Okla. Stat. tit. 36, § 36-1101.1
This is the official text of Okla. Stat. tit. 36, § 36-1101.1, 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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Domestic surplus line insurers
Official statutory text
A. An Oklahoma domestic insurer possessing policyholder surplus
of at least Fifteen Million Dollars ($15,000,000.00) may, pursuant
to a resolution by its board of directors, and with the written
approval of the Insurance Commissioner, be designated as a domestic
surplus line insurer. Such insurers may write surplus line
insurance in this state and in any other jurisdiction allowed under
the Nonadmitted and Reinsurance Reform Act of 2010.
B. The premiums of a domestic surplus line insurer shall be
subject to surplus line premium tax pursuant to Section 1115 of this
title. The surplus lines broker or licensee shall pay all premium
taxes to the Insurance Commissioner when Oklahoma is the home state
of the insured until and unless in the exercise of his or her sole
discretion and judgment, the Insurance Commissioner decides to join
the Nonadmitted Insurance Multi-State Agreement or any other
multistate agreement or compact with the same function and purpose.
C. A domestic surplus line insurer may not issue a policy
designed to satisfy the motor vehicle financial responsibility
requirement of this state, the Workers' Compensation Code, or any
Oklahoma Statutes - Title 36. Insurance Page 249
other law mandating insurance coverage by a licensed insurance
company.
D. A domestic surplus line insurer is not subject to the
provisions of the Oklahoma Property & Casualty Insurance Guaranty
Association Act nor the Oklahoma Life and Health Insurance Guaranty
Association Act.
of at least Fifteen Million Dollars ($15,000,000.00) may, pursuant
to a resolution by its board of directors, and with the written
approval of the Insurance Commissioner, be designated as a domestic
surplus line insurer. Such insurers may write surplus line
insurance in this state and in any other jurisdiction allowed under
the Nonadmitted and Reinsurance Reform Act of 2010.
B. The premiums of a domestic surplus line insurer shall be
subject to surplus line premium tax pursuant to Section 1115 of this
title. The surplus lines broker or licensee shall pay all premium
taxes to the Insurance Commissioner when Oklahoma is the home state
of the insured until and unless in the exercise of his or her sole
discretion and judgment, the Insurance Commissioner decides to join
the Nonadmitted Insurance Multi-State Agreement or any other
multistate agreement or compact with the same function and purpose.
C. A domestic surplus line insurer may not issue a policy
designed to satisfy the motor vehicle financial responsibility
requirement of this state, the Workers' Compensation Code, or any
Oklahoma Statutes - Title 36. Insurance Page 249
other law mandating insurance coverage by a licensed insurance
company.
D. A domestic surplus line insurer is not subject to the
provisions of the Oklahoma Property & Casualty Insurance Guaranty
Association Act nor the Oklahoma Life and Health Insurance Guaranty
Association Act.
Status: in_force · Read it on the official government site
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