{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1526","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1526","heading":"Authorized Control Level Event","body":"A. \"Authorized Control Level Event\" means any of the following\n\nevents:\n\n1. The filing of an RBC Report by the insurer which indicates\n\nthat the insurer's Total Adjusted Capital is greater than or equal\n\nto its Mandatory Control Level RBC but less than its Authorized\n\nControl Level RBC;\n\n2. The notification by the Insurance Commissioner to the\n\ninsurer of an Adjusted RBC Report that indicates the event in\n\nparagraph 1 of this subsection, provided the insurer does not\n\nchallenge the Adjusted RBC Report under Section 9 of this act;\n\n3. If, pursuant to Section 9 of this act, the insurer\n\nchallenges an Adjusted RBC Report that indicates the event in\n\nparagraph 1 of this subsection, notification by the Commissioner to\n\nthe insurer that the Commissioner has, after opportunity for a\n\nhearing, rejected the insurer's challenge;\n\n4. The failure of the insurer to respond, in a manner\n\nsatisfactory to the Commissioner, to a corrective order, provided\n\nthe insurer has not challenged the corrective order under Section 9\n\nof this act; or\n\n5. If the insurer has challenged a corrective order under\n\nSection 9 of this act and the Commissioner has, after opportunity\n\nfor a hearing, rejected the challenge or modified the corrective\n\norder, the failure of the insurer to respond, in a manner\n\nsatisfactory to the Commissioner, to the corrective order subsequent\n\nto rejection or modification by the Commissioner.\n\nB. In the event of an Authorized Control Level Event with\n\nrespect to an insurer, the Commissioner may:\n\n1. Take such actions as are required under Section 6 of this\n\nact regarding an insurer with respect to which a Regulatory Action\n\nLevel Event has occurred; or\n\n2. If the Commissioner deems it to be in the best interests of\n\nthe policyholders and creditors of the insurer and of the public,\n\ntake such actions as are necessary to cause the insurer to be placed\n\nunder regulatory control under Article 18 or 19 of the Insurance\n\nCode. In the event the Commissioner takes such actions, the\n\nAuthorized Control Level Event shall be deemed sufficient grounds\n\nfor the Commissioner to take action under Article 18 or 19 of the\n\nInsurance Code, and the Commissioner shall have the rights, powers,\n\nand duties with respect to the insurer as are set forth in Article\n\n18 or 19 of the Insurance Code. In the event the Commissioner takes\n\nactions under this paragraph pursuant to an Adjusted RBC Report, the\n\ninsurer shall be entitled to notice and opportunity for a hearing as\n\nrequired by the provisions of Article 18 or 19 of the Insurance\n\nCode.","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":"c06cfd00c947ca3ac627816dcfd379bf7e59eef27880f9e16f26fa3b0bede029","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1525","next":"us-ok/okla.-stat.-tit.-36-36-1527"},"notice":"GroundRules: Original legal text. Not legal advice."}