{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-310a.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-310A.2","heading":"Material acquisitions or dispositions defined -","body":"Information to be disclosed in report.\n\nA. No acquisitions or dispositions of assets need be reported\n\npursuant to Section 1 of this act if the acquisitions or\n\ndispositions are not material. For purposes of this act, a material\n\nacquisition, or the aggregate of any series of related acquisitions\n\nduring any thirty-day period, or disposition, or the aggregate of\n\nany series of related dispositions during any thirty-day period, is\n\none that is nonrecurring and not in the ordinary course of business\n\nand involves more than five percent (5%) of the reporting insurer's\n\ntotal admitted assets as reported in its most recent annual\n\nstatement filed with the Insurance Commissioner pursuant to Section\n\n311 of Title 36 of the Oklahoma Statutes.\n\nB. 1. Asset acquisitions subject to Section 1 of this act\n\ninclude every purchase, lease, exchange, merger, consolidation,\n\nsuccession or any other acquisition.\n\n2. Asset dispositions subject to this act include every sale,\n\nlease, exchange, merger, consolidation, mortgage, hypothecation,\n\nassignment whether for the benefit of creditors or otherwise,\n\nabandonment, destruction or other disposition.\n\nC. 1. The following information is required to be disclosed in\n\nany report of a material acquisition or disposition of assets:\n\na. date of the transaction,\n\nb. manner of acquisition or disposition,\n\nc. description of the assets involved,\n\nd. nature and amount of the consideration given or\n\nreceived,\n\ne. purpose of, or reason for, the transaction,\n\nf. manner by which the amount of consideration was\n\ndetermined, and\n\ng. gain or loss recognized or realized as a result of the\n\ntransaction.\n\n2. Insurers are required to report material acquisitions and\n\ndispositions on a nonconsolidated basis unless the insurer is part\n\nof a consolidated group of insurers which utilizes a pooling\n\narrangement or one hundred percent (100%) reinsurance agreement that\n\naffects the solvency and integrity of the insurer's reserves and the\n\ninsurer ceded substantially all of its direct and assumed business\n\nto the pool. An insurer is deemed to have ceded substantially all\n\nof its direct and assumed business to a pool if:\n\na. the insurer has less than One Million Dollars\n\n($1,000,000.00) total direct plus assumed written\n\npremiums during a calendar year that are not subject\n\nto a pooling arrangement, and\n\nb. the net income of the business not subject to the\n\npooling arrangement represents less than five percent\n\n(5%) of the insurer's capital and surplus.","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":"d607513544920fa0a21d99d5b8e800fb313a1d9ed89e4294ad16781a8bd5e84b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-310a.1","next":"us-ok/okla.-stat.-tit.-36-36-310a.3"},"notice":"GroundRules: Original legal text. Not legal advice."}