Oklahoma § 36-612

§ 36-612.

Additional kinds of insurance - Requirments.

Oklahoma Statutes - Title 36. Insurance

A. An insurance company which incorporates or is authorized

initially to transact the business of insurance in Oklahoma after

the effective date of this act may transact all kinds of insurance

with no additional capital or surplus requirements.

B. An insurance company which incorporated or was initially

authorized to transact the business of insurance in Oklahoma prior

to the effective date of this act and which is otherwise qualified

therefor may be authorized to transact combinations of kinds of

insurance (other than the life and accident and health combination

shown in Section 610 of this article) while possessing and

maintaining thereafter additional surplus in regard to policyholders

not less in amount than that determined in subsection C of this

section.

C. For any lawful combination add One Hundred Thousand Dollars

($100,000.00) for each additional kind of insurance included in the

combination, to the amount required under Section 610 of this

article for that one kind of insurance in the combination for which

the largest amount is required under said Section 610, except:

1. Vehicle and accident and health insurance may be combined

with casualty, and in any combination including casualty, without

funds in addition to those required because of casualty.

2. An insurer, if otherwise qualified therefor, may be

authorized to transact all kinds of insurance except life and title

insurance.

3. The amount of such surplus in regard to policyholders shall

not in any event be less than would be required if the insurer

proposed to transact in Oklahoma all those kinds of insurance which

it is transacting elsewhere.

Laws 1957, p. 233, § 612; Laws 1967, c. 231, § 2, emerg. eff. May 4,

1967; Laws 1980, c. 185, § 3, eff. Oct. 1, 1980.