Oklahoma § 36-1932 - Levy of assessment

§ 36-1932. Levy of assessment

A. Upon the basis of the report provided for in section 1831 of

this article, including any amendments thereof, the court, ex parte,

may levy one or more assessments against all members of such insurer

who, as shown by the records of the insurer, were members (if a

mutual insurer) or subscribers (if a reciprocal insurer) at any time

within one (1) year prior to the date of issuance of the order to

show cause under section 1803 of this article.

B. Such assessment or assessments shall cover the excess of the

probable liabilities over the reasonable value of the assets,

together with the estimated cost of collection and percentage of

uncollectibility thereof. The total of all assessments against any

member or subscriber with respect to any policy, whether levied

Oklahoma Statutes - Title 36. Insurance

pursuant to this article or pursuant to any other provision of this

code, shall be for no greater amount than that specified in the

policy or policies of the member or subscriber and as limited under

this code, except that if the court finds that the policy was issued

at a rate or premium below the minimum rate lawfully permitted for

the risk insured, the court may determine the upper limit of such

assessment upon the basis of such minimum rate.

C. No assessment shall be levied against any member or

subscriber with respect to any nonassessable policy issued in

accordance with this code.

Laws 1957, p. 302, § 1832; Laws 1975, c. 316, § 12, emerg. eff. June

12, 1975.