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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 36, § 36-2930: Impaired reciprocals

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Where this section sits in the code
  1. OK Code
  2. Title 36

A. If the assets of a reciprocal insurer are at any time

insufficient to discharge its liabilities, other than any liability

on account of funds contributed by the attorney or others and to

maintain the required surplus, its attorney shall forthwith make up

the deficiency or levy an assessment upon the subscribers for the

amount needed to make up the deficiency; but subject to the

limitations set forth in the power of attorney or policy.

B. If the attorney fails to make up such deficiency or to make

the assessment within thirty (30) days after the Insurance

Commissioner orders him to do so, or if the deficiency is not fully

made up within sixty (60) days after the date the assessment was

made, the insurer shall be deemed insolvent and shall be proceeded

against as authorized by this Code.

C. If liquidation of such an insurer is ordered, an assessment

shall be levied upon the subscribers for such an amount, subject to

limits as provided by this article, as the Insurance Commissioner

determines to be necessary to discharge all liabilities of the

insurer, exclusive of any funds contributed by the attorney or other

persons, but including the reasonable cost of the liquidation.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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