{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2204","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2204","heading":"Statements and reports – Taxes, fees and penalties","body":"A. A medical professional liability trust shall file the\n\nfollowing items with the Commissioner:\n\n1. Within forty-five (45) days after the end of each of the\n\nfirst three quarterly periods of each fiscal year, a statement of\n\nthe assets and liabilities of the trust as of the end of the\n\nquarterly period, a statement of the revenue and expenditures of the\n\ntrust, and a statement of the changes in corpus of the trust for the\n\nperiod, in each case accompanied by a certificate to the effect that\n\nthe statements were prepared from the official books and records of\n\nthe trust;\n\n2. Within ninety (90) days after the end of each fiscal year, a\n\nstatement of the assets and liabilities of the trust as of the end\n\nof that year, a statement of the revenue and expenditures of the\n\ntrust, and a statement of the changes in corpus of the trust for\n\nthat year, in each case accompanied by a certificate signed by a\n\nfirm of independent certified public accountants indicating that the\n\nfirm has conducted an audit of those statements in accordance with\n\ngenerally accepted auditing standards and indicating the results of\n\nthe audit;\n\n3. The independently audited annual financial statement of the\n\ntrust by June 1 of each year;\n\n4. The closed claim reports as are required pursuant to\n\nSections 6810 through 6816 of Title 36 of the Oklahoma Statutes;\n\n5. Rates and forms within thirty (30) days after issuance of\n\nthe first policy and within thirty (30) days after any changes to\n\nthe previously filed rates and forms; and\n\n6. Any amendment to the trust instrument within thirty (30)\n\ndays of making the amendment.\n\nB. A trust shall, annually, on or before the first day of\n\nMarch, report under oath to the Commissioner, the total amount of\n\ndirect written consideration received from the membership during the\n\npreceding calendar year, or since the last return of such\n\nconsiderations was made by such trust.\n\n1. A trust shall pay to the Department, on or before March 1,\n\nan annual tax on all direct written considerations, after all\n\nreturned considerations are deducted for the privileges of having\n\nwritten, continued and/or serviced contracts of indemnity except\n\nconsiderations paid by any governmental agency or instrumentality.\n\nThe rate of taxation shall be two and twenty-five one-hundredths\n\npercent (2.25%). If any trust fails to remit such taxes in a timely\n\nmanner, it shall remain liable therefor together with interest\n\nthereon at an annual rate equal to the average United States\n\nTreasury Bill rate of the preceding calendar year as certified by\n\nthe State Treasurer on the first regular business day in January of\n\neach year, plus four (4) percentage points.\n\n2. For any trust taxed pursuant to this section, the annual tax\n\nshall be in lieu of all other state taxes or fees, except the taxes\n\nand fees of any subdivision or municipality of the state and except\n\nad valorem taxes. Any trust failing to make such returns and\n\npayments promptly and correctly shall forfeit and pay to the\n\nCommissioner, in addition to the amount of said taxes and fees and\n\ninterest, the sum of Five Hundred Dollars ($500.00) or an amount\n\nequal to one percent (1%) of the unpaid amount, whichever is\n\ngreater; and the trust so failing or neglecting for sixty (60) days\n\nshall thereafter be debarred from transacting any business in this\n\nstate until said taxes, fees and penalties are fully paid.\n\n3. All taxes, fees and penalties collected under this section\n\nshall be reported and disbursed by the Commissioner and appropriated\n\npursuant to the provisions of Section 312.1 of Title 36 of the\n\nOklahoma Statutes.","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":"e9eaa8842983f6122180dc39f389bc453d263cad51d969b38760c4e0174934b0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2203","next":"us-ok/okla.-stat.-tit.-36-36-2205"},"notice":"GroundRules: Original legal text. Not legal advice."}