{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-613","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-613","heading":"Deposit requirements","body":"A. Except as provided in subsection C of this section, any\n\ninsurer that incorporates or is authorized initially to transact the\n\nbusiness of insurance in Oklahoma after October 1, 1980, shall not\n\nbe issued a certificate of authority by the Insurance Commissioner\n\nunless it has deposited in trust with the Commissioner cash or\n\nsecurities eligible for the investment of capital funds of domestic\n\ninsurers under this Code in an amount not less than Three Hundred\n\nThousand Dollars ($300,000.00). The Commissioner may require a\n\ngreater amount to be deposited in trust if the Insurance\n\nCommissioner finds that a greater amount is warranted for the\n\nprotection of the policyholders of the insurer pursuant to rules\n\npromulgated by the Commissioner. Any amount over Three Hundred\n\nThousand Dollars ($300,000.00) must be documented and reasons stated\n\nby the Commissioner in writing for the excess deposit amount. The\n\nCommissioner will annually review those insurers with deposits above\n\nThree Hundred Thousand Dollars ($300,000.00) to determine whether\n\nsuch additional deposits remain justified.\n\nB. The Commissioner shall not issue a certificate of authority\n\nto any insurer that incorporated or was initially authorized to\n\ntransact the business of insurance in Oklahoma prior to October 1,\n\n1980, unless it has deposited in trust with the Commissioner cash or\n\nsecurities eligible for the investment of capital funds of domestic\n\ninsurers under this Code in an amount not less than the surplus in\n\nregard to policyholders, or net admitted assets (if a Lloyd's\n\nassociation) required pursuant to this Code to be maintained for\n\nauthority to transact the kinds of insurance to be transacted,\n\nexcept that in the case of life and/or accident and health insurers\n\nthe deposit shall be in the amount of One Hundred Thousand Dollars\n\n($100,000.00).\n\nC. 1. As to domestic title insurers, the deposit shall be as\n\nrequired by Article 50 (Title Insurers).\n\n2. As to foreign insurers, in lieu of such deposit or part\n\nthereof in this state, the Commissioner may accept the current\n\ncertificate in proper form of the public official having supervision\n\nover insurers in any other state to the effect that a like deposit\n\nor part thereof by such insurer is being maintained in public\n\ncustody in such state in trust for the purpose, among other\n\nreasonable purposes, of protection of all the insurer's\n\npolicyholders or of all its policyholders and creditors.\n\n3. As to alien insurers, other than title insurers, in lieu of\n\nsuch deposit or part thereof in this state, the Commissioner may\n\naccept the certificate of the official having supervision over\n\ninsurance of another state in the United States, given under his or\n\nher hand and seal, that the insurer maintains within the United\n\nStates by way of deposits with public depositaries, or in trust\n\ninstitutions within the United States approved by such official,\n\nassets available for discharge of its United States insurance\n\nobligations, which assets shall be in amount not less than the\n\noutstanding liabilities of the insurer arising out of its insurance\n\ntransactions in the United States, together with the largest deposit\n\nrequired by this Code to be made in this state by any type of\n\ndomestic insurer transacting like kinds of insurance.\n\nD. Any securities deposited by insurers shall be issued to the\n\nCommissioner and the insurer and shall not be released by any\n\ncompany holding such security without the signatures of the\n\nCommissioner and the authorized insurer's personnel. Failure of any\n\ncompany holding such security to comply with this subsection may\n\nresult, after hearing by the proper licensing authority, in a fine\n\nof not more than Twenty-five Thousand Dollars ($25,000.00) per\n\noccurrence.","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":"9cab48fd36f7fa8c8d6bcc90e84e042b63cfb5eec31f86a2ed28d9fca0ae2d31","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6129.1","next":"us-ok/okla.-stat.-tit.-36-36-613.1"},"notice":"GroundRules: Original legal text. Not legal advice."}