{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-311.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-311.2","heading":"Reports on financial condition","body":"A. The Insurance Commissioner may request financial information\n\nmore frequently than quarterly if it appears an insurer is having\n\nfinancial difficulty, if erratic changes are occurring in the\n\nfinancial data of the company, if a considerable number of consumer\n\ncomplaints have been received, or if one or more transactions have\n\noccurred which appear to jeopardize the welfare of the\n\npolicyholders. The insurer also may be requested to furnish a plan\n\nof action to improve its underwriting performance.\n\nB. Any insurer upon request of the Commissioner shall furnish\n\nto the Insurance Commissioner within forty-five (45) days following\n\nthe close of any calendar quarter, except the fourth quarter, on\n\nblank forms prescribed by the Insurance Commissioner, a statement\n\nwhich shall exhibit the financial condition of the company as of the\n\nlast date of the month immediately preceding reporting date. Such\n\nreports for information purposes shall contain a complete listing of\n\nall written commitments to loan, guaranties of loans, or contractual\n\nobligations concerning loans or conditional liabilities to borrowers\n\nor lenders made during the quarter reported. Such reports may\n\nrequire the inclusion of an exhibit of the operating results of the\n\ncompany for the three (3) months' period immediately preceding the\n\ndate for which the financial condition is shown. A completed blank\n\nform prescribed by the Commissioner for said statement shall be\n\nfurnished by each insurer for each such reporting date. Such\n\nstatements shall be subscribed and sworn to by the president and the\n\nsecretary and other proper officers of the company. Failure of any\n\ninsurer to execute and file such statements or exhibits as required\n\nherein shall constitute cause, after notice and hearing, for\n\ncensure, suspension, or revocation of certificate of authority to\n\ntransact an insurance business in this state or a fine of not less\n\nthan One Hundred Dollars ($100.00) nor more than One Thousand\n\nDollars ($1,000.00) for each occurrence, or both censure,\n\nsuspension, or revocation, and fine. The Commissioner shall set\n\nsuch cause for hearing and if he finds that the facts warrant, he\n\nshall order said censure, suspension, or revocation of the\n\ncertificate of authority of the insurer found to be in default or\n\nsaid fine, or both said censure, suspension, or revocation, and\n\nfine. Willful violations, after notice and hearing, may subject the\n\ninsurer to both censure, suspension or revocation of certificate and\n\na fine of not less than One Hundred Dollars ($100.00) or not more\n\nthan Five Thousand Dollars ($5,000.00) for each violation. The\n\nInsurance Commissioner may establish rules or regulations to carry\n\nout the purposes of this section.","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":"32e872e80924f6bf8e2ba91314c86c638c499ca4bc70ed8c7c7acd6e2a75552a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-311.1","next":"us-ok/okla.-stat.-tit.-36-36-311.3"},"notice":"GroundRules: Original legal text. Not legal advice."}