Oklahoma § 36-1531
Full text of Oklahoma Oklahoma Statutes § 36-1531, with citation guidance and answers to common questions.
§ 36-1531.
Foreign insurers.
Oklahoma Statutes - Title 36. Insurance
A. 1. Any foreign insurer shall, upon the written request of
the Insurance Commissioner, submit to the Commissioner an RBC Report
as of the end of the calendar year just ended on a date which is the
later of:
a.
the date an RBC Report would be required to be filed
by a domestic insurer under this act, or
b.
fifteen (15) days after the request is received by the
foreign insurer.
2. Any foreign insurer shall, at the written request of the
Commissioner, promptly submit to the Commissioner a copy of any RBC
Plan that is filed with the Insurance Commissioner of any other
state.
B. 1. The Commissioner may require a foreign insurer to file
an RBC Plan with the Commissioner in the event of a Company Action
Level Event, Regulatory Action Level Event, or Authorized Control
Level Event. The filing shall be made pursuant to the RBC statute
applicable in the state of domicile of the insurer or, if no RBC
statute is in force in that state, pursuant to the provisions of
this act. If the insurance commissioner of the state of domicile of
the foreign insurer fails to require the foreign insurer to file an
RBC Plan in the manner specified under that state's RBC statute or,
if no RBC statute is in force in that state, the filing shall be
made pursuant to Section 5 of this act.
2. The failure of the foreign insurer to file an RBC Plan with
the Commissioner shall be grounds to order the insurer to cease and
desist from writing new insurance business in this state.
C. In the event of a Mandatory Control Level Event with respect
to any foreign insurer, if no domiciliary receiver has been
appointed with respect to the foreign insurer under the
rehabilitation and liquidation statute applicable in the state of
domicile of the foreign insurer, the Commissioner may make
application to the Oklahoma County District Court as permitted under
Article 19 of the Oklahoma Insurance Code with respect to the
liquidation of property of foreign insurers found in this state.
Added by Laws 1997, c. 229, § 12, eff. July 1, 1997.
Frequently Asked Questions About Oklahoma § 36-1531
What does Oklahoma Statutes § 36-1531 cover?
Section 36-1531 is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 36-1531?
A common citation format is "Oklahoma Statutes § 36-1531" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 36-1531 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.