{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2027","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2027","heading":"Procedural rules and amendments","body":"A. 1. The Oklahoma Life and Health Insurance Guaranty\n\nAssociation shall submit to the Insurance Commissioner procedural\n\nrules and any amendments thereto necessary or suitable to assure the\n\nfair, reasonable and equitable administration of the Association.\n\nThe procedural rules and any amendments thereto shall become\n\neffective upon approval in writing by the Commissioner.\n\n2. If the Association fails to submit suitable procedural rules\n\nwithin one hundred eighty (180) days following the effective date of\n\nthis act or if at any time thereafter the Association fails to\n\nsubmit suitable amendments to the rules, the Commissioner shall,\n\nafter notice and hearing, adopt and promulgate such reasonable rules\n\nas are necessary to effectuate the provisions of the Oklahoma Life\n\nand Health Insurance Guaranty Association Act. Such rules shall\n\ncontinue in force until modified by the Commissioner or superseded\n\nby rules submitted by the Association and approved by the\n\nCommissioner. All member insurers shall comply with the procedural\n\nrules.\n\nB. The procedural rules shall, in addition to requirements\n\nenumerated elsewhere in the Oklahoma Life and Health Insurance\n\nGuaranty Association Act:\n\n1. Establish procedures for handling the assets of the\n\nAssociation;\n\n2. Establish regular places and times for meeting of the Board\n\nof Directors;\n\n3. Establish procedures for records to be kept of all financial\n\ntransactions of the Association, its agents, and the Board of\n\nDirectors;\n\n4. Establish the procedures whereby selections for the Board of\n\nDirectors will be made and submitted to the Commissioner;\n\n5. Establish any additional procedures for assessments under\n\nSection 2030 of this title; and\n\n6. Contain additional provisions necessary or proper for the\n\nexecution of the powers and duties of the Association.\n\nC. The procedural rules may provide that any or all powers and\n\nduties of the Association, except those under Section 2030 of this\n\ntitle, are delegated to a corporation, association or other\n\norganization which performs or will perform functions similar to\n\nthose of this Association, or its equivalent, in two or more states\n\nif there is a reciprocal agreement with such states to provide\n\nsimilar services. Such a corporation, association or organization\n\nshall be reimbursed for any payments made on behalf of the\n\nAssociation and shall be paid for the performance of any function of\n\nthe Association. A delegation of powers or duties under this\n\nsubsection shall take effect only with the approval of both the\n\nBoard and the Commissioner, and may be made only to a corporation,\n\nassociation or organization which extends protection not\n\nsubstantially less favorable and effective than that provided by\n\nthis act.","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":"f2c7281d6a87dcbfad37c73980bba712ce91df889a3eab1904b4280d245fee4a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2026","next":"us-ok/okla.-stat.-tit.-36-36-2028"},"notice":"GroundRules: Original legal text. Not legal advice."}