Oklahoma § 36-4080 - Enforcement of compliance

§ 36-4080. Enforcement of compliance

A. If the Insurance Commissioner or an independent hearing

examiner finds that a violation of this act has occurred, the

Insurance Commissioner shall enforce compliance with this act by

sending a letter by certified mail, return receipt requested,

demanding that the charitable organization comply with this act. If

the charitable organization fails to comply with the demand within

thirty (30) days of receipt of the letter, the charitable

organization may be censured by the Insurance Commissioner or may be

subject to a civil fine of not less than One Thousand Dollars

($1,000.00) but not more than Ten Thousand Dollars ($10,000.00)

until such time as the charitable organization brings itself into

compliance with this act.

B. If the Insurance Commissioner or an independent hearing

examiner finds that the violation or threatened violation of this

act is willful and is substantially injurious to the public, the

Commissioner may file an action in district court to prevent,

restrain or enjoin such violation or threatened violation.

C. The failure of a charitable organization to comply with the

requirements of this act does not prevent a charitable gift annuity

from otherwise being a charitable gift annuity under the Internal

Revenue Code.

Oklahoma Statutes - Title 36. Insurance

Added by Laws 1998, c. 141, § 10, emerg. eff. April 21, 1998.