Okla. Stat. tit. 36, § 36-2009: Powers and duties of Commissioner
Where this section sits in the code
- OK Code
- Title 36
A. The Commissioner shall:
1. Notify the Oklahoma Property and Casualty Insurance Guaranty
Association Executive Director of the existence of an insolvent
insurer as soon as possible but not later than three (3) days after
notice of the determination is received. The Association shall be
entitled to a copy of a complaint seeking an order of liquidation
with a finding of insolvency against a member company at the same
time that the complaint is filed with a court of competent
jurisdiction; and
2. Provide the Association with a statement of the net direct
written premiums of each member insurer upon the request of the
board of directors.
B. The Commissioner may:
1. Suspend or revoke, after the notice and hearing, the
certificate of authority to transact insurance in this state of any
member insurer which fails to pay an assessment when due or fails to
comply with the plan of operation. As an alternative, the
Commissioner may levy a fine on any member insurer which fails to
pay an assessment when due. The fine shall not exceed five percent
(5%) of the unpaid assessment per month, except that no fine shall
be less than One Hundred Dollars ($100.00) per month;
2. Revoke the designation of any servicing facility if the
Commissioner finds claims are being handled unsatisfactorily; or
3. Examine or audit the Association.
C. Any final action or order of the Commissioner under the
Oklahoma Property and Casualty Insurance Guaranty Association Act
shall be subject to judicial review in a court of competent
jurisdiction.
Collected 2026-09-14T18:32:36Z. Source file · JSON