{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-5108","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-5108","heading":"Duties of RM","body":"The RM shall not:\n\n1. Bind retrocessions on behalf of the reinsurer, except that\n\nthe RM may bind facultative retrocessions pursuant to obligatory\n\nfacultative agreements if the contract with the reinsurer contains\n\nreinsurance underwriting guidelines for such retrocessions. Such\n\nguidelines shall include a list of reinsurers with which such\n\nautomatic agreements are in effect, and for each such reinsurer, the\n\ncoverages and amounts or percentages that may be reinsured, and\n\ncommission schedules;\n\n2. Commit the reinsurer to participate in reinsurance\n\nsyndicates;\n\n3. Appoint any producer without assuring that the producer is\n\nlawfully licensed to transact the type of reinsurance for which he\n\nis appointed;\n\n4. Without prior approval of the reinsurer, pay or commit the\n\nreinsurer to pay a claim or net of retrocessions, that exceeds the\n\nlesser of an amount specified by the reinsurer or one percent (1%)\n\nof the reinsurer's policyholder's surplus as of December 31 of the\n\nlast complete calendar year;\n\n5. Collect any payment from a retrocessionaire or commit the\n\nreinsurer to any claim settlement with a retrocessionaire, without\n\nprior approval of the reinsurer. If prior approval is given, a\n\nreport shall be forwarded promptly to the reinsurer;\n\n6. Jointly employ an individual who is employed by the\n\nreinsurer; or\n\n7. Appoint a sub-RM.","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":"14086e221ee3af28c4ad493c0b8c9f56a095e02ce1fde8b55562f21ef5bbd14a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-5107","next":"us-ok/okla.-stat.-tit.-36-36-5109"},"notice":"GroundRules: Original legal text. Not legal advice."}