{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1445","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1445","heading":"Fiduciary capacity and duties of administrator","body":"A. All insurance charges or premiums collected by an\n\nadministrator for an insurer or trust and all return premiums\n\nreceived from the insurer or trust shall be held by the\n\nadministrator in a fiduciary capacity. These funds shall be\n\nimmediately remitted to the person entitled to the funds or shall be\n\ndeposited promptly in a fiduciary bank account established and\n\nmaintained by the administrator.\n\nB. If charges or premiums deposited in a fiduciary account have\n\nbeen collected for more than one insurer or trust, the administrator\n\nshall keep records showing the deposits to and withdrawals from the\n\naccount for each insurer or trust. The administrator, upon request\n\nof an insurer or trust, shall furnish copies of the records\n\npertaining to deposits to and withdrawals from the account for that\n\ninsurer or trust.\n\nC. The administrator shall not pay any claim by withdrawals\n\nfrom a fiduciary account unless provisions for said withdrawals are\n\nincluded in the written agreement between the insurer or trust and\n\nthe administrator. The written agreement shall authorize\n\nwithdrawals by the administrator from the fiduciary account only\n\nfor:\n\n1. Remittance to an insurer or trust entitled to a remittance;\n\nor\n\n2. Deposit in an account maintained in the name of an insurer\n\nor trust; or\n\n3. Transfer to and deposit in an account established for\n\npayment of claims, as provided for by subsection D of this section;\n\nor\n\n4. Payment to a group policyholder for remittance to the\n\ninsurer or trust entitled to such remittance; or\n\n5. Payment of commission, fees, or charges to the\n\nadministrator; or\n\n6. Remittance of return premiums to the person entitled to such\n\nreturn premiums.\n\nD. All claims paid by the administrator from funds collected on\n\nbehalf of the insurer or trust shall be paid on drafts, checks or\n\nelectronic payment authorized by the insurer or trust.","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":"23237ebce7ad4dccd93f05b6c5400aacde8511f93f79d8592203ae634aa365ca","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1444","next":"us-ok/okla.-stat.-tit.-36-36-1446"},"notice":"GroundRules: Original legal text. Not legal advice."}