{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1106","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1106","heading":"Surplus lines - Brokers","body":"If insurance required to protect the interest of the insured for\n\nthe amount of insurance, coverage terms and solvency requirements of\n\nthe insured cannot be procured from admitted insurers after inquiry\n\nin the market available to the insurance producer, then insurance\n\nmay be procured from surplus lines insurers subject to the following\n\nconditions:\n\n1. The surplus lines insurer shall meet the requirements of the\n\nUnauthorized Insurers and Surplus Lines Insurance Act and the\n\nfollowing conditions:\n\na. the insurer has capital and surplus or its equivalent\n\nunder the laws of its domiciliary jurisdiction which\n\nequals the greater of:\n\n(1) the minimum capital and surplus requirements\n\nunder the laws of this state for nonadmitted\n\ninsurers, or\n\n(2) Fifteen Million Dollars ($15,000,000.00),\n\nb. the requirements of subparagraph a of this paragraph\n\nmay be satisfied by an insurer's possessing less than\n\nthe minimum capital and surplus upon an affirmative\n\nfinding of acceptability by the Insurance\n\nCommissioner. The finding shall be based upon such\n\nfactors as quality of management, capital and surplus\n\nof any parent company, company underwriting profit and\n\ninvestment income trends, market availability and\n\ncompany record and reputation within the industry. In\n\nno event shall the Insurance Commissioner make an\n\naffirmative finding of acceptability when the\n\nnonadmitted insurer's capital and surplus is less than\n\nFour Million Five Hundred Thousand Dollars\n\n($4,500,000.00), and\n\nc. the insurer, if an alien insurer, is listed on the\n\nNational Association of Insurance Commissioners\n\nNonadmitted Insurers Quarterly Listing; and\n\n2. The insurance shall be procured through a licensed surplus\n\nlines licensee or broker licensed in the insurer's home state. An\n\nOklahoma surplus lines license is required only where Oklahoma is\n\nthe home state of the insured.\n\nFor the purposes of carrying out the provisions of the\n\nNonadmitted and Reinsurance Reform Act of 2010, the Insurance\n\nCommissioner is authorized to utilize the national insurance\n\nproducer database of the National Association of Insurance\n\nCommissioners, or any other equivalent uniform national database,\n\nfor the licensure of an individual or entity as a surplus lines\n\nlicensee or broker and for renewal of such license.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"08e7d27d8c9823f1947dc73b8a018f8aab37c3d81ebe620011ddd7f569b0b7eb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1105","next":"us-ok/okla.-stat.-tit.-36-36-1106.2"},"notice":"GroundRules: Original legal text. Not legal advice."}