{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-606.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-606.1","heading":"Certain foreign or alien insurers may become domestic","body":"insurers - Requirements and procedures.\n\nA. 1. Any foreign or alien insurer which is organized under\n\nthe laws of any other jurisdiction for the purpose of transacting\n\ninsurance may become a domestic insurer by complying with all of the\n\nrequirements of law relative to the organization and licensing of a\n\ndomestic insurer of the same type and by designating its principal\n\nplace of business at a location in this state, provided the\n\nInsurance Commissioner approves the insurer's application for\n\nredomestication. Such domestic insurer will be entitled to like\n\ncertificates and licenses to transact business in this state and\n\nshall be subject to the authority and jurisdiction of this state.\n\n2. The Commissioner shall approve an insurer's application to\n\nredomesticate unless he or she finds that:\n\na. the insurer cannot comply with all the requirements of\n\nlaw relative to the organization and licensing of a\n\ndomestic insurer,\n\nb. after redomestication, the insurer would not be able\n\nto satisfy the requirements for the issuance of a\n\nlicense to write the line or lines of insurance for\n\nwhich it is presently licensed,\n\nc. the effect of the redomestication would be\n\nsubstantially to lessen competition in insurance in\n\nthis state or tend to create a monopoly therein,\n\nd. the financial condition of the insurer is such as\n\nmight jeopardize or prejudice the interest of its\n\npolicyholders or the state and is not in the public\n\ninterest, or\n\ne. the competence, experience and integrity of those\n\npersons who control the operation of the insurer are\n\nsuch that it would not be in the interest of the\n\npolicyholders, the public or the state to permit the\n\nredomestication.\n\n3. The insurer's application to redomesticate shall contain\n\ninformation acceptable to the Commissioner concerning its financial\n\ncondition, its plan of operation for the succeeding three (3) years,\n\nand information concerning the competence, experience and integrity\n\nof those persons who control the operation of the insurer.\n\n4. If the Commissioner determines that grounds exist to\n\ndisapprove the application to redomesticate, a public hearing shall\n\nbe held. The application for redomestication shall be deemed\n\napproved unless the Commissioner has, within thirty (30) days after\n\nthe conclusion of the hearing, entered his or her order disapproving\n\nthe redomestication.\n\nB. Any domestic insurer may, upon the approval of the Insurance\n\nCommissioner, transfer its domicile to any other state in which it\n\nis admitted to transact the business of insurance, and upon such a\n\ntransfer, shall cease to be a domestic insurer, and shall be\n\nadmitted to this state if qualified as a foreign insurer. The\n\nCommissioner shall approve any such proposed transfer unless he or\n\nshe shall determine such transfer is not in the interest of the\n\npolicyholders of this state.\n\nC. The certificate of authority, agents appointments and\n\nlicenses, rates, and other items which the Insurance Commissioner\n\nallows, in his or her discretion, which are in existence at the time\n\nany insurer licensed to transact the business of insurance in this\n\nstate transfers its corporate domicile to this or any other state by\n\nmerger, consolidation or any other lawful method shall continue in\n\nfull force and effect upon such transfer if such insurer remains\n\nduly qualified to transact the business of insurance in this state.\n\nAll outstanding policies and other contracts of any transferring\n\ninsurer shall remain in full force and effect and need not be\n\nendorsed as to the new name of the company or its new location\n\nunless so ordered by the Commissioner. Every transferring insurer\n\nshall file new policy forms with the Commissioner on or before the\n\neffective date of the transfer, but may use existing policy forms\n\nwith appropriate endorsements if allowed by, and under such\neffect and need not be\n\nendorsed as to the new name of the company or its new location\n\nunless so ordered by the Commissioner. Every transferring insurer\n\nshall file new policy forms with the Commissioner on or before the\n\neffective date of the transfer, but may use existing policy forms\n\nwith appropriate endorsements if allowed by, and under such\n\nconditions as approved by, the Commissioner. However, every such\n\ntransferring insurer shall notify the Commissioner of the details of\n\nthe proposed transfer, and shall file promptly, any resulting\n\namendments to corporate documents required to be filed with the\n\nCommissioner.\n\nD. The Insurance Commissioner may promulgate rules and\n\nregulations to carry out 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":"c460e3d717b79aeb33c62878f32ba040b2171a9d882708e0ad34dfd566d8ada7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-606","next":"us-ok/okla.-stat.-tit.-36-36-6060"},"notice":"GroundRules: Original legal text. Not legal advice."}