Oklahoma § 36-2009 - Powers and duties of Commissioner

§ 36-2009. Powers and duties of Commissioner

A. The Commissioner shall:

1. Notify the Oklahoma Property and Casualty Insurance Guaranty

Association Executive Director of the existence of an insolvent

insurer as soon as possible but not later than three (3) days after

notice of the determination is received. The Association shall be

entitled to a copy of a complaint seeking an order of liquidation

with a finding of insolvency against a member company at the same

time that the complaint is filed with a court of competent

jurisdiction; and

2. Provide the Association with a statement of the net direct

written premiums of each member insurer upon the request of the

board of directors.

B. The Commissioner may:

1. Suspend or revoke, after the notice and hearing, the

certificate of authority to transact insurance in this state of any

member insurer which fails to pay an assessment when due or fails to

comply with the plan of operation. As an alternative, the

Commissioner may levy a fine on any member insurer which fails to

pay an assessment when due. The fine shall not exceed five percent

(5%) of the unpaid assessment per month, except that no fine shall

be less than One Hundred Dollars ($100.00) per month;

2. Revoke the designation of any servicing facility if the

Commissioner finds claims are being handled unsatisfactorily; or

Oklahoma Statutes - Title 36. Insurance

3. Examine or audit the Association.

C. Any final action or order of the Commissioner under the

Oklahoma Property and Casualty Insurance Guaranty Association Act

shall be subject to judicial review in a court of competent

jurisdiction.

Added by Laws 1980, c. 362, § 9, emerg. eff. June 27, 1980. Amended

by Laws 2010, c. 159, § 8, eff. Nov. 1, 2010; Laws 2025, c. 366, §

5, eff. Nov. 1, 2025.