{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6454","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6454","heading":"Chartering and licensing of risk retention group","body":"A. 1. A risk retention group seeking to be chartered for\n\ndomicile in this state shall be chartered and licensed only to write\n\nliability insurance pursuant to the insurance laws of this state\n\nand, except as provided elsewhere in the Oklahoma Risk Retention\n\nAct, shall comply with all of the laws, rules, regulations, and\n\nrequirements applicable to such insurers chartered and licensed in\n\nthis state including Section 6455 of this title to the extent such\n\nrequirements are not a limitation on the laws, rules, regulations\n\nand requirements in this state.\n\n2. Notwithstanding any other provision of law, all risk\n\nretention groups chartered in this state shall file with the\n\nInsurance Department and the National Association of Insurance\n\nCommissioners an annual statement in a form prescribed by the\n\nAssociation and in electronic form, if required by the Insurance\n\nCommissioner and completed in accordance with its instructions and\n\nthe Practices and Procedures Manual of the Association.\n\nB. Before it may offer insurance in any state, each risk\n\nretention group licensed in this state shall submit for approval to\n\nthe Insurance Commissioner of this state a plan of operation or a\n\nfeasibility study. The risk retention group shall submit an\n\nappropriate revision in the event of any subsequent material change\n\nin any item of the plan of operation or feasibility study within ten\n\n(10) days of the change. The group shall not offer any additional\n\nkinds of liability insurance in this state or in any other state\n\nuntil a revision of the plan or study is approved by the\n\nCommissioner. At the time of filing its application for charter,\n\nthe risk retention group shall provide to the Commissioner a summary\n\nof the following information: the identity of the initial members\n\nof the group or who organized the group, the identity of those\n\nindividuals who will provide administrative services or otherwise\n\ninfluence or control the activities of the group, the amount and\n\nnature of initial capitalization, the coverages to be afforded, and\n\nthe states in which the group intends to operate. Upon receipt of\n\nthis information, the Commissioner shall transmit the information to\n\nthe National Association of Insurance Commissioners. Transmitting\n\nthis information shall be sufficient to satisfy the requirements of\n\nSection 6455 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":"6d3bec26e4a8d15f2c5ab6b567accb53cce0a4b1b5944e5b8cb1244bd4e53a3c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6453","next":"us-ok/okla.-stat.-tit.-36-36-6454.1"},"notice":"GroundRules: Original legal text. Not legal advice."}