Okla. Stat. tit. 36, § 36-1112
This is the official text of Okla. Stat. tit. 36, § 36-1112, 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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Solvent insurer required - License revocation -
Official statutory text
Penalties.
A. A surplus lines licensee or broker shall not knowingly place
any such coverage with a nonadmitted insurer which is in an unsound
financial condition. To be considered financially sound, a surplus
lines insurer shall meet the requirements of Section 1106 of this
title.
B. For violation of this section, in addition to any other
penalty provided by law, the surplus lines broker's license shall be
revoked, and the broker shall not again be so licensed within a
period of two (2) years thereafter. In addition, any surplus lines
licensee and broker who violates this section shall be guilty of a
misdemeanor and upon conviction thereof shall be punished for each
offense, by a fine of not more than One Thousand Dollars ($1,000.00)
or by confinement in jail for not more than ninety (90) days, or by
both such fine and imprisonment.
A. A surplus lines licensee or broker shall not knowingly place
any such coverage with a nonadmitted insurer which is in an unsound
financial condition. To be considered financially sound, a surplus
lines insurer shall meet the requirements of Section 1106 of this
title.
B. For violation of this section, in addition to any other
penalty provided by law, the surplus lines broker's license shall be
revoked, and the broker shall not again be so licensed within a
period of two (2) years thereafter. In addition, any surplus lines
licensee and broker who violates this section shall be guilty of a
misdemeanor and upon conviction thereof shall be punished for each
offense, by a fine of not more than One Thousand Dollars ($1,000.00)
or by confinement in jail for not more than ninety (90) days, or by
both such fine and imprisonment.
Status: in_force · Read it on the official government site
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