Oklahoma § 36-307.5 - Insurance Department Anti-Fraud Revolving Fund
Full text of Oklahoma Oklahoma Statutes § 36-307.5 — Insurance Department Anti-Fraud Revolving Fund, with citation guidance and answers to common questions.
§ 36-307.5. Insurance Department Anti-Fraud Revolving Fund
A. There is hereby created in the State Treasury a revolving
fund for the Oklahoma Insurance Department, to be designated the
"Insurance Department Anti-Fraud Revolving Fund". The fund shall be
a continuing fund, not subject to fiscal year limitation, and shall
consist of any monies designated to the fund as provided in
subsections B and C of this section. Warrants for expenditures from
the revolving fund shall be drawn by the State Treasurer, based on
claims signed by an authorized employee or employees of the
Insurance Department and filed with the Director of the Office of
Management and Enterprise Services. The fund shall be used for the
purpose of administering investigations of abuse, negligence or
criminal conduct regarding insurance laws or regulations.
B. The Department shall deposit all of the monies obtained as a
result of insurance-related crimes, and other fines, late fees, and
penalties assessed and collected into the Insurance Department AntiFraud Revolving Fund.
C. Each year, the Department shall transfer to the General
Revenue Fund the first Four Hundred Eighty-two Thousand Five Hundred
Dollars ($482,500.00) collected by the Department and deposited in
the Insurance Department Anti-Fraud Revolving Fund. The next Five
Hundred Thousand Dollars ($500,000.00) collected by the Department
each year shall be divided evenly between the Department and the
Oklahoma Attorney General. All collections to be submitted to the
Attorney General shall be deposited in the Attorney General's
Insurance Fraud Unit Revolving Fund. Any collections above Nine
Hundred Eighty-two Thousand Five Hundred Dollars ($982,500.00) shall
be deposited each year into the Insurance Department Anti-Fraud
Revolving Fund and shall be retained for use by the Department for
the purposes of administering investigations of abuse, negligence or
criminal conduct regarding insurance laws or regulations.
Added by Laws 2011, c. 360, § 2. Amended by Laws 2012, c. 304, §
123.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-307.5
What does Oklahoma Statutes § 36-307.5 cover?
Section 36-307.5 ("Insurance Department Anti-Fraud Revolving Fund") 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 § 36-307.5?
A common citation format is "Oklahoma Statutes § 36-307.5" (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 § 36-307.5 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.