{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-3102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-3102","heading":"Deposit of security prior to doing business -","body":"Qualifications - Issuance of certificates - Expiration date.\n\nA. No company shall sell, or offer for sale, any motor club\n\nservice without first having deposited with the Commissioner the sum\n\nof Fifty Thousand Dollars ($50,000.00), in cash or securities\n\napproved by the Commissioner, or, in lieu thereof, a corporate\n\nsurety bond, approved by the Commissioner, in the form described by\n\nthe Commissioner, payable to the State of Oklahoma, in the sum of\n\nOne Hundred Thousand Dollars ($100,000.00), and conditioned upon the\n\nfaithful performance in the sale or rendering of motor club service\n\nand payment of any fines or penalties levied against it for failure\n\nto comply with the provisions of Section 3101 et seq. of this title.\n\nProvided, however, that the aggregate liability of the surety for\n\nall breaches of the conditions of the bond and for the payment of\n\nall fines and penalties shall, in no event, exceed the amount of the\n\nbond.\n\nB. No Certificate of Authority shall be issued by the\n\nCommissioner until the company has filed with him the following:\n\n1. A formal application for the certificate in such form and\n\ndetail as the Commissioner requires, executed under oath by its\n\npresident or another principal officer of the company;\n\n2. A certified copy of its charter or articles of incorporation\n\nand its bylaws, if any;\n\n3. A certificate from the Secretary of State, State of\n\nOklahoma, in the event that it is a domestic corporation, signifying\n\nthat the company is in compliance with the corporation laws of the\n\nState of Oklahoma;\n\n4. A copy of its latest financial statement, or report of\n\nindependent audit, as the Commissioner may require; or, in the event\n\nthat neither is available, its most recent audited and certified\n\noperating statement and balance sheet. Any such certified operating\n\nstatement, audit or audited and certified operating statement and\n\nbalance sheet shall be verified by the person compiling or making\n\nthe same and by an executive officer of the applicant;\n\n5. A certificate from its domiciliary state regulatory\n\nauthority, in the event that it is a foreign corporation, to be\n\nexecuted not more than thirty (30) days before the filing of its\n\napplication, signifying that it is duly authorized to do motor club\n\nbusiness in that state;\n\n6. An explanation of its plan of doing business and copies of\n\nthe following:\n\na. its application for membership,\n\nb. the proposed membership certificate or identification\n\ncard and any proposed addendum thereto,\n\nc. any individual insurance policy and any group master\n\npolicy and individual certificates thereunder to be\n\noffered, and\n\nd. any service contract to be issued; and\n\n7. Such other information as the Commissioner may find\n\nnecessary in order to determine the applicant's qualifications.\n\nC. No Certificate of Authority shall be issued by the\n\nCommissioner until the company has:\n\n1. Paid an initial filing fee of Two Hundred Fifty Dollars\n\n($250.00) to the State Insurance Commissioner Revolving Fund,\n\npursuant to Section 307.3 of this title;\n\n2. Paid an annual license fee of One Hundred Dollars ($100.00)\n\nto the State Insurance Commissioner Revolving Fund, pursuant to\n\nSection 307.3 of this title;\n\n3. Had its name approved by the Commissioner under the\n\nprovisions of Sections 620 and 2104 of this title, the provisions of\n\nwhich are hereby made applicable to motor clubs, after electronic\n\nsubmission of its name request on a form prescribed by the\n\nCommissioner;\n\n4. Proved by affidavits of its officers, directors, managers\n\nand individual owners of more than ten percent (10%), on a form\n\nprescribed by the Commissioner, that it is not disqualified under\n\nany provisions contained in Section 3101 et seq. of this title or\n\ncontained in the Insurance Code; and\n\n5. Proved to the Commissioner's satisfaction that it is a\non a form prescribed by the\n\nCommissioner;\n\n4. Proved by affidavits of its officers, directors, managers\n\nand individual owners of more than ten percent (10%), on a form\n\nprescribed by the Commissioner, that it is not disqualified under\n\nany provisions contained in Section 3101 et seq. of this title or\n\ncontained in the Insurance Code; and\n\n5. Proved to the Commissioner's satisfaction that it is a\n\nseparate legal entity capable of being examined by the Commissioner\n\nas provided in Section 3101 et seq. of this title.\n\nD. Certificates of Authority issued hereunder shall expire\n\nannually on July 1, unless sooner revoked or suspended, as\n\nhereinafter provided.","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":"b500fb080eb338d5e8a325951802992b2148ff972ac2a3a96f791d2104c3bfa4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-3101","next":"us-ok/okla.-stat.-tit.-36-36-3103"},"notice":"GroundRules: Original legal text. Not legal advice."}