{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6470.34","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6470.34","heading":"Entity-protected cell","body":"A. A protected cell of a sponsored captive insurance company\n\nmay be formed as an entity-protected cell. \"Entity-protected cell\"\n\nmeans a protected cell that is established as any type of legal\n\nentity separate from the sponsored captive insurance company of\n\nwhich it is a part.\n\nB. Subject to the prior written approval of the sponsored\n\ncaptive insurance company and of the Insurance Commissioner, an\n\nentity-protected cell shall be entitled to enter into contracts and\n\nundertake obligations in its own name and for its own account. In\n\nthe case of a contract or obligation to which the sponsored captive\n\ninsurance company is not a party, either in its own name and for its\n\nown account or on behalf of a protected cell, the counterparty to\n\nthe contract or obligation shall have no right or recourse against\n\nthe sponsored captive insurance company and its assets other than\n\nagainst assets properly attributable to the entity-protected cell\n\nthat is a party to the contract or obligation.\n\nC. The articles of incorporation or articles of organization of\n\nan entity-protected cell shall refer to the sponsored captive\n\ninsurance company for which it is a protected cell and shall state\n\nthat the protected cell is incorporated or organized for the limited\n\npurposes authorized by the sponsored captive insurance company's\n\nlicense. A copy of the prior written approval of the Commissioner\n\nto add the entity-protected cell, required by Section 6470.29 of\n\nTitle 36 of the Oklahoma Statutes, shall be attached to and filed\n\nwith the articles of incorporation or the articles of organization.\n\nD. Sponsored captive insurance companies, including those\n\nlicensed as special purpose captive insurance companies, shall have\n\nthe option to establish one or more protected cells as a separate\n\ncorporation, mutual corporation, nonprofit corporation, limited\n\nliability company, or reciprocal insurer. This section shall not be\n\nconstrued to limit any rights or protections applicable to protected\n\ncells not established as corporations, mutual corporations,\n\nnonprofit corporations, limited liability companies, or reciprocal\n\ninsurers.","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":"2df7f14f11d00ed39d2586a9499d8eb9c2a066975edc3a1a19b05a2729e8231d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6470.31.1","next":"us-ok/okla.-stat.-tit.-36-36-6470.35"},"notice":"GroundRules: Original legal text. Not legal advice."}