{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-309.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-309.2","heading":"Nature and frequency of examinations - Reports in lieu","body":"of examinations.\n\nA. The Insurance Commissioner or an examiner may conduct an\n\nexamination, including a financial and market conduct examination,\n\nunder Sections 309.1 through 309.7 of this title of any company as\n\noften as the Commissioner deems appropriate but shall at a minimum,\n\nconduct a financial examination of every domestic insurer licensed\n\nin this state not less frequently than once every five (5) years.\n\nThe Commissioner shall, at a minimum, conduct or cause to be\n\nconducted a financial examination of every foreign insurer licensed\n\nin this state not less frequently than once every five (5) years.\n\nThe Commissioner may accept examinations conducted by other states\n\non foreign insurers domiciled in such states pursuant to subsection\n\nD of this section. In scheduling and determining the nature, scope\n\nand frequency of the examinations, the Commissioner shall consider\n\nsuch matters as the results of financial statement analyses and\n\nratios, changes in management or ownership, actuarial opinions,\n\nreports of independent certified financial examiners or public\n\naccountants and other criteria as set forth in the Examiners'\n\nHandbook adopted by the National Association of Insurance\n\nCommissioners and in effect when the Commissioner exercises\n\ndiscretion under this subsection. The Commissioner may also make\n\nexaminations upon the request of one or more persons pecuniarily\n\ninterested therein, who shall make affidavit of their belief, with\n\nspecifications of their reasons therefor, that the company is in an\n\nunsound condition.\n\nB. The Commissioner may adopt rules setting forth criteria and\n\ninforming domestic insurers of those factors which may contribute to\n\nthe Commissioner requiring the financial examination of an insurer\n\nprior to the end of the five-year-examination requirement provided\n\nin subsection A of this section.\n\nC. For purposes of completing an examination of any company\n\nunder Sections 309.1 through 309.7 of this title, the Commissioner\n\nmay examine or investigate any person, or the business of any\n\nperson, insofar as such examination or investigation is, in the sole\n\ndiscretion of the Commissioner, necessary or material to the\n\nexamination of the company.\n\nD. In lieu of an examination under Sections 309.1 through 309.7\n\nof this title of any foreign or alien insurer licensed in this\n\nstate, the Commissioner may accept an examination report on such\n\ncompany as prepared by the insurance department for the company's\n\nstate of domicile or port-of-entry state if:\n\n1. The insurance department was at the time of the examination\n\naccredited under the National Association of Insurance\n\nCommissioners' Financial Regulation Standards and Accreditation\n\nProgram; or\n\n2. The examination is performed with the participation of one\n\nor more examiners who are employed by an accredited state insurance\n\ndepartment and who, after a review of the examination work papers\n\nand report, state under oath that the examination was performed in a\n\nmanner consistent with the standards and procedures required by\n\ntheir insurance department.\n\nE. The Commissioner may authorize any employee of the Insurance\n\nDepartment to exercise the Commissioner's authority under Sections\n\n309.1 through 309.7 of this title.","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":"fe5b28c82c0ecc771fbf1be2d6bb6ae953e0cae4bfdb78c40060338356193160","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-309.1","next":"us-ok/okla.-stat.-tit.-36-36-309.3"},"notice":"GroundRules: Original legal text. Not legal advice."}