Oklahoma § 36-6947 - Foreign health maintenance organizations

§ 36-6947. Foreign health maintenance organizations

A. 1. A foreign health maintenance organization shall, upon

the written request of the Insurance Commissioner, submit to the

Commissioner a Risk-Based Capital (RBC) report as of the end of the

calendar year just ended the later of:

a.

the date an RBC report would be required to be filed

by a domestic health maintenance organization under

this act, or

b.

fifteen (15) days after the request is received by the

foreign health maintenance organization.

2. A foreign health maintenance organization shall, at the

written request of the Commissioner, promptly submit to the

Commissioner a copy of any RBC plan that is filed with the Insurance

Commissioner of any other state.

B. In the event of a Company Action Level Event, Regulatory

Action Level Event or Authorized Control Level Event with respect to

a foreign health maintenance organization, as determined under the

RBC statute applicable in the state of domicile of the health

maintenance organization or, if no RBC statute is in force in that

state, under the provisions of this act, if the Insurance

Commissioner of the state of domicile of the foreign health

maintenance organization fails to require the foreign health

maintenance organization to file an RBC plan in the manner specified

Oklahoma Statutes - Title 36. Insurance

under that state’s RBC statute or, if no RBC statute is in force in

that state, under the provisions of Section 40 of this act, the

Commissioner may require the foreign health maintenance organization

to file an RBC plan with the Commissioner. In such event, the

failure of the foreign health maintenance organization to file an

RBC plan with the Commissioner shall be grounds to order the health

maintenance organization to cease and desist from writing new

insurance business in this state.

C. In the event of a Mandatory Control Level Event with respect

to a foreign health maintenance organization, if no domiciliary

receiver has been appointed for the foreign health maintenance

organization under the rehabilitation and liquidation statute

applicable in the state of domicile of the foreign health

maintenance organization, the Commissioner may make application to

the District Court of Oklahoma County as permitted under Article 19

of the Insurance Code with respect to the liquidation of property of

foreign health maintenance organizations found in this state, and

the occurrence of the Mandatory Control Level Event shall be

considered adequate grounds for the application.

Added by Laws 2003, c. 197, § 47, eff. Nov. 1, 2003.