{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1640","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1640","heading":"Confidentiality of documents and other information","body":"\n\nA. Documents, materials or other information in the possession\n\nor control of the Insurance Department that are obtained by or\n\ndisclosed to the Commissioner or any other person in the course of\n\nan examination or investigation made pursuant to Section 1637 of\n\nthis title and all information reported or provided to the Insurance\n\nDepartment pursuant to paragraphs 12 and 13 of subsection B of\n\nSection 1633 of this title, Section 1635 of this title, Section 1636\n\nof this title, and Section 1639 of this title are recognized by this\n\nstate as being proprietary and containing trade secrets and shall be\n\nconfidential by law and privileged, shall not be subject to open\n\nrecords, or freedom of information, shall not be subject to\n\nsubpoena, and shall not be subject to discovery or admissible in\n\nevidence in any private civil action. However, the Commissioner is\n\nauthorized to use the documents, materials or other information in\n\nthe furtherance of any regulatory or legal action brought as a part\n\nof the Commissioner's official duties. The Commissioner shall not\n\notherwise make the documents, materials or other information public\n\nwithout the prior written consent of the insurer to which it\n\npertains unless the Commissioner, after giving the insurer and its\n\naffiliates who would be affected thereby notice and opportunity to\n\nbe heard, determines that the interest of policyholders,\n\nshareholders or the public will be served by the publication\n\nthereof, in which event the Commissioner may publish all or any part\n\nin such manner as may be deemed appropriate.\n\n1. For purposes of the information reported and provided to the\n\nDepartment of Insurance pursuant to paragraph 2 of subsection L of\n\nSection 1635 of this title, the Commissioner shall maintain the\n\nconfidentiality of the group capital calculation and group capital\n\nratio produced within the calculation and any group capital\n\ninformation received from an insurance holding company supervised by\n\nthe Federal Reserve Board or any United States group wide\n\nsupervisor; and\n\n2. For purposes of the information reported and provided to the\n\nDepartment of Insurance pursuant to paragraph 3 of subsection L of\n\nSection 1635 of this title, the Commissioner shall maintain the\n\nconfidentiality of the Liquidity Stress Test results and supporting\n\ndisclosures and any Liquidity Stress Test information received from\n\nan insurance holding company supervised by the Federal Reserve Board\n\nand non-United-States group wide supervisors.\n\nB. Neither the Commissioner nor any person who received\n\ndocuments, materials or other information while acting under the\n\nauthority of the Commissioner or with whom such documents, materials\n\nor other information are shared pursuant to this act shall be\n\npermitted or required to testify in any private civil action\n\nconcerning any confidential documents, materials or information\n\nsubject to subsection A of this section.\n\nC. In order to assist in the performance of the Commissioner's\n\nduties, the Commissioner:\n\n1. May share documents, materials or other information,\n\nincluding the confidential and privileged documents, materials or\n\ninformation subject to subsection A of this section, including\n\nproprietary and trade secret documents and materials, with other\n\nstate, federal and international regulatory agencies, with the\n\nNational Association of Insurance Commissioners (NAIC) and its\n\naffiliates and subsidiaries, with any third-party consultants\n\ndesignated by the Commissioner, and with state, federal and\n\ninternational law enforcement authorities, including members of any\n\nsupervisory college described in Section 1638 of this title,\n\nprovided that the recipient agrees in writing to maintain the\n\nconfidentiality and privileged status of the document, material or\n\nother information, and has verified in writing the legal authority\n\nto maintain confidentiality;\nommissioner, and with state, federal and\n\ninternational law enforcement authorities, including members of any\n\nsupervisory college described in Section 1638 of this title,\n\nprovided that the recipient agrees in writing to maintain the\n\nconfidentiality and privileged status of the document, material or\n\nother information, and has verified in writing the legal authority\n\nto maintain confidentiality;\n\n2. Notwithstanding paragraph 1 of this subsection, may only\n\nshare confidential and privileged documents, material or information\n\nreported pursuant to paragraph 1 of subsection L of Section 1635 of\n\nthis title with Commissioners of states having statutes or\n\nregulations substantially similar to subsection A of this section\n\nand who have agreed in writing not to disclose such information;\n\n3. May receive documents, materials or information, including\n\notherwise confidential and privileged documents, materials or\n\ninformation, including proprietary and trade-secret information,\n\nfrom the NAIC and its affiliates and subsidiaries and from\n\nregulatory and law enforcement officials of other foreign or\n\ndomestic jurisdictions, and shall maintain as confidential or\n\nprivileged any document, material or information received with\n\nnotice or the understanding that it is confidential or privileged\n\nunder the laws of the jurisdiction that is the source of the\n\ndocument, material or information; and\n\n4. Shall enter into written agreements with the NAIC and any\n\nthird-party consultant designated by the Commissioner governing\n\nsharing and use of information provided pursuant to this act\n\nconsistent with this subsection that shall:\n\na. specify procedures and protocols regarding the\n\nconfidentiality and security of information shared\n\nwith the NAIC or a third-party consultant designated\n\nby the Commissioner pursuant to this act, including\n\nprocedures and protocols for sharing by the NAIC with\n\nother