{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6470.14","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6470.14","heading":"Suspension or revocation of license","body":"A. The license of a captive insurance company to conduct an\n\ninsurance business in this state may be suspended or revoked by the\n\nInsurance Commissioner for:\n\n1. Insolvency or impairment of capital and surplus;\n\n2. Failure to meet the requirements of Section 6470.6 of this\n\ntitle;\n\n3. Refusal or failure to submit an annual report, as required\n\nby Section 6470.11 of this title, or any other report or statement\n\nrequired by law or by lawful order of the Commissioner;\n\n4. Failure to comply with its own charter, bylaws, or other\n\norganizational document;\n\n5. Failure to pay any tax or fee, or submit to examination or\n\nany legal obligation relative to an examination, as required by this\n\nsection;\n\n6. Refusal or failure to pay the cost of examination;\n\n7. Use of methods that, although not otherwise specifically\n\nprohibited by law, nevertheless render its operation detrimental or\n\nits condition unsound with respect to the public or to its\n\npolicyholders; or\n\n8. Failure otherwise to comply with laws of this state.\n\nB. If the Commissioner finds, upon examination, hearing, or\n\nother evidence, that a captive insurance company has committed any\n\nof the acts specified in subsection A of this section, the\n\nCommissioner may suspend or revoke such license if the Commissioner\n\nconsiders it in the best interest of the public and the\n\npolicyholders of the captive insurance company.\n\nC. In addition to or in lieu of any applicable revocation or\n\nsuspension of the license of a captive insurer, the Commissioner may\n\nfine any captive insurer who violates any provision of the Oklahoma\n\nInsurance Code a civil penalty of not more than Five Thousand\n\nDollars ($5,000.00) for each occurrence.","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":"060af85bc15ebdca6d80f6bd1491a27d87a4ae100200a71a240d0580b1b14fb5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6470.13","next":"us-ok/okla.-stat.-tit.-36-36-6470.15"},"notice":"GroundRules: Original legal text. Not legal advice."}