Oklahoma § 36-402 - Persons prohibited from engaging in business of insurance

§ 36-402. Persons prohibited from engaging in business of insurance

- Exception - Penalty.

A. No person who has been convicted of any criminal felony

involving dishonesty or a breach of trust, or who has been convicted

of an offense under Section 1033 of Title 18 of the United States

Code, shall engage or participate in the business of insurance in

this state or do any of the acts of an insurance business as set

forth in Section 4 of this act.

B. A person described in subsection A of this section may

engage in the business of insurance or participate in such business

if such person has the written consent of the Insurance

Commissioner.

C. A person who violates subsection A of this section or any

rule promulgated pursuant thereto is subject to a civil penalty of

not more than Ten Thousand Dollars ($10,000.00) for each act of

violation and for each day of violation.

D. The business of insurance includes title insurers for

purposes of the Crimes by or Affecting Persons Engaged in the

Business of Insurance Act.

Added by Laws 2008, c. 184, § 2, eff. July 1, 2008.