Oklahoma § 36-5109 - Duties of reinsurer
Full text of Oklahoma Oklahoma Statutes § 36-5109 — Duties of reinsurer, with citation guidance and answers to common questions.
§ 36-5109. Duties of reinsurer
A. A reinsurer shall not engage the services of any person,
firm, association or corporation to act as an RM on its behalf
unless such person is licensed as required by the Reinsurance
Intermediary Act.
B. The reinsurer shall annually obtain a copy of statements of
the financial condition of each RM which such reinsurer has engaged,
prepared by an independent certified accountant in a form acceptable
to the Commissioner.
C. If an RM establishes loss reserves, the reinsurer annually
shall obtain the opinion of an actuary attesting to the adequacy of
loss reserves established for losses incurred and outstanding on
business produced by the RM. This opinion shall be in addition to
any other required loss reserve certification.
D. Binding authority for all retrocessional contracts or
participation in reinsurance syndicates shall rest with an officer
of the reinsurer who shall not be affiliated with the RM.
E. Within thirty (30) days of termination of a contract with an
RM, the reinsurer shall provide written notification of such
termination to the Commissioner.
F. A reinsurer shall not appoint to its board of directors, any
officer, director, employee, controlling shareholder or subproducer
of its RM. This subsection shall not apply to relationships
governed by Article 16A of the Insurance Code or, if applicable, the
Business Transacted with Producer Controlled Insurer Act.
Added by Laws 1992, c. 178, § 30, eff. Sept. 1, 1992.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-5109
What does Oklahoma Statutes § 36-5109 cover?
Section 36-5109 ("Duties of reinsurer") 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 § 36-5109?
A common citation format is "Oklahoma Statutes § 36-5109" (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 § 36-5109 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.