{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1522","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1522","heading":"Definitions","body":"As used in this act:\n\n1. \"Adjusted RBC Report\" means an RBC report which has been\n\nadjusted by the Insurance Commissioner in accordance with subsection\n\nD of Section 1523 of this title;\n\n2. \"Corrective order\" means an order issued by the Commissioner\n\nspecifying corrective actions which the Commissioner has determined\n\nare required;\n\n3. \"Domestic insurer\" means any insurance company domiciled in\n\nthis state;\n\n4. \"Foreign insurer\" means any insurance company which has a\n\ncertificate of authority to do business in this state but is not\n\ndomiciled in this state;\n\n5. \"Life or health insurer\" means any insurance company with a\n\ncertificate of authority to write life or health insurance, or a\n\nlicensed property and casualty insurer writing only accident and\n\nhealth insurance;\n\n6. \"Negative trend\" means, with respect to a life or health\n\ninsurer or a fraternal benefit society, negative trend over a period\n\nof time, as determined in accordance with the \"Trend Test\n\nCalculation\" included in the Life or Fraternal RBC Instructions;\n\n7. \"NAIC\" means the National Association of Insurance\n\nCommissioners;\n\n8. \"Property and casualty insurer\" means any insurance company\n\nwith a certificate of authority to write property or casualty\n\ninsurance, and shall not include monoline mortgage guaranty\n\ninsurers, financial guaranty insurers, or title insurers;\n\n9. \"RBC\" means risk-based capital;\n\n10. \"RBC Instructions\" means the RBC Report including risk-\n\nbased capital instructions adopted by the NAIC, as adopted by the\n\nCommissioner by rule, and any amendments thereto adopted by the\n\nCommissioner by rule;\n\n11. \"RBC Level\" means an insurer's Company Action Level RBC,\n\nRegulatory Action Level RBC, Authorized Control Level RBC, or\n\nMandatory Control Level RBC, where:\n\na. \"Company Action Level RBC\" means, with respect to any\n\ninsurer, the product of 2.0 and its Authorized Control\n\nLevel RBC,\n\nb. \"Regulatory Action Level RBC\" means the product of 1.5\n\nand its Authorized Control Level RBC,\n\nc. \"Authorized Control Level RBC\" means the number\n\ndetermined under the risk-based capital formula in\n\naccordance with RBC Instructions, and\n\nd. \"Mandatory Control Level RBC\" means the product of\n\n0.70 and the Authorized Control Level RBC;\n\n12. \"RBC Plan\" means a comprehensive financial plan containing\n\nthe elements specified in subsection B of Section 1524 of this\n\ntitle;\n\n13. \"Revised RBC Plan\" means an RBC Plan which is rejected by\n\nthe Commissioner and which is revised by the insurer with or without\n\nthe Commissioner's recommendations;\n\n14. \"RBC Report\" means the report required in Section 1523 of\n\nthis title; and\n\n15. \"Total adjusted capital\" means the sum of:\n\na. an insurer's statutory capital and surplus as\n\ndetermined in accordance with the statutory accounting\n\napplicable to the annual financial statements required\n\nto be filed with the Commissioner, and\n\nb. such other items, if any, as the RBC Instructions, as\n\nadopted by rule by the Commissioner, may provide.","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":"9e016b83ecc139e2019120ab6d966b5dd26f8b437a2300d507e929d7393a8c26","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1521","next":"us-ok/okla.-stat.-tit.-36-36-1523"},"notice":"GroundRules: Original legal text. Not legal advice."}