{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1527","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1527","heading":"Mandatory Control Level Event","body":"A. \"Mandatory Control Level Event\" means any of the following\n\nevents:\n\n1. The filing of an RBC Report which indicates that the\n\ninsurer's Total Adjusted Capital is less than its Mandatory Control\n\nLevel RBC;\n\n2. Notification by the Commissioner to the insurer of an\n\nAdjusted RBC Report that indicates the event in paragraph 1 of this\n\nsubsection, provided the insurer does not challenge the Adjusted RBC\n\nReport under Section 1528 of this title; or\n\n3. If, pursuant to Section 1528 of this title, 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\nB. In the event of a Mandatory Control Level Event:\n\n1. With respect to a life insurer or fraternal benefit society,\n\nthe Commissioner may take the actions necessary to place the insurer\n\nunder regulatory control under Article 18 or 19 of the Insurance\n\nCode. In that event, the Mandatory Control Level Event is deemed\n\nsufficient grounds for the Commissioner to take action under Article\n\n18 or 19 of the Insurance Code, and the Commissioner shall have the\n\nrights, powers, and duties with respect to the insurer which are set\n\nforth in Article 18 or 19 of the Insurance Code. If the\n\nCommissioner takes actions 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; and\n\n2. With respect to a property and casualty insurer, the\n\nCommissioner may take the actions necessary to place the insurer\n\nunder regulatory control under Article 18 or 19 of the Insurance\n\nCode, or, in case of an insurer which is writing no business and\n\nwhich is running-off its existing business, may allow the insurer to\n\ncontinue its run-off under the supervision of the Commissioner. In\n\neither event, the Mandatory Control Level Event is deemed sufficient\n\ngrounds for the Commissioner to take action under Article 18 or 19\n\nof the Insurance Code and the Commissioner shall have the rights,\n\npowers, and duties with respect to the insurer which are set forth\n\nin Article 18 or 19 of the Insurance Code. If the Commissioner\n\ntakes actions pursuant to an Adjusted RBC Report, the insurer shall\n\nbe entitled to notice and opportunity for a hearing as required by\n\nthe provisions of Article 18 or 19 of the Insurance Code.","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":"7c619ecd7e249a9d3d6d7a413ea2e861ce020b1947c03158ce4df7f46b86f07d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1526","next":"us-ok/okla.-stat.-tit.-36-36-1528"},"notice":"GroundRules: Original legal text. Not legal advice."}