{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-141.7","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-141.7","heading":"Application for license - Investigation of applicant -","body":"Audited financial statements.\n\nA. An application for license as a service warranty association\n\nshall be made to, and filed with, the Insurance Commissioner on\n\nprinted forms as prescribed and furnished by the Insurance\n\nCommissioner.\n\nB. In addition to information relative to its qualifications as\n\nrequired under Section 141.5 of this title, the Commissioner may\n\nrequire that the application show:\n\n1. The location of the home office of the applicant;\n\n2. The name and residence address of each director or officer\n\nof the applicant; and\n\n3. Other pertinent information as may be required by the\n\nCommissioner.\n\nC. The Commissioner may require that the application, when\n\nfiled, be accompanied by:\n\n1. A copy of the articles of incorporation of the applicant,\n\ncertified by the public official having custody of the original, and\n\na copy of the bylaws of the applicant, certified by the chief\n\nexecutive officer of the applicant;\n\n2. A copy of the most recent financial statement of the\n\napplicant, which must be:\n\na. audited if the applicant complies with the\n\nrequirements of subsection A of Section 141.6 of this\n\ntitle, or\n\nb. verified under oath of at least two of its principal\n\nofficers if the applicant utilizes one or more\n\ninsurance policies that satisfy the requirements of\n\nsubsection B of Section 141.6 of this title; and\n\n3. A license fee as required pursuant to Section 141.4 of this\n\ntitle.\n\nD. Upon completion of the application for license, the\n\nCommissioner shall examine the application and make such further\n\ninvestigation of the applicant as the Commissioner deems advisable.\n\nIf the Commissioner finds that the applicant is qualified, the\n\nCommissioner shall issue to the applicant a license as a service\n\nwarranty association. If the Commissioner does not find the\n\napplicant to be qualified the Commissioner shall refuse to issue the\n\nlicense and shall give the applicant written notice of the refusal,\n\nsetting forth the grounds of the refusal.\n\nE. 1. Any entity that claims one or more of the exclusions\n\nfrom the definition of service warranty provided in paragraph 17 of\n\nSection 141.2 of this title shall file audited financial statements\n\nand other information as requested by the Commissioner to document\n\nand verify that the contracts of the entity are not included within\n\nthe definition of service warranty. Financial statements are not\n\nrequired to be filed by an entity claiming one of the exclusions set\n\nforth in subparagraphs a and b of paragraph 17 of Section 141.2 of\n\nthis title.\n\n2. Any entity that begins claiming an exclusion exemption as\n\nprovided by paragraph 17 of Section 141.2 of this title shall make\n\nthe filing required by subsection A of this section prior to\n\nconducting or continuing business in this state.\n\n3. Any entity approved for an exclusion exemption as provided\n\nby paragraph 17 of Section 141.2 of this title may be required by\n\nthe Commissioner to provide subsequent information ascertained by\n\nthe Commissioner to be necessary to determine continued\n\nqualification for an exclusion exemption as provided by paragraph 17\n\nof Section 141.2 of this title. Financial statements shall not be\n\nrequired to be filed by an entity claiming one of the exclusions set\n\nforth in subparagraphs a and b of paragraph 17 of Section 141.2 of\n\nthis title.\n\n4. Other information requested by the Commissioner may include,\n\nbut is not limited to, SEC filings, audited financial statements of\n\naffiliates, and organizational data and organizational charts.\n\nFinancial statements shall not be required to be filed by an entity\n\nclaiming one of the exclusions set forth in subparagraphs a and b of\n\nparagraph 17 of Section 141.2 of this title.","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":"634f599ff33ecf8ef62692b0ea26f25c13db363846760d52657a70a51f73f7e9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-141.6","next":"us-ok/okla.-stat.-tit.-15-15-141.8"},"notice":"GroundRules: Original legal text. Not legal advice."}