{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-5124","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-5124","heading":"Rules and regulations","body":"A. The Insurance Commissioner may promulgate and adopt rules\n\nand regulations implementing the provisions of the Credit for\n\nReinsurance Act.\n\nB. The Insurance Commissioner is further authorized to adopt\n\nrules and regulations applicable to reinsurance arrangements\n\ndescribed in paragraph 1 of this subsection.\n\n1. A regulation adopted pursuant to this subsection may apply\n\nonly to reinsurance relating to:\n\na. life insurance policies with guaranteed nonlevel gross\n\npremiums or guaranteed nonlevel benefits,\n\nb. universal life insurance policies with provisions\n\nresulting in the ability of a policyholder to keep a\n\npolicy in force over a secondary guarantee period,\n\nc. variable annuities with guaranteed death or living\n\nbenefits,\n\nd. long-term care insurance policies, or\n\ne. such other life and health insurance and annuity\n\nproducts as to which the National Association of\n\nInsurance Commissioners (NAIC) adopts model regulatory\n\nrequirements with respect to credit for reinsurance.\n\n2. A regulation adopted pursuant to this subsection which is\n\napplicable to policies listed in subparagraph a or b of paragraph 1\n\nof this subsection may apply to any treaty containing:\n\na. policies issued on or after January 1, 2015, and\n\nb. policies issued prior to January 1, 2015, if risk\n\npertaining to such pre-2015 policies is ceded in\n\nconnection with the treaty, in whole or in part, on or\n\nafter January 1, 2015, unless the NAIC Accounting\n\nPractices and Procedures Manual in effect as of\n\nDecember 31, 2015, excluded such pre-2015 policies\n\nfrom the requirements concerning the amounts and forms\n\nof security supporting reinsurance arrangements that\n\nwould otherwise be applicable to such policies.\n\n3. A regulation adopted pursuant to this subsection may require\n\nthe ceding insurer, in calculating the amounts or forms of security\n\nrequired to be held under regulations promulgated under this\n\nauthority, to use the Valuation Manual adopted by the NAIC under\n\nSection 11B (1) of the NAIC Standard Valuation Law including all\n\namendments adopted by the NAIC and in effect on the date as of which\n\nthe calculation is made, to the extent applicable.\n\n4. A regulation adopted pursuant to this subsection shall not\n\napply to cessions to an assuming insurer that:\n\na. meets the conditions set forth in subsection G of\n\nSection 5122 of this title,\n\nb. is certified in this state, or\n\nc. maintains at least Two Hundred Fifty Million Dollars\n\n($250,000,000.00) in capital and surplus when\n\ndetermined in accordance with the NAIC Accounting\n\nPractices and Procedures Manual including all\n\namendments thereto adopted by the NAIC, excluding the\n\nimpact of any permitted or prescribed practices, and\n\nis:\n\n(1) licensed in at least twenty-six states, or\n\n(2) licensed in at least ten states, and licensed or\n\naccredited in a total of at least thirty-five\n\nstates.\n\n5. The authority to adopt regulations pursuant to this\n\nsubsection does not limit the Commissioner's general authority to\n\nadopt regulations pursuant to subsection A 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":"e3c02cce8e7a6a0a3c84881e72096af41e3a40cb01bda82a446790c6c8144307","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-5123.1","next":"us-ok/okla.-stat.-tit.-36-36-5400"},"notice":"GroundRules: Original legal text. Not legal advice."}