Okla. Stat. tit. 15, § 15-141.15
This is the official text of Okla. Stat. tit. 15, § 15-141.15, part of Oklahoma’s Stat. tit. 15, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 15,." Browse the sections below, each linked to its official government source.
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Examinations of service warranty associations
Official statutory text
A. Service warranty associations licensed pursuant to the
Service Warranty Act are subject to periodic examination by the
Insurance Commissioner, in the same manner and subject to the same
terms and conditions that apply to insurers.
B. The Commissioner is not required to examine an association
that has less than Twenty Thousand Dollars ($20,000.00) in gross
written provider fees as reflected in its most recent annual
financial statement. The Commissioner may examine such an
association if the Commissioner has reason to believe that the
association may be in violation of the Service Warranty Act or is
otherwise in an unsound financial condition. If the Commissioner
examines such an association, the examination fee shall not exceed
Oklahoma Statutes - Title 15. Contracts Page 49
five percent (5%) of the gross written provider fees of the
association.
Service Warranty Act are subject to periodic examination by the
Insurance Commissioner, in the same manner and subject to the same
terms and conditions that apply to insurers.
B. The Commissioner is not required to examine an association
that has less than Twenty Thousand Dollars ($20,000.00) in gross
written provider fees as reflected in its most recent annual
financial statement. The Commissioner may examine such an
association if the Commissioner has reason to believe that the
association may be in violation of the Service Warranty Act or is
otherwise in an unsound financial condition. If the Commissioner
examines such an association, the examination fee shall not exceed
Oklahoma Statutes - Title 15. Contracts Page 49
five percent (5%) of the gross written provider fees of the
association.
Status: in_force · Read it on the official government site
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