Oklahoma § 36-1529 - Confidentiality of RBC Reports and Plans

§ 36-1529. Confidentiality of RBC Reports and Plans

A. RBC Reports and RBC Plans shall be kept confidential by the

Insurance Commissioner. This information shall not be subject to

subpoena. This information shall be made public by the Commissioner

only for the purpose of enforcement actions taken by the

Commissioner pursuant to this act or any other provision of the

insurance laws of this state.

B. Except as otherwise required under the provisions of this

act, the making, publishing, disseminating, circulating, or placing

before the public, or causing, directly or indirectly, to be made,

published, disseminated, circulated, or placed before the public, in

a newspaper, magazine, or other publication, or in the form of a

notice, circular, pamphlet, letter, or poster, or over any radio or

television station, or in any other way, an advertisement,

announcement, or statement containing an assertion, representation,

or statement with regard to the RBC Levels of any insurer, or of any

component derived in the calculation, by an insurer, agent, broker,

or other person engaged in any manner in the insurance business is

misleading and is therefore prohibited. Any person who violates

Oklahoma Statutes - Title 36. Insurance

this subsection shall be subject to a civil penalty in an amount not

less than One Thousand Dollars ($1,000.00) nor more than Ten

Thousand Dollars ($10,000.00).

C. The RBC Reports and RBC Plans are intended solely for use by

the Commissioner in monitoring the solvency of insurers and the need

for possible corrective action with respect to insurers. The RBC

Reports and RBC Plans shall not be used by the Commissioner for

ratemaking nor considered or introduced as evidence in any rate

proceeding nor used by the Commissioner to calculate or derive any

elements of an appropriate premium level or rate of return for any

line of insurance which an insurer or any affiliate is authorized to

write.

Added by Laws 1997, c. 229, § 10, eff. July 1, 1997.