{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1901","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1901","heading":"Definitions","body":"For the purpose of Article 19 of the Oklahoma Insurance Code:\n\n1. \"Impairment\" or \"insolvency\" means the capital of a stock\n\ninsurer, or limited stock life, accident and health insurer, the net\n\nassets of a Lloyds association, or the surplus of a mutual or\n\nreciprocal insurer, shall be deemed to be impaired and the insurer\n\nshall be deemed to be insolvent, when such insurer shall not be\n\npossessed of assets at least equal to all liabilities and required\n\nreserves together with its total issued and outstanding capital\n\nstock if a stock insurer, the net assets if a Lloyds association, or\n\nthe minimum surplus if a mutual or reciprocal insurer required by\n\nthis Code to be maintained for the kind or kinds of insurance it is\n\nthen authorized to transact;\n\n2. \"Insurer\" means any person, firm, corporation, health\n\nmaintenance organizations, association or aggregation of persons\n\ndoing an insurance business and subject to the insurance supervisory\n\nauthority of, or to liquidation, rehabilitation, reorganization or\n\nconservation by the Insurance Commissioner or the equivalent\n\ninsurance supervisory official of another state;\n\n3. \"Delinquency proceeding\" means any proceeding commenced\n\nagainst an insurer pursuant to this article for the purpose of\n\nliquidating, rehabilitating, reorganizing or conserving such\n\ninsurer;\n\n4. \"State\" means any state of the United States and also the\n\nDistrict of Columbia and Puerto Rico;\n\n5. \"Foreign country\" means territory not in any state;\n\n6. \"Domiciliary state\" means the state in which an insurer is\n\nincorporated or organized, or in the case of an insurer incorporated\n\nor organized in a foreign country, the state in which such insurer,\n\nhaving become authorized to do business in such state, has at the\n\ncommencement of delinquency proceedings, the largest amount of its\n\nassets held in trust and assets held on deposit for the benefit of\n\nits policyholders or policyholders and creditors in the United\n\nStates, and any such insurer is deemed to be domiciled in such\n\nstate;\n\n7. \"Ancillary state\" means any state other than a domiciliary\n\nstate;\n\n8. \"Reciprocal state\" means any state other than this state\n\nthat has enacted a law that sets forth a scheme for the\n\nadministration of an insurer in receivership by the state's\n\ninsurance commissioner or comparable insurance regulatory official;\n\n9. \"General assets\" means all property, real, personal or\n\notherwise, not specifically mortgaged, pledged, deposited or\n\notherwise encumbered for the security or benefit of specified\n\npersons or a limited class or classes of persons, and as to such\n\nspecifically encumbered property the term includes all such property\n\nor its proceeds in excess of the amount necessary to discharge the\n\nsum or sums secured thereby. Assets held in trust and assets held\n\non deposit for the security or benefit of all policyholders or all\n\npolicyholders and creditors in the United States shall be deemed\n\ngeneral assets;\n\n10. \"Preferred claim\" means any claim with respect to which the\n\nlaw of the state or of the United States accords priority of\n\npayments from the general assets of the insurer;\n\n11. \"Special deposit claim\" means any claim secured by a\n\ndeposit made pursuant to statute for the security or benefit of a\n\nlimited class or classes of persons, but not including any general\n\nassets;\n\n12. \"Secured claim\" means any claim secured by mortgage, trust\n\ndeed, pledge, deposit as security, escrow, or otherwise, but not\n\nincluding special deposit claim or claims against general assets.\n\nThe term also includes claims which more than four (4) months prior\n\nto the commencement of delinquency proceedings in the state of the\n\ninsurer's domicile have become liens upon specific assets by reason\n\nof judicial process;\n\n13. \"Receiver\" means receiver, liquidator, rehabilitator, or\n\nconservator as the context may require; and\nincluding special deposit claim or claims against general assets.\n\nThe term also includes claims which more than four (4) months prior\n\nto the commencement of delinquency proceedings in the state of the\n\ninsurer's domicile have become liens upon specific assets by reason\n\nof judicial process;\n\n13. \"Receiver\" means receiver, liquidator, rehabilitator, or\n\nconservator as the context may require; and\n\n14. \"Qualified financial contract\" means a commodity contract,\n\nforward contract, repurchase agreement, securities contract, swap\n\nagreement, and any similar agreement the Commissioner determines by\n\nrule, regulation, resolution, or order to be a qualified financial\n\ncontract.","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":"c6451bf926bc22b4f6e024144bf56edd2e2ecf15f63c913102b60d8afb0802c8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1811","next":"us-ok/okla.-stat.-tit.-36-36-1902"},"notice":"GroundRules: Original legal text. Not legal advice."}