state, federal or international regulators. The\n\nagreement shall provide that the recipient agrees in\n\nwriting to maintain the confidentiality and privileged\n\nstatus of the documents, materials or other\n\ninformation and has verified in writing the legal\n\nauthority to maintain such confidentiality,\n\nb. specify that ownership of information shared with the\n\nNAIC or a third-party consultant pursuant to this act\n\nremains with the Commissioner and the NAIC's or a\n\nthird-party consultant's, as designated by the\n\nCommissioner, use of the information is subject to the\n\ndirection of the Commissioner,\n\nc. excluding documents, material or information reported\n\npursuant to paragraph 3 of subsection L of Section\n\n1635 of this title, prohibit the NAIC or third-party\n\nconsultant designated by the Commissioner from storing\n\nthe information shared pursuant to this act in a\n\npermanent database after the underlying analysis is\n\ncompleted,\n\nd. require prompt notice to be given to an insurer whose\n\nconfidential information in the possession of the NAIC\n\nor a third-party consultant designated by the\n\nCommissioner pursuant to this act is subject to a\n\nrequest or subpoena to the NAIC or a third-party\n\nconsultant designated by the Commissioner for\n\ndisclosure or production, and\n\ne. require the NAIC or a third-party consultant\n\ndesignated by the Commissioner to consent to\n\nintervention by an insurer in any judicial or\n\nadministrative action in which the NAIC or a third-\n\nparty consultant designated by the Commissioner may be\n\nrequired to disclose confidential information about\n\nthe insurer shared with the NAIC or a third-party\n\nconsultant designated by the Commissioner pursuant to\n\nthis act.\n\nf. for documents, material or information reported\n\npursuant to paragraph 3 of subsection L of Section\n\n1635 of this title, in the case of an agreement\n\ninvolving a third-party consultant, provide for\n\nnotification of the identity of the consultant to the\n\napplicable insurers.\n\nD. The sharing of information by the Commissioner pursuant to\ntant designated by the Commissioner pursuant to\n\nthis act.\n\nf. for documents, material or information reported\n\npursuant to paragraph 3 of subsection L of Section\n\n1635 of this title, in the case of an agreement\n\ninvolving a third-party consultant, provide for\n\nnotification of the identity of the consultant to the\n\napplicable insurers.\n\nD. The sharing of information by the Commissioner pursuant to\n\nthis act shall not constitute a delegation of regulatory authority\n\nor rulemaking, and the Commissioner is solely responsible for the\n\nadministration, execution and enforcement of the provisions of this\n\nact.\n\nE. No waiver of any applicable privilege or claim of\n\nconfidentiality in the documents, materials or information shall\n\noccur as a result of disclosure to the Commissioner under this\n\nsection or as a result of sharing as authorized in subsection C of\n\nthis section.\n\nF. Documents, materials or other information in the possession\n\nor control of the NAIC or a third-party consultant designated by the\n\nCommissioner pursuant to this act shall be confidential by law and\n\nprivileged, shall not be subject to open records or freedom of\n\ninformation, shall not be subject to subpoena, and shall not be\n\nsubject to discovery or admissible in evidence in any private civil\n\naction.\n\nG. The group capital calculation and resulting group capital\n\nratio required under paragraph 2 of subsection L of Section 1635 of\n\nthis title and the Liquidity Stress Test along with its results and\n\nsupporting disclosures required under paragraph 3 of subsection L of\n\nSection 1635 of this title are regulatory tools for assessing group\n\nrisks and capital adequacy and group liquidity risks, respectively,\n\nand are not intended as a means to rank insurers or insurance\n\nholding company systems generally. Therefore, except as otherwise\n\nmay be required under the provisions of this title, the making,\n\npublishing, disseminating, circulating or placing before the public,\n\nor causing directly or indirectly to be made, published,\n\ndisseminated, circulated or placed before the public in a newspaper,\n\nmagazine or other publication, or in the form of a notice, circular,\n\npamphlet, letter or poster, or over any radio or television station\n\nor any electronic means of communication available to the public, or\n\nin any other way as an advertisement, announcement or statement\n\ncontaining a representation or statement with regard to the group\n\ncapital calculation, group capital ratio, the Liquidity Stress Test\n\nresults, or supporting disclosures for the Liquidity Stress Test of\n\nany insurer or any insurer group, or of any component derived in the\n\ncalculation by an insurer, broker, or other person engaged in any\n\nmanner in the insurance business would be misleading and is\n\ntherefore prohibited; provided however, that if any materially false\n\nstatement with respect to the group capital calculation, resulting\n\ngroup capital ratio, an inappropriate comparison of any amount to an\n\ninsurer's or insurance group's group capital calculation or\n\nresulting group capital ratio, Liquidity Stress Test result,\n\nsupporting disclosures for the Liquidity Stress Test, or an\n\ninappropriate comparison of any amount to an insurer's or insurance\n\ngroup's Liquidity Stress Test result or supporting disclosures is\n\npublished in any written publication and the insurer is able to\n\ndemonstrate to the Commissioner with substantial proof the falsity\n\nof such statement or the inappropriateness, as the case may be, then\n\nthe insurer may publish announcements in a written publication if\n\nthe sole purpose of the announcement is to rebut the materially\n\nfalse statement.","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":"59158765780cc45ef002a59a29edddfcc1025050d493ecb31924f01673ccee8f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1639","next":"us-ok/okla.-stat.-tit.-36-36-1641"},"notice":"GroundRules: Original legal text. Not legal advice."}