Okla. Stat. tit. 36, § 36-3102: Deposit of security prior to doing business -

Qualifications - Issuance of certificates - Expiration date.

A. No company shall sell, or offer for sale, any motor club

service without first having deposited with the Commissioner the sum

of Fifty Thousand Dollars ($50,000.00), in cash or securities

approved by the Commissioner, or, in lieu thereof, a corporate

surety bond, approved by the Commissioner, in the form described by

the Commissioner, payable to the State of Oklahoma, in the sum of

One Hundred Thousand Dollars ($100,000.00), and conditioned upon the

faithful performance in the sale or rendering of motor club service

and payment of any fines or penalties levied against it for failure

to comply with the provisions of Section 3101 et seq. of this title.

Provided, however, that the aggregate liability of the surety for

all breaches of the conditions of the bond and for the payment of

all fines and penalties shall, in no event, exceed the amount of the

bond.

B. No Certificate of Authority shall be issued by the

Commissioner until the company has filed with him the following:

1. A formal application for the certificate in such form and

detail as the Commissioner requires, executed under oath by its

president or another principal officer of the company;

2. A certified copy of its charter or articles of incorporation

and its bylaws, if any;

3. A certificate from the Secretary of State, State of

Oklahoma, in the event that it is a domestic corporation, signifying

that the company is in compliance with the corporation laws of the

State of Oklahoma;

4. A copy of its latest financial statement, or report of

independent audit, as the Commissioner may require; or, in the event

that neither is available, its most recent audited and certified

operating statement and balance sheet. Any such certified operating

statement, audit or audited and certified operating statement and

balance sheet shall be verified by the person compiling or making

the same and by an executive officer of the applicant;

5. A certificate from its domiciliary state regulatory

authority, in the event that it is a foreign corporation, to be

executed not more than thirty (30) days before the filing of its

application, signifying that it is duly authorized to do motor club

business in that state;

6. An explanation of its plan of doing business and copies of

the following:

a. its application for membership,

b. the proposed membership certificate or identification

card and any proposed addendum thereto,

c. any individual insurance policy and any group master

policy and individual certificates thereunder to be

offered, and

d. any service contract to be issued; and

7. Such other information as the Commissioner may find

necessary in order to determine the applicant's qualifications.

C. No Certificate of Authority shall be issued by the

Commissioner until the company has:

1. Paid an initial filing fee of Two Hundred Fifty Dollars

($250.00) to the State Insurance Commissioner Revolving Fund,

pursuant to Section 307.3 of this title;

2. Paid an annual license fee of One Hundred Dollars ($100.00)

to the State Insurance Commissioner Revolving Fund, pursuant to

Section 307.3 of this title;

3. Had its name approved by the Commissioner under the

provisions of Sections 620 and 2104 of this title, the provisions of

which are hereby made applicable to motor clubs, after electronic

submission of its name request on a form prescribed by the

Commissioner;

4. Proved by affidavits of its officers, directors, managers

and individual owners of more than ten percent (10%), on a form

prescribed by the Commissioner, that it is not disqualified under

any provisions contained in Section 3101 et seq. of this title or

contained in the Insurance Code; and

5. Proved to the Commissioner's satisfaction that it is a

on a form prescribed by the

Commissioner;

4. Proved by affidavits of its officers, directors, managers

and individual owners of more than ten percent (10%), on a form

prescribed by the Commissioner, that it is not disqualified under

any provisions contained in Section 3101 et seq. of this title or

contained in the Insurance Code; and

5. Proved to the Commissioner's satisfaction that it is a

separate legal entity capable of being examined by the Commissioner

as provided in Section 3101 et seq. of this title.

D. Certificates of Authority issued hereunder shall expire

annually on July 1, unless sooner revoked or suspended, as

hereinafter provided.