{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1905","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1905","heading":"Grounds for rehabilitation of domestic insurers","body":"The Insurance Commissioner may apply to the court for an order\n\nappointing the Commissioner as receiver of and directing the\n\nCommissioner to rehabilitate a domestic insurer upon one or more of\n\nthe following grounds. That the insurer:\n\n1. Is impaired or insolvent.\n\n2. Is in a condition such that the continued operation would be\n\nhazardous to the policyholders, the creditors of the insurer, or the\n\ngeneral public.\n\n3. Has refused to submit its books, records, accounts or\n\naffairs to reasonable examination by the Insurance Commissioner.\n\n4. Has failed to comply with an order of the Insurance\n\nCommissioner to make good an impairment of capital or surplus or\n\nboth.\n\n5. Has transferred or attempted to transfer substantially its\n\nentire property or business, or has entered into any transaction the\n\neffect of which is to merge substantially its entire property or\n\nbusiness in that of any other insurer without having first obtained\n\nthe written approval of the Insurance Commissioner.\n\n6. Has willfully violated its charter or any law of this state.\n\n7. Has an officer, director, or manager who has refused to be\n\nexamined under oath concerning its affairs, for which purpose the\n\nInsurance Commissioner is hereby authorized to conduct and to\n\nenforce by all appropriate and available means any such examination\n\nunder oath in any other state or territory of the United States, in\n\nwhich any such officer, director, or manager may then presently be,\n\nto the full extent permitted by the laws of such other state or\n\nterritory, this special authorization considered.\n\n8. Has been the subject of an application for the appointment\n\nof a receiver, trustee, custodian, or sequestrator of the insurer or\n\nits property otherwise pursuant to the provisions of this code, but\n\nonly if such appointment has been made or is imminent and its effect\n\nis or would be to oust the courts of this state of jurisdiction\n\nhereunder.\n\n9. Has consented to such an order through a majority of its\n\ndirectors, stockholders, members or subscribers.\n\n10. Has failed to pay a final judgment rendered against it in\n\nthis state upon any insurance contract issued or assumed by it,\n\nwithin thirty (30) days after the judgment became final or within\n\nthirty (30) days after the time for taking an appeal has expired, or\n\nwithin thirty (30) days after dismissal of an appeal before final\n\ntermination, whichever date is the later.","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":"ae00316738153c0e7c8d1d9cbc530e70c746ee909bab4d42cd870a7e2e832d0b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1904","next":"us-ok/okla.-stat.-tit.-36-36-1906"},"notice":"GroundRules: Original legal text. Not legal advice."}