Okla. Stat. tit. 36, § 36-1100.2
This is the official text of Okla. Stat. tit. 36, § 36-1100.2, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Authority to enter multistate agreements
Official statutory text
A. For the purposes of carrying out the Nonadmitted and
Reinsurance Reform Act of 2010, the Insurance Commissioner is
authorized in the Insurance Commissioner's sole discretion and
judgment to enter into the Nonadmitted Insurance Multi-State
Agreement or any other multistate agreement or compact with the same
function and purpose, in order to:
1. Facilitate the collection, allocation and disbursement of
premium taxes attributable to the placement of nonadmitted insurance
through a central clearinghouse;
2. Provide for uniform methods of allocation and reporting
among nonadmitted insurance risk classifications through a central
clearinghouse; and
3. Share information among states relating to nonadmitted
insurance premium taxes.
B. The Insurance Commissioner is not compelled now or in the
future to join the Nonadmitted Insurance Multi-State Agreement or
any other multistate agreement or compact with the same function and
purpose of distributing surplus line premium tax proceeds based on a
formula of multistate risk allocation, unless the Insurance
Commissioner, in his or her discretion, deems joining such a
multistate compact or agreement is in the best interest of the State
of Oklahoma and its citizens.
Reinsurance Reform Act of 2010, the Insurance Commissioner is
authorized in the Insurance Commissioner's sole discretion and
judgment to enter into the Nonadmitted Insurance Multi-State
Agreement or any other multistate agreement or compact with the same
function and purpose, in order to:
1. Facilitate the collection, allocation and disbursement of
premium taxes attributable to the placement of nonadmitted insurance
through a central clearinghouse;
2. Provide for uniform methods of allocation and reporting
among nonadmitted insurance risk classifications through a central
clearinghouse; and
3. Share information among states relating to nonadmitted
insurance premium taxes.
B. The Insurance Commissioner is not compelled now or in the
future to join the Nonadmitted Insurance Multi-State Agreement or
any other multistate agreement or compact with the same function and
purpose of distributing surplus line premium tax proceeds based on a
formula of multistate risk allocation, unless the Insurance
Commissioner, in his or her discretion, deems joining such a
multistate compact or agreement is in the best interest of the State
of Oklahoma and its citizens.
Status: in_force · Read it on the official government site
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