance contract.

A protected cell company insurance securitization shall not be

deemed to be an insurance or reinsurance contract. An investor in a

protected cell company insurance securitization shall not, by sole

means of this investment, be deemed to be transacting an insurance

business in this state. The underwriters or selling agents and

their partners, directors, officers, members, managers, employees,

agents, representatives and advisors involved in a protected cell

company insurance securitization shall not be deemed to be

conducting an insurance or reinsurance agency, brokerage,

intermediary, advisory or consulting business by virtue of their

activities in connection with those businesses.