Oklahoma § 36-6470.12 - Discounting of loss and loss adjustment expense
Full text of Oklahoma Oklahoma Statutes § 36-6470.12 — Discounting of loss and loss adjustment expense, with citation guidance and answers to common questions.
§ 36-6470.12. Discounting of loss and loss adjustment expense
reserves – Actuarial opinion.
A. Upon written application, accompanied by such information as
the Commissioner requires, the Insurance Commissioner may grant
permission to a sponsored captive insurance company or a special
purpose captive insurance company to discount loss and loss
adjustment expense reserves at treasury rates applied to the
Oklahoma Statutes - Title 36. Insurance
applicable payments projected through the use of the expected
payment pattern associated with the reserves.
B. A sponsored captive insurance company and a special purpose
captive insurance company, and any captive insurer, at the
Commissioner's discretion, shall file annually an actuarial opinion
on the company's loss and loss adjustment expense reserves or life
and health policy and claim reserves, as applicable. The individual
who prepares the Statement of Actuarial Opinion must be independent
of the captive company and its affiliates.
C. The Insurance Commissioner may disallow the discounting of
reserves if a captive insurance company violates a provision of this
title.
Added by Laws 2004, c. 334, § 19, emerg. eff. May 25, 2004. Amended
by Laws 2013, c. 41, § 10, eff. Nov. 1, 2013; Laws 2015, c. 298, §
18, eff. Nov. 1, 2015; Laws 2018, c. 95, § 11, eff. Nov. 1, 2018.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-6470.12
What does Oklahoma Statutes § 36-6470.12 cover?
Section 36-6470.12 ("Discounting of loss and loss adjustment expense") 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 § 36-6470.12?
A common citation format is "Oklahoma Statutes § 36-6470.12" (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 § 36-6470.12 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.