{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-989","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-989","heading":"Improper rates – Disapproval - Hearing","body":"Improper Rates; Disapproval; Hearing.\n\nA. Basis for disapproval.\n\n1. The Commissioner shall disapprove a rate in a competitive\n\nmarket only if the Commissioner finds, pursuant to subsection B of\n\nthis section, that the rate is inadequate or unfairly discriminatory\n\npursuant to Section 985 of this title.\n\n2. The Commissioner may disapprove a rate for use in a\n\nnoncompetitive market only if the Commissioner finds, pursuant to\n\nsubsection B of this section, that the rate is excessive, inadequate\n\nor unfairly discriminatory under this subsection.\n\nB. Procedures for disapproval.\n\n1. Prior to the expiration of a waiting period or an extension\n\nthereof, made pursuant to subsection B of Section 987 of this title,\n\nthe Commissioner may disapprove, by written order, rates filed\n\npursuant to subsection B of Section 987 of this title with a\n\nhearing. The order shall specify in what respects the filing fails\n\nto meet the requirements of this act. Any insurer whose rates are\n\ndisapproved pursuant to this section shall be given a hearing upon\n\nwritten request made within thirty (30) days of disapproval.\n\n2. If, at any time, the Commissioner finds that a rate\n\napplicable to insurance sold in a noncompetitive market does not\n\ncomply with the standards set forth in Section 985 of this title,\n\nthe Commissioner may, after a hearing held upon not less than twenty\n\n(20) days’ written notice, issue an order pursuant to subsection C\n\nof this section, disapproving such rate. The hearing notice shall\n\nbe sent to every insurer and advisory organization that adopted the\n\nrate and shall specify the matters to be considered at the hearing.\n\nThe disapproval order shall not affect any contract or policy made\n\nor issued prior to the effective date set forth in the order.\n\n3. If, at any time, the Commissioner finds that a rate\n\napplicable to insurance sold in a competitive market is inadequate\n\nor unfairly discriminatory under paragraph 2 or 3 of subsection A of\n\nSection 985 of this title, the Commissioner may issue an order\n\npursuant to subsection C of this section disapproving the rate. The\n\norder shall not affect any contract or policy made or issued prior\n\nto the effective date set forth in the order.\n\nC. Order of disapproval.\n\nIf the Commissioner disapproves a rate pursuant to subsection B\n\nof this section, the Commissioner shall issue an order within thirty\n\n(30) days of the close of the hearing specifying in what respects\n\nthe rate fails to meet the requirements of this act. The order\n\nshall state an effective date no sooner than thirty (30) business\n\ndays after the date of the order when the use of the rate shall be\n\ndiscontinued. This order shall not affect any policy made before\n\nthe effective date of the order.\n\nD. Appeal of orders and establishment of reserves.\n\nIf an order of disapproval is appealed pursuant to Section 990\n\nof this title, the insurer may implement the disapproved rate upon\n\nnotification to the court, in which case any excess of the\n\ndisapproved rate over a rate previously in effect shall be placed in\n\na reserve established by the insurer. The court shall have control\n\nover the disbursement of funds from such reserve. The funds shall\n\nbe distributed as determined by the court in its final order except\n\nthat de minimus refunds to policyholders shall not be required.\n\nE. All determinations made by the Commissioner under this\n\nsection shall be on the basis of findings of fact and conclusions of\n\nlaw.","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":"26cba4836063c8f7bd65e99e754ec8907c64b6265743ec7d8b85f2c2672e1de6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-987","next":"us-ok/okla.-stat.-tit.-36-36-990"},"notice":"GroundRules: Original legal text. Not legal advice."}