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

Okla. Stat. tit. 36, § 36-6461: Violations - Penalties

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

A. A risk retention group which violates any provision of the

Oklahoma Risk Retention Act shall be subject to fines and penalties

applicable to licensed insurers generally, including but not limited

to revocation of license and the authority to transact insurance

business in this state.

B. A risk retention group doing business in this state that is

not licensed pursuant to the Oklahoma Risk Retention Act shall be

considered an unauthorized insurer and shall be subject to the

provisions of applicable sections of the Insurance Code pertaining

to unauthorized insurers.

C. A purchasing group that is registered pursuant to the

Oklahoma Risk Retention Act and which violates any provision of said

act shall be subject to a fine of up to One Thousand Dollars

($1,000.00) and censure, suspension, or revocation of license or by

both such fine and licensure proceedings, after notice and hearing.

D. A purchasing group doing business in this state which is not

registered shall be considered an unauthorized insurer and subject

to the provisions of applicable sections of the Insurance Code

pertaining to unauthorized insurers.

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

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