Oklahoma § 36-1904 - Injunctions

§ 36-1904. Injunctions

A. Upon application by the Insurance Commissioner for such an

order to show cause, or at any time thereafter, the court may

without notice issue an injunction restraining the insurer, its

officers, directors, stockholders, members, subscribers, agents and

all other persons for the transaction of its business or the waste

or disposition of its property until the further order of the court.

Notwithstanding the foregoing, or any other provision of this

chapter, no Federal Home Loan Bank shall be stayed, enjoined, or

prohibited from exercising or enforcing any right or cause of action

regarding collateral pledged under any security agreement, or any

pledge, security, collateral or guarantee agreement or any other

similar arrangement or credit enhancement relating to such Federal

Home Loan Bank security agreement.

B. The court may at any time during a proceeding under this

article issue such other injunctions or orders as may be deemed

necessary to prevent interference with the Insurance Commissioner or

the proceedings, or waste of the assets of the insurer, or the

commencement or prosecution of any actions, or the obtaining of

preferences, judgments, attachments or other liens, or the making of

any levy against the insurer or against its assets or any part

thereof.

C. Notwithstanding any other provision of law, no bond shall be

required of the Insurance Commissioner as a prerequisite for the

issuance of any injunction or restraining order pursuant to this

section.

D. Nothing in this section shall deprive a party in interest of

any contractual right to pursue arbitration of any dispute under any

law, and venue shall be as provided in subsection B of Section 1902

of this title.

Added by Laws 1957, p. 294, § 1804, operative July 1, 1957.

Renumbered from § 1804 of this title by Laws 1975, c. 316, § 12,

emerg. eff. June 12, 1975. Amended by Laws 1999, c. 333, § 3, eff.

July 1, 1999; Laws 2013, c. 113, § 1, emerg. eff. April 22, 2013.