Okla. Stat. tit. 36, § 36-2031: Commissioner - Powers and duties
Where this section sits in the code
- OK Code
- Title 36
A. In addition to the duties and powers enumerated elsewhere in
this act, the Commissioner shall:
1. Upon request of the Board, provide the Association with a
statement of the premiums in the appropriate states for each member
insurer;
2. When an impairment is declared and the amount of the
impairment is determined, serve a demand upon the impaired insurer
to make good the impairment within a reasonable time. Notice to the
impaired insurer shall constitute notice to its shareholders, if
any. The failure of the insurer to promptly comply with such demand
shall not excuse the Association from the performance of its powers
and duties under this act.
If a foreign or alien member insurer is subject to a liquidation
proceeding in its domiciliary jurisdiction or state of entry, the
Commissioner shall be appointed conservator or shall be permitted to
initiate an ancillary receivership.
B. The Commissioner may suspend or revoke, after notice and
hearing, the certificate of authority to transact insurance business
in this state of any member insurer which fails to pay an assessment
when due or fails to comply with the procedural rules. As an
alternative, the Commissioner may levy a forfeiture on any member
insurer which fails to pay an assessment when due. Such forfeiture
shall not exceed five percent (5%) of the unpaid assessment per
month, but no forfeiture shall be less than One Hundred Dollars
($100.00) per month.
C. Any action of the Board or the Association may be appealed
to the Commissioner by any member insurer if such appeal is taken
within thirty (30) days of the action of the Board or Association.
Any final action or order of the Commissioner shall be subject to
judicial review in a court of competent jurisdiction.
Collected 2026-09-14T18:32:36Z. Source file · JSON