{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1472","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1472","heading":"Definitions","body":"As used in this act:\n\n1. \"Actuary\" means a person who is a member in good standing of\n\nthe American Academy of Actuaries;\n\n2. \"Insurer\" means any person licensed pursuant to the Oklahoma\n\nInsurance Code to transact insurance;\n\n3. a. \"Managing General Agent\" or \"MGA\" means any person\n\nwho:\n\n(1) manages all or part of the insurance business of\n\nan insurer, including the management of a\n\nseparate division, department or underwriting\n\noffice, and\n\n(2) acts as an agent for such insurer, whether known\n\nas a managing general agent, manager or other\n\nsimilar term, and\n\n(3) directly or indirectly, with or without the\n\nauthority of the insurer, whether separately or\n\ntogether with affiliates, produces and\n\nunderwrites an amount of gross direct written\n\npremium equal to or greater than five percent\n\n(5%) of the policyholder surplus, as reported in\n\nthe last annual statement of the insurer in any\n\none quarter or year together with the following\n\nactivities related to the business produced:\n\n(a) adjusts or pays claims in excess of an\n\namount determined by the Insurance\n\nCommissioner, or\n\n(b) negotiates reinsurance on behalf of the\n\ninsurer.\n\nb. Notwithstanding subparagraph a of this paragraph, the\n\nfollowing persons shall not be considered to be\n\nmanaging general agents for the purpose of this act:\n\n(1) an employee of the insurer,\n\n(2) a U.S. Manager of the United States branch of an\n\nalien insurer,\n\n(3) an underwriting manager which, pursuant to\n\ncontract:\n\n(a) manages all the insurance operations of the\n\ninsurer,\n\n(b) is under common control with the insurer,\n\nsubject to the holding company regulatory\n\nact, and\n\n(c) whose compensation is not based on the\n\nvolume of premiums written, and\n\n(4) the attorney-in-fact authorized by and acting for\n\nthe subscribers of a reciprocal insurer or\n\ninterinsurance exchange under powers of an\n\nattorney;\n\n4. \"Underwrite\" means the authority to accept or reject risk on\n\nbehalf of the insurer.","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":"117ed3a19b1f0aa982d3e72ca47530d459b2a6ba7c9e1ad5c7d1f5ef71949af6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1471","next":"us-ok/okla.-stat.-tit.-36-36-1473"},"notice":"GroundRules: Original legal text. Not legal advice."}