{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2036","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2036","heading":"Assets of impaired or insolvent insurer - Association as","body":"creditor - Payment of policies and contractual obligations.\n\nA. For the purpose of carrying out its obligations under the\n\nOklahoma Life and Health Insurance Guaranty Association Act, the\n\nOklahoma Life and Health Insurance Guaranty Association shall be\n\ndeemed to be a creditor of the impaired or insolvent insurer to the\n\nextent of assets attributable to covered policies reduced by any\n\namounts to which the Association is entitled as subrogee pursuant to\n\nsubsection K of Section 2028 of this title. Assets of the impaired\n\nor insolvent insurer attributable to covered policies shall be used\n\nto continue all covered policies and pay all contractual obligations\n\nof the impaired or insolvent insurer as required by the Oklahoma\n\nLife and Health Insurance Guaranty Association Act. Assets\n\nattributable to covered policies or contracts, as used in this\n\nsubsection, are that proportion of the assets that the reserves\n\nwhich should have been established for such policies or contracts\n\nbear to the reserves which should have been established for all\n\npolicies of insurance or health benefit plans written by the\n\nimpaired or insolvent insurer.\n\nB. As a creditor of the impaired or insolvent insurer as\n\nestablished in subsection A of this section and consistent with\n\nSection 1927.1 of this title, the Association and other similar\n\nassociations shall be entitled to receive a disbursement of assets\n\nout of the marshaled assets, from time to time as the assets become\n\navailable to reimburse it, as a credit against contractual\n\nobligations under this act. If the liquidator has not, within one\n\nhundred twenty (120) days of a final determination of insolvency of\n\na member insurer by the receivership court, made an application to\n\nthe court for the approval of a proposal to disburse assets out of\n\nmarshaled assets to guaranty associations having obligations because\n\nof the insolvency, then the Association shall be entitled to make\n\napplication to the receivership court for approval of its own\n\nproposal to disburse these assets.","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":"c1765f5a95184764a122787dde17e81020ec56cac0ecc224ce724b3e4490101f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2035","next":"us-ok/okla.-stat.-tit.-36-36-2037"},"notice":"GroundRules: Original legal text. Not legal advice."}