Okla. Stat. tit. 15, § 15-141.7

Audited financial statements.

A. An application for license as a service warranty association

shall be made to, and filed with, the Insurance Commissioner on

printed forms as prescribed and furnished by the Insurance

Commissioner.

B. In addition to information relative to its qualifications as

required under Section 141.5 of this title, the Commissioner may

require that the application show:

1. The location of the home office of the applicant;

2. The name and residence address of each director or officer

of the applicant; and

3. Other pertinent information as may be required by the

Commissioner.

C. The Commissioner may require that the application, when

filed, be accompanied by:

1. A copy of the articles of incorporation of the applicant,

certified by the public official having custody of the original, and

a copy of the bylaws of the applicant, certified by the chief

executive officer of the applicant;

2. A copy of the most recent financial statement of the

applicant, which must be:

a. audited if the applicant complies with the

requirements of subsection A of Section 141.6 of this

title, or

b. verified under oath of at least two of its principal

officers if the applicant utilizes one or more

insurance policies that satisfy the requirements of

subsection B of Section 141.6 of this title; and

3. A license fee as required pursuant to Section 141.4 of this

title.

D. Upon completion of the application for license, the

Commissioner shall examine the application and make such further

investigation of the applicant as the Commissioner deems advisable.

If the Commissioner finds that the applicant is qualified, the

Commissioner shall issue to the applicant a license as a service

warranty association. If the Commissioner does not find the

applicant to be qualified the Commissioner shall refuse to issue the

Oklahoma Statutes - Title 15. Contracts Page 42

license and shall give the applicant written notice of the refusal,

setting forth the grounds of the refusal.

E. 1. Any entity that claims one or more of the exclusions

from the definition of service warranty provided in paragraph 17 of

Section 141.2 of this title shall file audited financial statements

and other information as requested by the Commissioner to document

and verify that the contracts of the entity are not included within

the definition of service warranty. Financial statements are not

required to be filed by an entity claiming one of the exclusions set

forth in subparagraphs a and b of paragraph 17 of Section 141.2 of

this title.

2. Any entity that begins claiming an exclusion exemption as

provided by paragraph 17 of Section 141.2 of this title shall make

the filing required by subsection A of this section prior to

conducting or continuing business in this state.

3. Any entity approved for an exclusion exemption as provided

by paragraph 17 of Section 141.2 of this title may be required by

the Commissioner to provide subsequent information ascertained by

the Commissioner to be necessary to determine continued

qualification for an exclusion exemption as provided by paragraph 17

of Section 141.2 of this title. Financial statements shall not be

required to be filed by an entity claiming one of the exclusions set

forth in subparagraphs a and b of paragraph 17 of Section 141.2 of

this title.

4. Other information requested by the Commissioner may include,

but is not limited to, SEC filings, audited financial statements of

affiliates, and organizational data and organizational charts.

Financial statements shall not be required to be filed by an entity

claiming one of the exclusions set forth in subparagraphs a and b of

paragraph 17 of Section 141.2 of this title.