{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-5109","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-5109","heading":"Duties of reinsurer","body":"A. A reinsurer shall not engage the services of any person,\n\nfirm, association or corporation to act as an RM on its behalf\n\nunless such person is licensed as required by the Reinsurance\n\nIntermediary Act.\n\nB. The reinsurer shall annually obtain a copy of statements of\n\nthe financial condition of each RM which such reinsurer has engaged,\n\nprepared by an independent certified accountant in a form acceptable\n\nto the Commissioner.\n\nC. If an RM establishes loss reserves, the reinsurer annually\n\nshall obtain the opinion of an actuary attesting to the adequacy of\n\nloss reserves established for losses incurred and outstanding on\n\nbusiness produced by the RM. This opinion shall be in addition to\n\nany other required loss reserve certification.\n\nD. Binding authority for all retrocessional contracts or\n\nparticipation in reinsurance syndicates shall rest with an officer\n\nof the reinsurer who shall not be affiliated with the RM.\n\nE. Within thirty (30) days of termination of a contract with an\n\nRM, the reinsurer shall provide written notification of such\n\ntermination to the Commissioner.\n\nF. A reinsurer shall not appoint to its board of directors, any\n\nofficer, director, employee, controlling shareholder or subproducer\n\nof its RM. This subsection shall not apply to relationships\n\ngoverned by Article 16A of the Insurance Code or, if applicable, the\n\nBusiness Transacted with Producer Controlled Insurer Act.","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":"36fb1177c86f0b8a151d55645e7b19c166e62b18e8e2ed5e836d48bc216966b6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-5108","next":"us-ok/okla.-stat.-tit.-36-36-5110"},"notice":"GroundRules: Original legal text. Not legal advice."}