{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-141.14","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-141.14","heading":"Annual financial statement filing - Fines","body":"A. In addition to the license fees provided in the Service\n\nWarranty Act for service warranty associations each service warranty\n\nassociation and insurer shall annually, on or before the first day\n\nof May, file with the Insurance Commissioner its annual financial\n\nstatement as of a date not earlier than three hundred sixty-five\n\n(365) days prior to the date submitted showing all gross written\n\nprovider fees or assessments received by it in connection with the\n\nissuance of service warranties in this state during the preceding\n\ncalendar year and other relevant financial information as deemed\n\nnecessary by the Commissioner. The financial statements required by\n\nthis subsection must be:\n\n1. Audited and prepared in accordance with statutory accounting\n\nprinciples if the applicant complies with the requirements of\n\nsubsection A of Section 141.6 of this title; or\n\n2. Verified under oath of at least two of its principal\n\nofficers and prepared in accordance with generally accepted\n\naccounting principles if the applicant utilizes an insurance policy\n\nwhich satisfies the requirements of subsection B of Section 141.6 of\n\nthis title.\n\nB. The Commissioner may levy a fine of up to One Hundred\n\nDollars ($100.00) a day for each day an association neglects to file\n\nits financial statement in the form and within the time provided by\n\nthe Service Warranty Act.\n\nC. In addition to the annual financial statements required to\n\nbe filed by subsection A of this section, the Commissioner may\n\nrequire of licensees, under oath and in the form prescribed by the\n\nCommissioner, quarterly statements or special reports which the\n\nCommissioner deems necessary for the proper supervision of licensees\n\nunder the Service Warranty Act.\n\nD. Provider fees and assessments received by associations and\n\ninsurers for service warranties shall not be subject to the premium\n\ntax provided in Section 624 of Title 36 of the Oklahoma Statutes,\n\nbut shall be subject to an administrative fee of equal to two\n\npercent (2%) of the gross provider fee received on the sale of all\n\nservice warranties issued in this state during the preceding\n\ncalendar quarter. The fees shall be paid quarterly to the Insurance\n\nCommissioner. However, licensed associations, licensed insurers and\n\nentities with applications for licensure as a service warranty\n\nassociation pending with the Insurance Department that have\n\ncontractual liability insurance in place as of March 31, 2009, from\n\nan insurer which satisfies the requirements of subsections B and C\n\nof Section 141.6 of this title and which covers one hundred percent\n\n(100%) of the claims exposure of the association or insurer on all\n\ncontracts written may elect to pay an annual administrative fee of\n\nThree Thousand Dollars ($3,000.00) in lieu of the two-percent\n\nadministrative fee.","path":["OK Code","Title 15"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os15.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"75ac7626c49b78f1f7d1da55f1083879d90693d40765f26a7b8db8f799f1b6a7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-141.13v2","next":"us-ok/okla.-stat.-tit.-15-15-141.15"},"notice":"GroundRules: Original legal text. Not legal advice."}