{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6470.24.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6470.24.1","heading":"Notice requirements","body":"No captive insurance company shall voluntarily take any of the\n\nfollowing actions without providing the Insurance Commissioner at\n\nleast thirty (30) days prior written notice and receiving the\n\nCommissioner's approval of any such action:\n\n1. The dissolution of the captive insurance company;\n\n2. A sale, exchange, lease, mortgage, assignment, pledge or\n\nother transfer of or granting of a security interest in, all or\n\nsubstantially all of the assets of the captive insurance company;\n\n3. Incurring a material indebtedness by the captive insurance\n\ncompany;\n\n4. Any making of a material loan or other material extension of\n\ncredit by the captive insurance company;\n\n5. Any material payment out of capital and surplus;\n\n6. Any merger or consolidation to which the captive insurance\n\ncompany is a constituent party;\n\n7. Any conversion of the captive insurance company to another\n\nbusiness form;\n\n8. Any transfer to or domestication in any jurisdiction by the\n\ncaptive insurance company; or\n\n9. Any amendment of the organizational documents of the captive\n\ninsurance company.\n\nFor purposes of this section, \"material\", in relation to\n\nfinancial matters, means any transaction or series of related\n\ntransactions involving more than the lesser of five percent (5%) of\n\nthe captive insurance company's assets or twenty-five percent (25%)\n\nof its capital and surplus. \"Assets\" and \"capital and surplus\"\n\nshall be measured as of the most recent filed report required by\n\nSection 6470.11 of Title 36 of the Oklahoma Statutes.","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":"380652eadc8ed6155a0067beb3b99682e8cf1dbbe78d4a06dca70bed3d1a26e5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6470.22","next":"us-ok/okla.-stat.-tit.-36-36-6470.24.2"},"notice":"GroundRules: Original legal text. Not legal advice."}