Oklahoma § 36-6458 - Notice to Commissioner - Designation and registration of

§ 36-6458. Notice to Commissioner - Designation and registration of

agent.

A. A purchasing group which intends to do business in this

state shall, prior to doing business, furnish to the Insurance

Commissioner notice which shall, on forms prescribed by the National

Association of Insurance Commissioners:

1. Identify the state in which the group is domiciled;

2. Identify all other states in which the group intends to do

business;

3. Specify the lines and classifications of liability insurance

which the purchasing group intends to purchase;

4. Identify the insurance company or companies from which the

group intends to purchase its insurance and the domicile of the

company or companies;

5. Identify the principal place of business of the group;

6. Specify the method by which the person or persons, if any,

through whom insurance will be offered to its members whose risks

are resident or located in this state; and

7. Provide such other information as may be required by the

Commissioner of this state to verify that the purchasing group is

qualified to do business in this state as a purchasing group.

B. A purchasing group shall notify the Insurance Commissioner

of any changes in any of the information prescribed in subsection A

of this section within ten (10) days of such change;

Oklahoma Statutes - Title 36. Insurance

C. The purchasing group shall register with and designate the

Commissioner of this state as its agent solely for the purpose of

receiving service of legal documents or process, for which a filing

fee shall be assessed in an amount determined by the Commissioner,

except that such requirements shall not apply in the case of a

purchasing group which only purchases insurance that was authorized

under the federal Products Liability Risk Retention Act of 1981 and:

1. Which:

a.

was domiciled before April 1, 1986, and

b.

is domiciled on and after October 27, 1986, in any

state;

2. Before October 27, 1986, purchased insurance from an

insurance carrier licensed in any state;

3. Since October 27, 1986, purchased its insurance from an

insurance carrier licensed in any state; or

4. Was a purchasing group pursuant to the requirements of the

federal Product Liability Risk Retention Act of 1981 before October

27, 1986.

D. Each purchasing group that is required to give notice

pursuant to subsection A of this section also shall furnish such

information as may be required by the Insurance Commissioner or

designee to:

1. Verify that the entity qualifies as a purchasing group;

2. Determine where the purchasing group is located; and

3. Determine appropriate tax treatment.

Added by Laws 1987, c. 157, § 8, emerg. eff. June 25, 1987. Amended

by Laws 2004, c. 334, § 5, emerg. eff. May 25, 2004; Laws 2021, c.

314, § 8, eff. Nov. 1, 2021.