Okla. Stat. tit. 36, § 36-1905: Grounds for rehabilitation of domestic insurers

The Insurance Commissioner may apply to the court for an order

appointing the Commissioner as receiver of and directing the

Commissioner to rehabilitate a domestic insurer upon one or more of

the following grounds. That the insurer:

1. Is impaired or insolvent.

2. Is in a condition such that the continued operation would be

hazardous to the policyholders, the creditors of the insurer, or the

general public.

3. Has refused to submit its books, records, accounts or

affairs to reasonable examination by the Insurance Commissioner.

4. Has failed to comply with an order of the Insurance

Commissioner to make good an impairment of capital or surplus or

both.

5. Has transferred or attempted to transfer substantially its

entire property or business, or has entered into any transaction the

effect of which is to merge substantially its entire property or

business in that of any other insurer without having first obtained

the written approval of the Insurance Commissioner.

6. Has willfully violated its charter or any law of this state.

7. Has an officer, director, or manager who has refused to be

examined under oath concerning its affairs, for which purpose the

Insurance Commissioner is hereby authorized to conduct and to

enforce by all appropriate and available means any such examination

under oath in any other state or territory of the United States, in

which any such officer, director, or manager may then presently be,

to the full extent permitted by the laws of such other state or

territory, this special authorization considered.

8. Has been the subject of an application for the appointment

of a receiver, trustee, custodian, or sequestrator of the insurer or

its property otherwise pursuant to the provisions of this code, but

only if such appointment has been made or is imminent and its effect

is or would be to oust the courts of this state of jurisdiction

hereunder.

9. Has consented to such an order through a majority of its

directors, stockholders, members or subscribers.

10. Has failed to pay a final judgment rendered against it in

this state upon any insurance contract issued or assumed by it,

within thirty (30) days after the judgment became final or within

thirty (30) days after the time for taking an appeal has expired, or

within thirty (30) days after dismissal of an appeal before final

termination, whichever date is the later.