{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6414","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6414","heading":"Market Assistance Association - Powers and duties - Plan","body":"of operation - Insurer's financial liability - Termination of\n\nmembership.\n\nA. The Association created pursuant to the Market Assistance\n\nAssociation Act shall have the power on behalf of its members to:\n\n1. Require members to issue policies of insurance to\n\napplicants, subject to limitations specified in the plan of\n\noperation required by the Market Assistance Association Act;\n\nirregardless of the type of insurance coverage, the limits of\n\nliability for homeowners' liability insurance, shall be governed by\n\nthe amounts specified in subsection A of Section 154 of Title 51 of\n\nthe Oklahoma Statutes; and\n\n2. Call upon member insurers who have expertise or familiarity\n\nwith a particular line of homeowners' liability insurance to assist\n\nin underwriting such insurance.\n\nB. The Board after consultation with the Association, the\n\nInsurance Commissioner and other affected entities, shall promulgate\n\na plan of operation consistent with the provisions of this section,\n\nto become effective no later than ninety (90) days after the date of\n\nthe inception of the Association.\n\n1. The plan of operation shall provide for economic, fair and\n\nnondiscriminatory administration and for prompt and efficient\n\nprovision of insurance, and shall contain other provisions\n\nincluding, but not limited to, the following:\n\na. preliminary assessment of all members for initial\n\nexpenses necessary to commence operations of the\n\nAssociation,\n\nb. establishment of necessary facilities,\n\nc. management of the Association,\n\nd. assessment of members, and assessment of policyholders\n\nif a market assistance association for professionals\n\nis declared, to defray losses and expenses,\n\ne. establishment of committees as may be necessary to\n\nfacilitate the administration of the Association,\n\nf. procedures providing that an insured shall have proof\n\nthat he or she has coverage that has been canceled or\n\nnonrenewed by his or her current carrier and has\n\nsubsequently requested and been refused homeowners' or\n\nhomeowners' liability coverage from two insurers\n\nlicensed to do business in this state, or that his or\n\nher premium has been increased by seventy-five percent\n\n(75%) or more from the previous year, before\n\nrequesting insurance coverage from the Association,\n\ng. appointment of members of the Association on a\n\nrotating basis to provide homeowners' and homeowners'\n\nliability insurance coverage based upon direct\n\npremiums for homeowners' and homeowners' liability\n\ninsurance, written in the state in the preceding\n\ncalendar year,\n\nh. procedures for determining amounts of insurance to be\n\nprovided by members of the Association, and\n\ni. procedures for two or more member insurers to share an\n\ninsured risk if coverage for that risk is beyond the\n\nability for one insurer\n\n2. The plan of operation shall provide that any balance\n\nremaining in the funds of the Association at the close of its fiscal\n\nyear shall be added to the reserves of the Association and may be\n\nused for expenses of the Association or any successor association.\n\n3. Amendments to the plan of operation may be made by the\n\nBoard.\n\nC. All insurers who are members of the Association shall\n\nparticipate in the Association's writings, expenses, and losses in\n\nthe proportion that the net direct premiums of each such member\n\nwritten during the preceding calendar year bears to the aggregate\n\nnet direct premiums written in this state by all members of the\n\nAssociation. Each insurer's proportion of participation in the\n\nAssociation shall be determined annually on the basis of such net\n\ndirect premiums written during the preceding calendar year, as\n\nreported in the annual statements and other reports filed by the\n\ninsurer that may be required by the board of directors. No member\n\nshall be obligated in any one (1) year to write liability insurance\n\nbusiness from the Association that would result in the member\n\ninsurer writing more than ten percent (10%) of its total annual\nch net\n\ndirect premiums written during the preceding calendar year, as\n\nreported in the annual statements and other reports filed by the\n\ninsurer that may be required by the board of directors. No member\n\nshall be obligated in any one (1) year to write liability insurance\n\nbusiness from the Association that would result in the member\n\ninsurer writing more than ten percent (10%) of its total annual\n\nliability insurance, from all lines of liability insurance, from the\n\nAssociation. Likewise, no member shall be obligated in any one (1)\n\nyear to write homeowners' insurance business from the Association\n\nthat would result in the member insurer writing more than ten\n\npercent (10%) of its total annual homeowners' insurance, from the\n\nAssociation.\n\nD. An applicable insurer ceasing to be licensed or authorized\n\nto transact insurance business pursuant to the Insurance Code shall\n\nautomatically cease to be a member of the Association effective at\n\n12:01 a.m. on the day following the termination or expiration of its\n\ncertificate of authority and shall no longer be subject to the plan\n\nof operation or requirements of the Association; provided, however,\n\nsuch insurer shall remain liable for any annual assessments of the\n\nAssociation based on expenses incurred by the Association while such\n\nlicense or authority was in effect.","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":"1df8d8d742f36eb31ec9f65dc3363f5165e794e205b0d90c2295f0ae987a62eb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6413","next":"us-ok/okla.-stat.-tit.-36-36-6415"},"notice":"GroundRules: Original legal text. Not legal advice."}