{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6977","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6977","heading":"Certificate of authority to operate as prepaid vision","body":"plan organization.\n\nA. No person, organization, or entity, unless authorized\n\npursuant to an approved certificate of authority under Section 7 of\n\nthis act, shall establish or operate a prepaid vision plan\n\norganization in this state or sell, offer to sell, solicit offers to\n\npurchase, or receive advance or periodic consideration in\n\nconjunction with a prepaid vision plan without obtaining and\n\nmaintaining a certificate of authority.\n\nB. On or before February 1, 2025, every prepaid vision plan\n\norganization operating in this state shall submit an application for\n\na certificate of authority to the Insurance Commissioner. Each\n\napplicant may continue to operate as an organization until the\n\nCommissioner acts upon the application.\n\nC. An application for a certificate of authority to operate as\n\na prepaid vision plan organization shall be electronically filed\n\nwith the Insurance Commissioner in the form and manner prescribed by\n\nthe Commissioner, along with any transaction or other applicable\n\nfees. The application shall be verified by an officer or authorized\n\nrepresentative of the applicant and shall set forth or be\n\naccompanied by:\n\n1. A copy of any documents of organization of the applicant\n\nsuch as the articles of incorporation, articles of association,\n\npartnership agreement, trust agreement, or other applicable\n\ndocuments, with all amendments to the documents;\n\n2. A copy of any bylaws, rules, regulations, or similar\n\ndocuments regulating the conduct of the internal affairs of the\n\napplicant;\n\n3. A list of the names, addresses, and official positions of\n\nthe persons who are responsible for the conduct of the business\n\naffairs of the applicant, including all members of the board of\n\ndirectors, board of trustees, executive committee, or other\n\ngoverning board or committee, and the principal officers, in the\n\ncase of a corporation, or the partners or members in the case of a\n\npartnership or association;\n\n4. A copy of the form of any contract made or to be made\n\nbetween any providers of vision services or persons listed in\n\nparagraph 3 of this subsection and the applicant;\n\n5. A statement generally describing the prepaid vision plan\n\norganization, the facilities, personnel of the organization, and\n\nprepaid vision plans offered by the organization;\n\n6. A copy of the form of individual or group coverage or a copy\n\nof any form of evidence of coverage to be issued to enrollees;\n\n7. Financial statements showing assets, liabilities, and\n\nsources of financial support of the applicant. If the financial\n\naffairs of the applicant are audited by independent certified public\n\naccountants, a copy of the most recent regular certified financial\n\nstatement for the applicant shall satisfy the requirement of this\n\nparagraph, unless the Commissioner determines that additional or\n\nmore recent financial information is required;\n\n8. A description of the proposed method of marketing the\n\nprepaid vision plan, a financial prospectus which includes a three-\n\nyear projection of the initial operating results anticipated, and a\n\nstatement as to the sources of working capital available for the\n\noperation of the prepaid vision plan and any other source of\n\nfunding;\n\n9. A power of attorney, duly executed by the applicant if not\n\ndomiciled in this state, appointing the Commissioner as the true and\n\nlawful representative for service of process for the applicant in\n\nthis state upon whom all lawful process in any legal action or\n\nproceeding against the prepaid vision plan organization on a cause\n\nof action arising in this state may be served;\n\n10. A fee of One Hundred Dollars ($100.00) for issuance of a\n\ncertificate of authority; and\n\n11. Any other information as the Commissioner may require.\n\nD. Within ten (10) days following any modification of\n\ninformation previously furnished as required by subsection C of this\ne 1453\n\nproceeding against the prepaid vision plan organization on a cause\n\nof action arising in this state may be served;\n\n10. A fee of One Hundred Dollars ($100.00) for issuance of a\n\ncertificate of authority; and\n\n11. Any other information as the Commissioner may require.\n\nD. Within ten (10) days following any modification of\n\ninformation previously furnished as required by subsection C of this\n\nsection, a prepaid vision plan organization shall file a notice of\n\nthe modification with the Commissioner, in the form and manner\n\nprescribed by the Commissioner, along with any applicable fees.\n\nE. Any service of legal process against a prepaid vision plan\n\norganization served upon the Commissioner shall comply with all\n\nrequirements set forth pursuant to Section 622 of Title 36 of the\n\nOklahoma Statutes for legal processes against a foreign or alien\n\ninsurer.","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":"ad666b0a2c3656833eb634e4a132f1760f9df591e9856d803bf6b68f239e902c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6976","next":"us-ok/okla.-stat.-tit.-36-36-6978"},"notice":"GroundRules: Original legal text. Not legal advice."}