{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2128","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2128","heading":"Impairment of capital or assets","body":"A. If the capital stock or expendable surplus of a domestic\n\nstock insurer is impaired to an extent of less than twenty percent\n\n(20%) of the required capital stock or expendable surplus, or the\n\nnet surplus of a domestic mutual insurer is impaired to an extent of\n\nless than twenty percent (20%) of the minimum amount of surplus\n\nrequired of it by this Code for authority to transact the kinds of\n\ninsurance being transacted, the Commissioner shall serve notice upon\n\nthe insurer to make good the deficiency within sixty (60) days after\n\nservice of such notice.\n\nB. The deficiency may be made good in cash or in assets\n\neligible under this code for the investment of the insurer's funds;\n\nor if a stock insurer by reduction of the insurer's capital to an\n\namount not below the minimum required for the kinds of insurance\n\nthereafter to be transacted; or if a mutual insurer, by amendment of\n\nits certificate of authority to cover only such kind or kinds of\n\ninsurance for which the insurer has on deposit sufficient surplus.\n\nC. If the deficiency is not made good and proof thereof filed\n\nwith the Commissioner within such sixty-day period, the insurer\n\nshall be deemed insolvent and the Commissioner may institute\n\ndelinquency proceedings against it as authorized by this code. If\n\nsuch deficiency exists because of increased loss reserves required\n\nby the Insurance Commissioner, or because of disallowance by the\n\nCommissioner of certain assets or reduction of the value at which\n\ncarried in the insurer's accounts, the Commissioner may in his\n\ndiscretion and upon application and good cause shown, extend for not\n\nmore than an additional sixty (60) days the period within which such\n\ndeficiency may be so made good and such proof thereof so filed.\n\nD. If the Commissioner finds that the capital stock or\n\nexpendable surplus of a domestic stock insurer is impaired to an\n\nextent of more than twenty percent (20%) of the required capital\n\nstock or expendable surplus, or that the net surplus of a domestic\n\nmutual insurer is impaired to an extent of more than twenty percent\n\n(20%) of the minimum amount of surplus required of it by this code\n\nfor authority to transact the kinds of insurance being transacted,\n\nthe insurer shall be deemed insolvent and the Commissioner shall\n\nforthwith institute delinquency proceedings.","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":"5d39a9295434307b981628cb9db74e96a3f5241b8ee7021d2f29d608a1e77eb1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2127","next":"us-ok/okla.-stat.-tit.-36-36-2129"},"notice":"GroundRules: Original legal text. Not legal advice."}