{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1802","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1802","heading":"Definitions","body":"\n\nAs used in Article 18 of the Insurance Code, the following words\n\nand terms set forth below shall have the meanings ascribed to them\n\nunless the context otherwise indicates:\n\n1. \"Commissioner\" means the Insurance Commissioner of this\n\nstate;\n\n2. \"Insurer\" is a person, organization, association or company,\n\nauthorized or unauthorized, admitted or nonadmitted, acting as an\n\ninsurer, or as principal or agent of an insurer, including any\n\ndomestic, foreign or alien insurer, as defined in Article 6 of the\n\nInsurance Code, and including stock companies, reciprocals or\n\ninsurance exchanges, Lloyds Associations, fraternal benefit\n\nsocieties, stipulated premium companies, and mutual companies of all\n\nkinds, including statewide mutual assessment corporations, local\n\nmutual aids, burial associations, county mutual insurance companies\n\nand farm mutual insurance companies, and health maintenance\n\norganizations;\n\n3. \"Insolvent\" or \"insolvency\" means any actual or threatened\n\ninsurer delinquency including, but not limited to, any one or more\n\nof the following circumstances:\n\na. an insurer's required surplus or capital is impaired\n\nto an extent prohibited by law,\n\nb. an insurer continues to write new business when it is\n\nnot possessed of the surplus or capital required of it\n\nby law,\n\nc. the business of any such insurer is being conducted\n\nfraudulently,\n\nd. any such insurer attempts to dissolve or liquidate\n\nwithout first having made provisions, satisfactory to\n\nthe Commissioner, for liabilities arising from\n\npolicies of insurance issued by such insurer; or\n\ne. the insurer has made investments in violation of the\n\nInsurance Code or has knowingly over-valued insurer's\n\nassets;\n\n4. \"Exceeded its powers\" includes, but is not limited to, the\n\nfollowing circumstances:\n\na. an insurer's refusal to permit examination of its\n\nbooks, papers, accounts, records or affairs by the\n\nCommissioner, his or her deputy or duly-commissioned\n\nexaminers; or if such insurer being organized in the\n\nState of Oklahoma removes from the state such books,\n\npapers, accounts or records necessary for an\n\nexamination of such insurer,\n\nb. an insurer's failure to promptly answer inquiries\n\nauthorized by Section 1905(6) of this title,\n\nc. an insurer's neglect or refusal to observe an order of\n\nthe Commissioner to make good, within the time\n\nprescribed by law, any prohibited deficiency in its\n\ncapital or surplus,\n\nd. an insurer, without first obtaining written approval\n\nof the Commissioner, by contract or otherwise:\n\n(1) totally reinsuring its entire outstanding\n\nbusiness, or\n\n(2) merging or consolidating substantially its entire\n\nproperty or business with another approved\n\ninsurer, or\n\ne. an insurer continuing to write business after its\n\nlicense has been revoked or suspended; and\n\n5. \"Consent\" means any agreement by the insurer to either\n\nsupervision or conservatorship.","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":"b37fe659f8b35163c7f86588561cd4bfbb0d6bee8484fb710358ab28af14d05e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1801","next":"us-ok/okla.-stat.-tit.-36-36-1803"},"notice":"GroundRules: Original legal text. Not legal advice."}