{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-5102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-5102","heading":"Definitions","body":"As used in the Reinsurance Intermediary Act:\n\n1. \"Actuary\" means a person who is a member in good standing of\n\nthe American Academy of Actuaries;\n\n2. \"Controlling person\" means any person, firm, association or\n\ncorporation who directly or indirectly has the power to direct or\n\ncause to be directed, the management, control or activities of the\n\nreinsurance intermediary;\n\n3. \"Insurer\" means any person, firm, association or corporation\n\nduly licensed in this state pursuant to the applicable provisions of\n\nthe Oklahoma Insurance Code as an insurer;\n\n4. \"Licensed producer\" means an agent, broker or reinsurance\n\nintermediary licensed in this state pursuant to the applicable\n\nprovision of the Oklahoma Insurance Code;\n\n5. \"Reinsurance intermediary\" means a reinsurance intermediary\n\nbroker or a reinsurance intermediary manager as these terms are\n\ndefined in this section;\n\n6. \"Reinsurance intermediary broker\" (RB) means any person,\n\nother than an officer or employee of the ceding insurer, firm,\n\nassociation or corporation, who solicits, negotiates or places\n\nreinsurance cessions or retrocessions on behalf of a ceding insurer\n\nwithout the authority or power to bind reinsurance on behalf of such\n\ninsurer;\n\n7. \"Reinsurance intermediary manager\" (RM) means any person,\n\nfirm, association or corporation that has authority to bind or\n\nmanages all or part of the assumed reinsurance business of a\n\nreinsurer, including the management of a separate division,\n\ndepartment or underwriting office, and acts as an agent for such\n\nreinsurer whether known as an RM, manager or other similar term.\n\nThe following persons shall not be considered RMs, with respect to a\n\nreinsurer, for the purposes of the Reinsurance Intermediary Act:\n\na. an employee of the reinsurer,\n\nb. a U.S. manager of the United States branch of an alien\n\nreinsurer,\n\nc. an underwriting manager which, pursuant to contract,\n\nmanages all the reinsurance operations of the\n\nreinsurer, is under common control with the reinsurer,\n\nsubject to Article 16A of the Insurance Code, and\n\nwhose compensation is not based on the volume of\n\npremiums written, or\n\nd. the manager of a group, association, pool or\n\norganization of insurers which engage in joint\n\nunderwriting or joint reinsurance and who are subject\n\nto examination by the Insurance Commissioner of the\n\nstate in which the manager's principal business office\n\nis located;\n\n8. \"Reinsurer\" means any person, firm, association or\n\ncorporation duly licensed in this state pursuant to the applicable\n\nprovisions of the Oklahoma Insurance Code as an insurer with the\n\nauthority to assume reinsurance;\n\n9. \"To be in violation\" means failure by the reinsurance\n\nintermediary, insurer, reinsurer, or reinsurer for whom the\n\nreinsurance intermediary was acting to substantially comply with the\n\nprovisions of the Reinsurance Intermediary Act; and\n\n10. \"Qualified United States financial institution\" means an\n\ninstitution that:\n\na. is organized or, in the case of a U.S. office of a\n\nforeign banking organization, licensed under the laws\n\nof the United States or any state thereof,\n\nb. is regulated, supervised and examined by U.S. federal\n\nor state authorities having regulatory authority over\n\nbanks and trust companies, and\n\nc. has been determined by either the Commissioner, or the\n\nSecurities Valuation Office of the National\n\nAssociation of Insurance Commissioners, to meet such\n\nstandards of financial condition and standing as are\n\nconsidered necessary and appropriate to regulate the\n\nquality of financial institutions.","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":"3c75e3453b7595d63ec70fb04c842b04b2622a315ca53c4757dec1c1da910add","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-5101","next":"us-ok/okla.-stat.-tit.-36-36-5103"},"notice":"GroundRules: Original legal text. Not legal advice."}