Okla. Stat. tit. 36, § 36-6470.24.1: Notice requirements

No captive insurance company shall voluntarily take any of the

following actions without providing the Insurance Commissioner at

least thirty (30) days prior written notice and receiving the

Commissioner's approval of any such action:

1. The dissolution of the captive insurance company;

2. A sale, exchange, lease, mortgage, assignment, pledge or

other transfer of or granting of a security interest in, all or

substantially all of the assets of the captive insurance company;

3. Incurring a material indebtedness by the captive insurance

company;

4. Any making of a material loan or other material extension of

credit by the captive insurance company;

5. Any material payment out of capital and surplus;

6. Any merger or consolidation to which the captive insurance

company is a constituent party;

7. Any conversion of the captive insurance company to another

business form;

8. Any transfer to or domestication in any jurisdiction by the

captive insurance company; or

9. Any amendment of the organizational documents of the captive

insurance company.

For purposes of this section, "material", in relation to

financial matters, means any transaction or series of related

transactions involving more than the lesser of five percent (5%) of

the captive insurance company's assets or twenty-five percent (25%)

of its capital and surplus. "Assets" and "capital and surplus"

shall be measured as of the most recent filed report required by

Section 6470.11 of Title 36 of the Oklahoma Statutes.