{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2038","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2038","heading":"Recovery of distribution of insurer - Limitations","body":"A. If an order for liquidation or rehabilitation of a member\n\ninsurer domiciled in this state has been entered, the receiver\n\nappointed under such order shall have a right to recover on behalf\n\nof the member insurer, from any affiliate that controlled it, the\n\namount of distributions, other than stock dividends paid by the\n\nmember insurer on its capital stock, made at any time during the\n\nfive (5) years preceding the petition for liquidation or\n\nrehabilitation subject to the limitations of subsections B through D\n\nof this section.\n\nB. No such dividend shall be recoverable if the member insurer\n\nshows that when paid the distribution was lawful and reasonable, and\n\nthat the member insurer did not know and could not reasonably have\n\nknown that the distribution might adversely affect the ability of\n\nthe member insurer to fulfill its contractual obligations.\n\nC. Any person who was an affiliate that controlled the member\n\ninsurer at the time the distributions were paid shall be liable up\n\nto the amount of distributions he received. Any person who was an\n\naffiliate that controlled the member insurer at the time the\n\ndistributions were declared shall be liable up to the amount of\n\ndistributions he would have received if they have been paid\n\nimmediately. If two persons are liable with respect to the same\n\ndistributions, they shall be jointly and severally liable.\n\nD. The maximum amount recoverable under this subsection shall\n\nbe the amount needed in excess of all other available assets of the\n\ninsolvent insurer to pay the contractual obligations of the\n\ninsolvent insurer.\n\nE. If any person liable under subsection C of this section is\n\ninsolvent, all its affiliates that controlled it at the time the\n\ndividend was paid shall be jointly and severally liable for any\n\nresulting deficiency in the amount recovered from the insolvent\n\naffiliate.","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":"15036d1dfa26e35638d5a4d7789094657a134feac7bd58b482b55aaf4f073b36","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2037","next":"us-ok/okla.-stat.-tit.-36-36-2039"},"notice":"GroundRules: Original legal text. Not legal advice."}