{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-141.9","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-141.9","heading":"Revocation or suspension of license","body":"A. The license of any service warranty association may be\n\nrevoked or suspended, or the Insurance Commissioner may refuse to\n\nrenew any such license, if it is determined that the association has\n\nviolated any lawful rule or order of the Commissioner or any\n\nprovision of the Service Warranty Act, or if the association is\n\ndetermined to be insolvent or impaired.\n\nB. The license of any service warranty association shall be\n\nsuspended or revoked if it is determined that such association:\n\n1. Is in any condition as would render its further transaction\n\nof service warranties in this state hazardous or injurious to its\n\nwarranty holders or to the public;\n\n2. Has refused to be examined or to produce its accounts,\n\nrecords, and files for examination, or if any of its officers have\n\nrefused to give information with respect to its affairs or have\n\nrefused to perform any other legal obligation as to such\n\nexamination, when required by the Commissioner;\n\n3. Has failed to pay any final judgment rendered against it in\n\nthis state within sixty (60) days after the judgment became final;\n\n4. Has, without just cause, refused to pay proper claims\n\narising under its service warranties or, without just cause, has\n\ncompelled warranty holders to accept less than the amount due them,\n\nor to employ attorneys, or to bring suit against the association to\n\nsecure full payment or settlement of such claims;\n\n5. Is affiliated with and under the same general management or\n\ninterlocking directorate or ownership as another service warranty\n\nassociation which transacts direct warranties in this state without\n\nhaving a license; or\n\n6. Is using such methods or practices in the conduct of its\n\nbusiness as would render its further transaction of service\n\nwarranties in this state hazardous or injurious to its warranty\n\nholders or to the public.\n\nC. The Commissioner may at his or her discretion and without\n\nadvance notice or hearing immediately suspend the license of any\n\nservice warranty association if the Commissioner finds that one or\n\nmore of the following circumstances exist:\n\n1. The association is insolvent or impaired;\n\n2. The reserve account required by the Service Warranty Act is\n\nnot being maintained;\n\n3. A proceeding for receivership, conservatorship\n\nrehabilitation or any other delinquency proceeding regarding the\n\nassociation has been commenced in any state; or\n\n4. The financial condition or business practices of the\n\nassociation otherwise pose an imminent threat to the public health,\n\nsafety, or welfare of the residents of this state.\n\nD. A violation of the Service Warranty Act by an insurer is\n\ngrounds for suspension or revocation of the insurer's certificate of\n\nauthority in this state.","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":"11c57f44127ff30817b976e11a55f110a064aae87f2b54cd2f146ee4132a005f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-141.8","next":"us-ok/okla.-stat.-tit.-15-15-15"},"notice":"GroundRules: Original legal text. Not legal advice."}